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Stock-Based Compensation Plans (Tables)
9 Months Ended
Sep. 30, 2012
Summary of Stock Options Issued Pursuant to Stock Incentive Plans

A summary of stock options issued pursuant to the Company’s stock incentive plans is as follows:

 

     Number of
Shares
    Weighted-
Average
Exercise
Price
     Weighted-
Average
Remaining
Contractual
Term (Years)
     Aggregate
Intrinsic Value of
In-the-Money
Options
 

Outstanding as of December 31, 2011

     3,490,056      $ 23.28         

Granted

     108,350        41.28         

Exercised

     (777,018     19.38         

Forfeited

     (94,230     21.60         

Expired

     (4,000     10.19         
  

 

 

   

 

 

       

Outstanding as of September 30, 2012

     2,723,158      $ 25.18         5.02       $ 46,605,039   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable as of September 30, 2012

     1,694,050      $ 24.37         4.36       $ 30,310,213   
  

 

 

   

 

 

    

 

 

    

 

 

 
Estimated Fair Value of Options Granted using Black-Scholes Option-Pricing Model with Weighted-Average Assumptions

The fair value of options granted during the three and nine months ended September 30, 2012 and the nine months ended September 30, 2011 was estimated on the date of grant using the Black-Scholes option-pricing model, a pricing model acceptable under U.S. GAAP, with the following weighted-average assumptions:

 

     Three Months Ended
September 30, 2012
    Nine Months Ended
September 30, 2012
    Nine Months Ended
September 30, 2011
 

Expected life (years)

     5.55        8.01        5.50   

Interest rate

     0.7     1.3     1.6

Volatility

     51.1     52.4     50.8

Dividend yield

     —          —          —     
Summary of Nonvested Long-Term Incentive Program Performance Share Awards Outstanding and Changes During Period

A summary of nonvested long-term incentive program performance share awards (“LTIP performance shares”) outstanding as of September 30, 2012 and changes during the period are as follows:

 

Nonvested LTIP Performance Shares

   Number of
Shares at
Expected
Attainment
    Weighted-
Average
Grant Date
Fair Value
 

Nonvested as of December 31, 2011

     931,571      $ 23.33   

Granted

     11,987        39.25   

Forfeited

     (76,196     23.50   
  

 

 

   

 

 

 

Nonvested as of September 30, 2012

     867,362      $ 23.53   
  

 

 

   

 

 

 
Summary of Nonvested Restricted Share Awards and Changes During Period

A summary of nonvested restricted share awards (“RSAs”) as of September 30, 2012 and changes during the period are as follows:

 

Nonvested Restricted Share Awards

   Number of
Restricted
Share Awards
    Weighted-Average Grant
Date Fair Value
 

Nonvested as of December 31, 2011

     100,023      $ 19.29   

Granted

     56,389        44.81   

Vested

     (74,482     18.15   

Forfeited

     (7,875     16.78   
  

 

 

   

 

 

 

Nonvested as of September 30, 2012

     74,055      $ 40.14   
  

 

 

   

 

 

 
S1 2003 Stock Incentive Plan
 
Summary of Nonvested Restricted Share Awards and Changes During Period

A summary of nonvested Transaction RSAs issued under the S1 2003 Stock Incentive Plan as of September 30, 2012 and changes during the period are as follows:

 

Nonvested Transaction Restricted Share Awards

   Number of
Restricted
Share Awards
    Weighted-Average Grant
Date Fair Value
 

Nonvested as of December 31, 2011

     —        $ —     

Transaction RSAs converted upon acquisition of S1

     170,205        35.41   

Vested

     (83,016     35.41   

Forfeited

     (18,529     35.41   
  

 

 

   

 

 

 

Nonvested as of September 30, 2012

     68,660      $ 35.41