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STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2012

The following table summarizes stock option activity for the nine months ended September 30, 2012, as adjusted to reflect the two-for-one forward stock split effected on September 21, 2012:


	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value ⁽¹⁾
Outstanding at December 31, 2011		8,603,616		$	9.17
Granted		1,044,736		$	37.41
Exercised		(2,630,328	)	$	6.89
Forfeited		(120,554	)	$	14.84

Outstanding at September 30, 2012		6,897,470		$	14.25		7.14	$	290.4

Vested and exercisable at September 30, 2012		3,942,153		$	9.99		5.98	$	182.8

(1)	The aggregate intrinsic value is calculated as the pre-tax difference between the exercise price of the underlying awards and the closing price per share of $56.35 of the Company’s common stock on September 28, 2012. The amount is presented in millions.

Schedule Of Black-Scholes Assumptions Used For Stock Options

The following presents the assumptions used to estimate the fair value of stock options granted and the weighted-average grant date fair value per share of options granted during the periods presented:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Risk-free interest rate		0.68	%		1.17-1.78	%		0.68-1.01	%		1.17-2.34	%
Estimated term (in years)		5.28			5.88			5.28-5.48			5.88-5.99
Estimated volatility		66	%		86	%		66-73	%		81-86	%
Estimated dividend yield		—			—			—			—
Weighted-average grant date fair value per share of options granted	$	26.73		$	7.00		$	22.37		$	13.54

Summary Of Restricted Stock Units

The following table summarizes restricted stock unit activity for the nine months ended September 30, 2012, as adjusted to reflect the two-for-one forward stock split effected on September 21, 2012:


	Number of Shares			Weighted- Average Grant-Date Fair Value
Unvested at December 31, 2011		203,234		$	7.17
Granted		65,806		$	23.20
Forfeited		(22,240	)	$	12.15

Unvested at September 30, 2012		246,800		$	11.00

Summary Of Stock Appreciation Rights Activity

The following table summarizes stock appreciation rights activity for the nine months ended September 30, 2012, as adjusted to reflect the two-for-one forward stock split effected on September 21, 2012:


	Number of Rights			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value ⁽¹⁾
Outstanding at December 31, 2011		525,600		$	24.40
Granted		387,400		$	23.20
Forfeited		(29,400	)	$	23.20

Outstanding at September 30, 2012		883,600		$	23.91		9.23	$	28.7

(1)	The aggregate intrinsic value is calculated as the pre-tax difference between the exercise price of the underlying awards and the closing price per share of $56.35 of the Company’s common stock on September 28, 2012. The amount is presented in millions.

Schedule Of Black-Scholes Assumptions Used For Stock Appreciation Rights Awards

The fair value of each cash-settled stock appreciation right was estimated on the date of the grant and was remeasured at the conversion date of July 13, 2012 using the Black-Scholes valuation model with the following assumptions:


	Stock Appreciation Rights Granted During the Nine Months Ended September 30, 2012			Remeasurement as of July 13, 2012
Risk-free interest rate		1.01	%		0.83	%
Estimated term (in years)		5.48			5.42
Estimated volatility		73	%		71	%
Estimated dividend yield		—			—

Schedule Of Stock-Based Compensation Expense

Stock-based compensation expense was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Stock-based compensation expense recognized as:
R&D	$	3,512	$	1,926	$	8,997	$	6,104
SG&A		4,091		1,301		8,523		4,412

Total	$	7,603	$	3,227	$	17,520	$	10,516

Summary Of Stock Based Compensation Expense By Equity Award Type

A summary of stock based compensation expense by equity award type was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Stock options	$	3,575	$	3,088	$	9,523	$	10,008
Restricted stock units		267		139		788		508
Stock appreciation rights		1,728		—		5,176		—
Performance share awards		2,033		—		2,033		—

Total	$	7,603	$	3,227	$	17,520	$	10,516