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STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2012
STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION  
Schedule of the weighted average assumptions used to determine the fair value of options as of the grant date

 

 

 

 

2012

 

2011

 

2010

 

 

 

Black-Scholes

 

Binomial

 

Black-
Scholes

 

Binomial

 

Black-Scholes

 

Binomial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate (%)

 

0.87 – 1.17

 

0.08 – 2.04

 

1.69 – 1.93

 

0.04 – 3.03

 

1.50 – 3.20

 

0.02 – 3.66

 

Expected stock price volatility (%)

 

34.22 – 34.65

 

34.20 – 34.60

 

48.00

 

55.70 – 55.80

 

47.00 – 50.00

 

51.00 – 52.00

 

Expected dividend yield

 

 

 

 

 

 

 

Expected option life (in years)

 

6.25

 

 

6.25

 

 

6.25 – 7.00

 

 

Contractual life (in years)

 

 

14

 

 

14

 

 

13

 

Fair value

 

$19.25 – $29.80

 

$9.98 - $22.76

 

$16.33 – $17.85

 

$16.91 - $20.39

 

$11.95 – $13.24

 

$10.05 - $12.42

Summary of the weighted-average fair value of stock options granted, and the total intrinsic value of stock options exercised

 

 

 

 

 

 

2012

 

2011

 

2010

 

 

 

 

 

 

 

 

 

 

 

Weighted-average fair value at date of grant

 

 

 

$

20.77

 

$

17.66

 

$

18.18

 

Intrinsic value of options exercised

 

(in thousands)

 

17,598

 

4,966

 

7,530

 

Fair value of options vested

 

(in thousands)

 

2,790

 

3,536

 

926

Summary of the activity of the entity's stock options

 

 

 

 

Number of
options

 

Weighted
average
exercise
price

 

Weighted
average
contractual
term
(in years)

 

Aggregate
intrinsic
value
(in
thousands)

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2011

 

3,243,958

 

$

14.19

 

6.7

 

$

116,755

 

Granted

 

278,500

 

69.48

 

 

 

 

 

Exercised

 

(285,054

)

12.19

 

 

 

 

 

Forfeited

 

(179,095

)

28.35

 

 

 

 

 

Outstanding at December 31, 2012

 

3,058,309

 

17.69

 

6.11

 

$

211,072

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31, 2012

 

2,235,923

 

$

11.59

 

5.52

 

$

167,885

Summary of information about stock options outstanding and exercisable

 

 

 

 

Options outstanding

 

Options exercisable

 

Exercise price
range

 

Number

 

Weighted
average
remaining
contractual
life

 

Weighted
average
exercise
price

 

Number

 

Weighted
average
remaining
contractual
life

 

Weighted
average
exercise
price

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$0.00 – $10.00(a)

 

1,901,386

 

5.43

 

$

9.13

 

1,771,805

 

5.42

 

$

9.13

 

$10.01 – $20.00(a)

 

187,912

 

3.55

 

12.50

 

177,912

 

3.37

 

12.44

 

$20.01 – $30.00(a)

 

611,561

 

7.29

 

22.94

 

247,814

 

7.28

 

22.87

 

$30.01 – $40.00(a)

 

108,950

 

8.54

 

34.16

 

17,329

 

8.53

 

33.48

 

$50.01 – $60.00(a)

 

10,000

 

9.37

 

53.15

 

1,250

 

9.37

 

53.00

 

$60.01 – $70.00(a)

 

158,500

 

9.19

 

60.66

 

19,813

 

9.19

 

60.66

 

$80.01 – $90.00(a)

 

80,000

 

9.62

 

80.89

 

 

 

 

 

 

3,058,309

 

 

 

 

 

2,235,923

 

 

 

 

 

 

(a)             These options contain market-based components as described above.  All other options are time-based awards.

Summary of the market prices for options to begin to vest

 

 

 

 

Market Based Options

 

(in thousands, except share prices)
Vesting price

 

Ordinary
performance

 

Extraordinary
performance

 

 

 

 

 

 

 

$150.00 – $160.00

 

 

3

 

$160.01 – $170.00

 

3

 

 

$180.01 – $190.00

 

 

45

 

Over $190.01

 

 

1

 

 

 

3

 

49

 

 

 

 

 

 

 

Weighted average share price

 

$

80.89

 

$

61.00