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STOCKHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Summary of Stock Option Activity

A summary of the Company’s stock option and SARs activities and related information for the year ended December 31, 2013, is as follows:

 

     Number of
options and
SAR units		     Weighted
average
exercise
price		      Weighted
average
remaining
contractual
term		      Aggregate
intrinsic-
value		  

Outstanding at the beginning of the year

      2,546,117      $ 15.88         

Granted (1)

      825,750        16.67         

Options/SAR units exercised

      (151,867 )      8.10         

Options/SAR units forfeited or expired

      (104,028 )      20.94         
  

 

 

    

 

 

        

Outstanding at the end of the year (2)

      3,115,972      $ 16.30         4.8       $ 5,785,501   
  

 

 

    

 

 

     

 

 

     

 

 

  

Vested or expected to vest as of December 31

      3,008,858      $ 16.25         4.7       $ 5,778,854   
  

 

 

    

 

 

     

 

 

     

 

 

  

Exercisable as of December 31 (3)

      1,595,611      $ 14.79         3.2       $ 5,675,797   
  

 

 

    

 

 

     

 

 

     

 

 

  

 

(1) Includes 693,750 SAR units which are convertible for a maximum number of shares of the Company’s common stock equal to 75% of the SAR units subject to the grant.
(2) Due to the ceiling imposed on the SAR grants, the outstanding amount equals a maximum of 2,816,691 shares of the Company’s common stock issuable upon exercise.
(3) Due to the ceiling imposed on the SAR grants, the exercisable amount equals a maximum of 1,549,633 shares of the Company’s common stock issuable upon exercise.
Schedule of Options Granted, Classified into Range of Exercise Price

The options and SARs granted to employees of the Company and its subsidiaries and the options granted to non-employee directors of the Company and its subsidiaries which were outstanding as of December 31, 2013 have been classified into a range of exercise prices as follows:

 

     Outstanding      Exercisable  

Exercise price (range)

   
Number of
options		      Weighted
average
remaining
contractual
life (years)		      Weighted
average
exercise
price		     
Number of
options		      Weighted
average
remaining
contractual
life (years)		      Weighted
average
exercise
price		  

5.76-9.80

      776,274         1.6       $ 8.36         776,274         1.6       $ 8.36   

11.17-15.54

      696,544         5.1       $ 14.80         305,053         4.7       $ 14.27   

16.08-17.61

      814,062         6.7       $ 16.44         49,580         7.5       $ 17.21   

18.23-32.34

      829,092         5.5       $ 24.87         464,704         4.6       $ 25.61   
  

 

 

           

 

 

        
     3,115,972         4.8       $ 16.30         1,595,611         3.2       $ 14.79