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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Components of Share-Based Compensation Expense

The components of share-based compensation expense related to the awards to Company employees and directors who are not employees of the Company of restricted stock units and restricted stock awards (representing shares of common stock) and options to purchase shares of common stock, as applicable, are presented below:

 

     For the Years Ended  
(in thousands)    December 31,
2013
     December 31,
2012
     December 31,
2011
 

Deferred stock

   $ 23,910       $ 23,198       $ 27,067   

Stock options

     1,643         2,398         4,682   
  

 

 

    

 

 

    

 

 

 

Total

   $ 25,553       $ 25,596       $ 31,749   
  

 

 

    

 

 

    

 

 

 
Summary of Vested and Unvested Deferred Stock Awards Activity

The following table sets forth activity concerning the Company’s vested and unvested deferred stock awards applicable to its employees:

 

For the Year Ended December 31, 2013

   Number of
Shares
(in thousands)
    Weighted
Average

Grant
Date  Fair
Value
 

Vested and unvested deferred stock awards at December 31, 2012

     1,440      $ 32.47   

Granted

     797      $ 34.06   

Conversion to common stock

     (847   $ 32.30   

Canceled

     (153   $ 30.65   
  

 

 

   

Vested and unvested deferred stock awards at December 31, 2013 (1)

     1,237      $ 33.84   
  

 

 

   

 

(1) 

As of December 31, 2013, 1,212 restricted stock units and restricted stock awards, with a weighted average price of $33.84, were vested or expected to vest.

Summary of Unvested Deferred Stock Awards Activity

The following table sets forth activity concerning the Company’s unvested deferred stock awards related to its employees:

 

For the Year Ended December 31, 2013

   Number of
Shares
(in thousands)
    Weighted
Average
Grant
Date Fair
Value
 

Unvested deferred stock awards at December 31, 2012(1)

     1,136      $ 32.16   

Granted

     599      $ 34.01   

Vested

     (688   $ 31.91   

Canceled

     (153   $ 30.65   
  

 

 

   

Unvested deferred stock awards at December 31, 2013

     894      $ 33.85   
  

 

 

   

Unvested deferred stock awards expected to vest

     868      $ 33.85   
  

 

 

   

 

(1) 

Unvested deferred stock awards represent awards where recipients have yet to satisfy either the explicit vesting terms or retirement-eligibility requirements.

Weighted Average Fair Value of Stock Options Assumed

The weighted average fair value of MSCI stock options issued by the Company in the year ended December 31, 2013 was $19.18, utilizing the following assumptions:

 

     Assumptions  

Risk free interest rate

     1.87

Expected option life in years

     6.50   

Expected stock price volatility

     46.07

Expected dividend yield

     —     
Summary of Stock Options Activity

The following table sets forth activity concerning MSCI stock options granted to the Company’s employees for the year ended December 31, 2013:

 

For the Year Ended December 31, 2013

   Number of
Options

(in  thousands)
    Weighted
Average
Exercise
Price
     Weighted
Average
Remaining
Life
(Years)
     Aggregated
Intrinsic
Value
(in thousands)
 

Options outstanding at December 31, 2012

     2,607      $ 19.62         5.82         N/A   

Granted or assumed

     104      $ 40.23         N/A         N/A   

Forfeited

     (20   $ 18.99         N/A         N/A   

Conversion to common stock

     (705   $ 16.43         N/A         N/A   
  

 

 

         

Options outstanding at December 31, 2013

     1,986      $ 21.85         4.55       $ 43,445   
  

 

 

         

Options exercisable at December 31, 2013

     1,729      $ 19.42         4.02       $ 42,005   
  

 

 

         

Options vested or expected to vest

     1,986      $ 21.85         4.55       $ 43,445   
  

 

 

         
Summary of Stock Options Outstanding by Exercise Price Range

The following table presents information relating to the Company’s outstanding stock options as of December 31, 2013:

 

At December 31, 2013

   Options Outstanding  
Range of Exercise Prices    Number
Outstanding
(in thousands)
     Weighted
Average
Exercise
Price
     Average
Remaining
Life (Years)
     Aggregate
Intrinsic
Value
(in thousands)
 

$2.76 to $16.48

     204       $ 11.95         3.20       $ 6,481   

$18.00

     961       $ 18.00         3.86       $ 24,706   

$20.45 to $25.64

     509       $ 23.23         4.32       $ 10,433   

$36.70 to $40.23

     312       $ 37.88         7.88       $ 1,825   
  

 

 

          

 

 

 

Total

     1,986             $ 43,445   
  

 

 

          

 

 

 
Summary of Stock Options Exercisable by Exercise Price Range

The following table presents information relating to the Company’s exercisable stock options as of December 31, 2013:

 

At December 31, 2013

   Options Exercisable  
Range of Exercise Prices    Number
Outstanding
(in thousands)
     Weighted
Average
Exercise
Price
     Average
Remaining
Life (Years)
     Aggregate
Intrinsic
Value
(in thousands)
 

$2.76 to $16.48

     204       $ 11.95         3.20       $ 6,481   

$18.00

     961       $ 18.00         3.86       $ 24,706   

$20.45 to $25.64

     509       $ 23.23         4.32       $ 10,433   

$36.70 to $40.23

     55       $ 36.70         6.95       $ 385   
  

 

 

          

 

 

 

Total

     1,729             $ 42,005