EQUITY AND SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of assumptions used to determine the fair value of options as of the grant date

The fair value of the service-based options was determined using the Black-Scholes option pricing model and the fair value of the market-based options was determined using a lattice (binomial) model. The following assumptions were used to determine the fair value as of the grant date:

	Three months ended   March 31, 2015
	Black-Scholes		Binomial
Risk-free interest rate (%)	1.67	%	0.02% - 2.01%
Expected stock price volatility (%)	55.06	%	55.06	%
Expected dividend yield	—		—
Expected option life (in years)	6.25		—
Contractual life (in years)	—		14
Fair value	$11.69		$10.68 - $11.93

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

The following table summarizes the weighted average fair value of stock options granted, the total intrinsic value of stock options exercised and the grant date fair value of stock options vested during the period presented:

	Three months ended March 31,
(in thousands, except per share amounts)	2015		2014
Weighted average fair value at grant date per share	$	11.56	N/A
Intrinsic value of options exercised	176		2,690
Grant date fair value of options vested during the period	264		391

Summary of the activity of the entity's stock options

The following table summarizes the activity related to our stock options:

	Number of options		Weighted average exercise price		Weighted average contractual term (in years)	Aggregate intrinsic value (in thousands)
Outstanding at December 31, 2014	2,601,892		$	21.21	4.44	$	47,805
Granted	30,000		26.42
Exercised	(21,984	)	9.19
Forfeited	(23,000	)	51.92
Outstanding at March 31, 2015	2,586,908		21.10		4.27	6,143
Exercisable at March 31, 2015	2,264,976		13.73		3.72	6,143