XML 134 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stockholders' Equity
6 Months Ended
Jun. 30, 2013
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders’ Equity

Stock Repurchase Program

In April 2012, the Company's Board of Directors authorized a $150.0 million stock repurchase program covering a twelve-month period commencing on May 1, 2012. In January 2013, the Board of Directors authorized a $150.0 million extension of its share repurchase program, effective for a twelve-month period beginning February 1, 2013. The timing and amount of any future share repurchases will be determined by the Company’s management based on its evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan, which would permit the Company to repurchase shares when the Company might otherwise be precluded from doing so under insider trading laws. The Company may choose to suspend or discontinue the repurchase program at any time. Any purchases made under the program will be reflected as an increase in cash used for financing activities. Unused amounts from the May 2012 program were not carried over to the program approved in January 2013.

During the three and six months ended June 30, 2013, the Company repurchased 1.1 million and 2.2 million shares, respectively, of its common stock for $42.5 million and $82.8 million, respectively. During the three and six months ended June 30, 2012, the Company repurchased 2.2 million and 2.4 million shares, respectively, of its common stock for $67.2 million and $75.1 million, respectively. As of June 30, 2013, the Company had $76.8 million remaining available for future purchases of shares under the current repurchase program.

Stock-Based Compensation Expense

The following table summarizes the components of total stock-based compensation expense included in the Company’s consolidated statements of operations for the three and six months ended June 30, 2013 and 2012 (in thousands):
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Stock-based compensation by type of award:
 
 
 
 
 
 
 
Stock options
$
3,104

 
$
4,366

 
$
6,293

 
$
7,466

Deferred stock units
1,705

 
1,885

 
1,705

 
1,885

RSUs
21,608

 
19,734

 
42,526

 
38,462

Shares issued under the Employee Stock Purchase Plan
1,629

 
1,471

 
3,391

 
2,865

Amounts capitalized as internal-use software
(3,245
)
 
(1,835
)
 
(6,183
)
 
(4,133
)
Total stock-based compensation before income taxes
24,801

 
25,621

 
47,732

 
46,545

Less: Income tax benefit
(9,345
)
 
(9,375
)
 
(16,309
)
 
(17,872
)
Total stock-based compensation, net of taxes
$
15,456

 
$
16,246

 
$
31,423

 
$
28,673

Effect of stock-based compensation on income by line item:

 
 
 
 
 
 
Cost of revenues
$
2,718

 
$
3,063

 
$
5,345

 
$
5,769

Research and development expense
3,867

 
4,901

 
8,236

 
8,831

Sales and marketing expense
9,799

 
8,814

 
19,230

 
16,925

General and administrative expense
8,417

 
8,843

 
14,921

 
15,020

Provision for income taxes
(9,345
)
 
(9,375
)
 
(16,309
)
 
(17,872
)
Total cost related to stock-based compensation, net of taxes
$
15,456

 
$
16,246

 
$
31,423

 
$
28,673


In addition to the amounts of stock-based compensation reported in the table above, the Company’s consolidated statements of operations for the three and six months ended June 30, 2013 include stock-based compensation reflected as a component of amortization of capitalized internal-use software of $2.0 million and $3.9 million, respectively, before taxes. The Company’s consolidated statements of operations for the three and six months ended June 30, 2012 include stock-based compensation reflected as a component of amortization of capitalized internal-use software of $1.9 million and $3.7 million, respectively, before taxes.