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Share Based Compensation (Tables)
9 Months Ended
Sep. 30, 2012
Summary Of Expense Related To Share-Based Payments

The table below summarizes the expense recognized related to share-based payments recognized for the three and nine month periods ended September 30 (in thousands):

 

     Three Months  Ended
September 30,
     Nine Months  Ended
September 30,
 
     2012      2011      2012      2011  

Stock options

   $ 2,836       $ 2,032       $ 7,462       $ 7,086   

Restricted stock

     3,658         1,607         6,825         8,536   
  

 

 

    

 

 

    

 

 

    

 

 

 

Stock-based compensation

   $ 6,494       $ 3,639       $ 14,287       $ 15,622   
  

 

 

    

 

 

    

 

 

    

 

 

 
Summary Of Total Unrecognized Compensation Cost Related To Stock-Based Compensation

The following table summarizes the Company’s total unrecognized compensation cost related to stock-based compensation as of September 30, 2012 (in thousands):

 

     Unrecognized
Compensation
Cost
     Weighted Average
Period  of Expense
Recognition
(in Years)
 

Stock options

   $ 30,449         2.34   

Restricted stock

     7,684         1.21   
  

 

 

    

Total

   $ 38,133      
  

 

 

    
Summary Of Changes In Number Of Shares Of Common Stock Under Option

The following summarizes the changes in the number of shares of common stock under option for the nine month period ended September 30, 2012 (shares and aggregate intrinsic value in thousands):

 

     Shares     Weighted
Average
Exercise
Price
     Options
Exercisable
at End of
Period
     Weighted
Average
Exercise
Price of
Exercisable
Options
     Weighted
Average  Fair
Value of
Options
Granted During
the Period
     Aggregate
Intrinsic
Value
 

Outstanding at December 31, 2011

     8,341      $ 15.51         4,394       $ 10.13          $ 119,802   

Granted

     1,158        36.34             $ 10.65      

Exercised

     (2,425     8.71                  87,521   

Forfeited

     (44     15.54               
  

 

 

   

 

 

    

 

 

    

 

 

       

 

 

 

Outstanding at September 30, 2012

     7,031      $ 21.22         3,052       $ 13.72          $ 165,792   
  

 

 

   

 

 

             

Expected to vest as of September 30, 2012

     7,031      $ 21.22               
  

 

 

   

 

 

             
Schedule Of Weighted-Average Assumptions

The fair value of stock option awards granted was estimated using the Black-Scholes option pricing model during the nine months ended September 30, 2012 and 2011, with the following weighted-average assumptions for grants during the period.

 

     Nine Months Ended September 30,  
     2012     2011  

Risk-free interest rate

     0.59     1.74

Dividend yield

     —          —     

Expected volatility

     36.53     39.06

Expected life (in years)

     4.0        4.0   
Schedule Of Weighted-Average Assumptions

The fair value of restricted stock awards granted which included market conditions during the nine months ended September 30, 2011 was estimated using the Monte Carlo option pricing model at the grant date, with the following assumptions.

 

     Nine Months Ended
September 30, 2011
 

Risk-free interest rate

     1.25

Dividend yield

     —     

Expected volatility

     37.00

Expected life (in years)

     0.63   
Summary Of Changes In Number Of Shares Of Restricted Stock And Restricted Stock Units

The following table summarizes the changes in the number of shares of restricted stock and restricted stock units for the nine months ended September 30, 2012 (shares in thousands):

 

     Shares     Weighted
Average
Grant Date
Fair Value
 

Unvested at December 31, 2011

     840      $ 23.15   

Granted

     131        36.27   

Vested

     (224     23.31   

Cancelled

     (25     33.49   
  

 

 

   

 

 

 

Unvested at September 30, 2012

     722      $ 25.21