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Equity-based Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2011
Equity-based Incentive Plans  
Schedule of valuation assumptions used in determining the fair value of stock options

 

 

 
  2011   2010   2009  

Volatility(1)

    65.1 - 66.3 %   66.4 - 67.0 %   67.2 - 67.4 %

Risk-free interest rate(2)

    0.4 - 1.4 %   0.8 - 2.0 %   2.1 - 2.2 %

Dividend yield(3)

    2.3 - 2.5 %   2.0 - 2.2 %   1.7 - 2.0 %

Expected life (years)(4)

    2.8 - 4.1     2.8 - 4.1     2.2 - 3.9  

(1)
The volatility is based on the historical volatility of the company's stock.

(2)
The risk-free interest rate is based on the U.S. Treasury strip rate for the expected life of the option.

(3)
The expected dividend yield is based on the company's latest annualized dividend rate and recent historical market prices of the underlying common stock at the date of grant.

(4)
The expected life in years is determined primarily from historical stock option exercise data.
Schedule of stock option activity for all plans

 

 

 
  Options   Weighted Average
Exercise Price
  Weighted Average
Fair Value
 

Outstanding options as of January 1, 2009

    7,986,681   $ 10.86   $ 3.40  

Granted

    1,637,107     15.04     5.14  

Exercised

    (2,807,898 )   5.81     2.57  

Forfeited

    (326,519 )   15.83     5.92  
                   

As of December 31, 2009

    6,489,371     13.69     5.09  

Granted

    2,545,932     14.73     5.81  

Exercised

    (1,414,153 )   8.11     2.89  

Forfeited

    (214,757 )   20.35     6.33  
                   

As of December 31, 2010

    7,406,393     14.91     5.14  

Granted

    2,742,904     14.34     5.36  

Exercised

    (1,047,297 )   11.37     4.28  

Forfeited

    (499,718 )   16.61     6.15  
                   

As of December 31, 2011

    8,602,282     15.06     5.25  
                   
Schedule of information concerning outstanding options, by range of exercise price

 

 

Range of Exercise Price
  Outstanding
Options
  Weighted Average
Remaining
Contractual Life
(Years)
  Weighted Average
Exercise Price
Outstanding
Options
  Exercisable
Options
  Weighted Average
Exercise Price
Exercisable
Options
 

$0 to $10

    1,530,294     1.9   $ 5.23     1,530,294   $ 5.23  

$10 to $15

    3,094,843     4.0     13.13     1,498,555     13.76  

$15 to $20

    2,781,396     3.9     16.39     2,781,396     16.39  

$20 to $30

    741,037     0.7     24.50     741,037     24.50  

$30 to $40

    454,712     1.4     37.84     454,712     37.84