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STOCKHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2014
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, 2014, 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

      3,115,972       $ 16.30         

Granted (1)

      457,500         14.94         

Options/SAR units exercised

      (190,871 )       8.85         

Options/SAR units forfeited or expired

      (66,221 )       18.48         
  

 

 

     

 

 

        

Outstanding at the end of the year (2)

   3,316,380    $ 16.50      4.5    $ 10,881,253   
  

 

 

     

 

 

     

 

 

     

 

 

  

Vested or expected to vest as of December 31

   3,218,030    $ 16.51      4.4    $ 10,656,933   
  

 

 

     

 

 

     

 

 

     

 

 

  

Exercisable as of December 31 (3)

   2,031,630    $ 16.51      3.3    $ 8,047,463   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

  (1) Includes 325,500 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 2,946,669 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 1,894,343 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, 2014 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

      599,076         0.9       $ 8.37         599,076         0.9       $ 8.37   

11.58-15.54

      1,074,858         5.4       $ 14.76         461,119         3.9       $ 14.51   

16.08-17.61

      837,156         5.8       $ 16.48         318,821         5.8       $ 16.50   

18.23-32.34

      805,290         4.5       $ 24.89         652,614         3.9       $ 25.39   
  

 

 

           

 

 

        
  3,316,380      4.5    $ 16.50      2,031,630      3.3    $ 16.51