Stock-Based Compensation

3 Months Ended

Mar. 31, 2012

Share-based Compensation [Abstract]

Stock-Based Compensation

Stock-Based Compensation

Restricted Stock Awards

	Number of Shares
	(In thousands of shares)
Shares outstanding at January 1, 2012	3,403
Shares granted(a)	836
Shares vested(b)	(1,942	)
Shares forfeited	(8	)
Shares outstanding at March 31, 2012	2,289

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(a) Weighted-average grant-date fair value of $38.28 per share and a weighted-average requisite service period of 2.5 years. The awards with market conditions included an expected volatility of 31% in the Monte Carlo simulation used to measure grant-date fair value.

(b) Fair value on vesting date of $99.7 million.

During the three months ended March 31, 2012, the Company granted 0.4 million shares of restricted stock awards that time vest over a three-year period. During the three months ended March 31, 2012, the Company granted 0.4 million shares of restricted stock awards ("2012 Performance Awards") which may vest on the third anniversary of the grant date subject to a market condition based upon the Company's common stock price.

The Company recognized stock-based compensation expense related to restricted stock awards of $7.8 million and $8.2 million for the three months ended March 31, 2012 and 2011, respectively. The unrecognized compensation expense (net of estimated forfeitures) related to restricted stock awards as of March 31, 2012 is $48.7 million.