Accounting for Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2011

Accounting for Stock-Based Compensation [Abstract]

Impact of Total Compensation Expense

The following table reflects the impact of total compensation expense related to stock-based equity plans on the reported operating results for the respective periods (in thousands):

	Year Ended December 31,
	2011			2010			2009
Effect on income from continuing operations before income taxes	$	(42,542	)	$	(38,779	)	$	(44,501	)
Effect on net income	$	(27,014	)	$	(24,625	)	$	(26,986	)

Fair value of stock options

The fair value of stock options was estimated using the Black-Scholes option pricing model with the following assumptions during the years ended December 31, 2011, 2010 and 2009:

	Year Ended December 31,
	2011			2010			2009
Expected volatility		33.8	%		33.7	%		40.7	%
Expected dividends		0			0			0
Expected term		4 years			3.1 years			4 years
Risk-free interest rate		1.63	%		1.41	%		1.64	%

Options outstanding and exercisable

	Shares			Weighted - Average Exercise Price		Weighted - Average Remaining Contractual Term		Aggregate Intrinsic Value as of December 31, 2011
Outstanding at December 31, 2008		8,764,084		$	30.97
Granted		1,313,000			19.43
Exercised		(680,898	)		18.74
Forfeited and cancelled		(442,105	)		31.27
Outstanding at December 31, 2009		8,954,081			30.19
Granted		1,447,500			33.89
Exercised		(2,194,862	)		25.88
Forfeited and cancelled		(372,387	)		29.80
Outstanding at December 31, 2010		7,834,332			32.08
Granted		1,505,000			35.87
Exercised		(623,341	)		30.34
Forfeited and cancelled		(326,849	)		33.69
Outstanding at December 31, 2011		8,389,142		$	32.83		5.3 years	$	120
Exercisable at December 31, 2011		5,884,262		$	32.74		3.9 years	$	74

Restricted stock outstanding

Restricted stock outstanding under the 2000 Plan and the 2009 Plan as of December 31, 2011, and changes during each of the years in the three-year period ended December 31, 2011 was as follows:

	Shares			Weighted - Average Grant Date Fair Value
Unvested at December 31, 2008		1,684,207		$	35.57
Granted		1,188,814			18.45
Vested		(965,478	)		37.08
Forfeited		(10,002	)		32.52
Unvested at December 31, 2009		1,897,541			24.09
Granted		1,099,000			33.83
Vested		(860,749	)		27.04
Forfeited		(10,501	)		27.84
Unvested at December 31, 2010		2,125,291			27.92
Granted		1,109,949			37.57
Vested		(1,009,959	)		27.40
Forfeited		(17,669	)		35.68
Unvested at December 31, 2011		2,207,612			32.95

Phantom stock and restricted stock

Phantom stock and RSUs outstanding as of December 31, 2011, and changes during each of the years in the three-year period ended December 31, 2011 were as follows:

	Shares			Weighted - Average Grant Date Fair Value
Unvested at December 31, 2008		—		$	—
Phantom Stock Granted February 25, 2009		42,906			18.18
RSUs Granted May 19, 2009		7,151			25.27
Vested		—			—
Forfeited		—			—
Unvested at December 31, 2009		50,057			19.19
RSUs Granted February 24, 2010		24,780			33.90
Vested		(21,449	)		18.97
Forfeited		—			—
Unvested at December 31, 2010		53,388			26.11
RSUs Granted February 23, 2011		22,128			37.96
Vested		(22,560	)		24.68
Forfeited		—			—
Unvested at December 31, 2011		52,956			31.67

Deferred Director's Fee

	Year Ended December 31,
	2011		2010		2009
Directors’ fees earned and deferred into plan	$	220	$	180	$	80
Share equivalent units		9,974		5,207		3,284