STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2014

Tax Characterization of Dividends per Share on Common Shares

Dividends on Common Stock

The tax characterization of dividends per share on common shares as reported to shareholders was as follows for the years ended December 31, 2014, 2013, and 2012:


Declaration Date	Record Date	Payable Date	Ordinary Income			Return of Capital			Total Per Share
May 11, 2012	June 8, 2012	June 22, 2012		0.20	⁽¹⁾		—		$0.20
August 20, 2012	September 14, 2012	September 28, 2012		0.20	⁽¹⁾		—		$0.20
November 6, 2012	November 30, 2012	December 14, 2012		0.20	⁽¹⁾		—		$0.20
February 22, 2013	April 3, 2013	April 15, 2013		0.346119			0.183881		$0.53
May 16, 2013	July 3, 2013	July 15, 2013		0.313466			0.166534		$0.48
August 16, 2013	October 2, 2013	October 15, 2013		0.313466			0.166534		$0.48
December 12, 2013	January 2, 2014	January 15, 2014		0.48	⁽²⁾		—		$0.48
February 20, 2014	April 2, 2014	April 15, 2014		0.51	⁽³⁾		—		$0.51
May 15, 2014	July 2, 2014	July 15, 2014		0.51	⁽³⁾		—		$0.51
August 14, 2014	October 2, 2014	October 15, 2014		0.51	⁽³⁾		—		$0.51
December 11, 2014	January 2, 2015	January 15, 2015		—	⁽⁴⁾		—	⁽⁴⁾	$0.51

⁽¹⁾

The amount constitutes a “Qualified Dividend”, as defined by the IRS.

⁽²⁾

$0.072069 of this amount constitutes a “Qualified Dividend”, as defined by the IRS.

⁽³⁾

$0.076573 of this amount constitutes a “Qualified Dividend”, as defined by the IRS.

⁽⁴⁾

Taxable in 2015.

Summary of Nonvested Restricted Common Stock Transactions

Nonvested restricted common stock transactions as of December 31, 2014 and for the year then ended are summarized below (in thousands, except per share amounts).


	Shares of restricted common stock and RSUs			Weighted average grant date fair value
Nonvested at December 31, 2013		812		$	32.81
Granted		548		$	32.40
Cancelled		(31	)	$	32.31
Vested		(309	)	$	31.73

Nonvested at December 31, 2014		1,020		$	32.93

Summary of Stock Option Transactions Relating to Non-Qualified Stock Option Plans

Stock option transactions relating to CCA’s non-qualified stock option plans are summarized below (in thousands, except exercise prices):

No. of
options

Weighted-
Average
Exercise Price
of options

Weighted-
Average
Remaining
Contractual
Term

Aggregate
Intrinsic
Value

Outstanding at December 31, 2013

2,602

19.31

Granted

—

Exercised

(712

)

17.47

Cancelled

)

22.34

Outstanding at December 31, 2014

1,884

20.00

5.0

30,792

Exercisable at December 31, 2014

1,602

19.58

4.6

26,841

Schedule of Estimated Fair Value of Option Grant Using Black-Scholes Option Pricing Model

The fair value of the 2012 option grant was estimated on the date of the grant using the Black-Scholes option-pricing model with the following weighted average assumptions:


	2012
Expected dividend yield		3.0	%
Expected stock price volatility		42.2	%
Risk-free interest rate		1.0	%
Expected life of options		5 years

Summary of Nonvested Stock Option Transactions Relating to Non-Qualified Stock Option Plans

Nonvested stock option transactions relating to CCA’s non-qualified stock option plans as of December 31, 2014 and changes during the year ended December 31, 2014 are summarized below (in thousands, except grant date fair values):


	Number of options			Weighted average grant date fair value
Nonvested at December 31, 2013		679		$	6.88
Granted		—		$	—
Cancelled		—		$	—
Vested		(397	)	$	7.04

Nonvested at December 31, 2014		282		$	6.66