Stock-Based Compensation

3 Months Ended

Mar. 31, 2012

Stock-Based Compensation [Abstract]

Stock-Based Compensation

11.     STOCK-BASED COMPENSATION

For the first quarter of 2012 and 2011, stock-based compensation expense was reflected in the Company's unaudited condensed consolidated statements of income as follows:

	Three Months Ended March 31,
(in thousands)	2012			2011
Cost of revenue	$	977		$	797
Operating expenses		1,875			1,738
Total stock-based compensation before tax		2,852			2,535
Income tax benefit		(876	)		(886	)

During the first quarter of 2012, the Company issued approximately 170,000 shares to its employees under the Company's share-based compensation plans.

During the first quarter of 2012, the Company granted approximately 102,000 restricted stock units ("RSUs") with a total fair value of $2.9 million. Approximately 52,000 RSUs were issued in connection with the election by employees to receive 50% of their 2012 target incentive compensation under the Company's Corporate Incentive Compensation Plan (the "CICP") in the form of RSUs instead of cash. The total stock-based compensation of approximately $1.9 million associated with this RSU grant will be recognized over one year.

As of March 31, 2012, the Company had approximately $13.9 million of unrecognized stock-based compensation expense, net of estimated forfeitures, related to all unvested RSUs and unvested stock options that is expected to be recognized over a weighted-average period of 2.2 years.