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STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock-based compensation recorded, remaining unamortized amounts and weighted average amortization period
The table below sets forth stock-based compensation of continuing operations for the three and six months ended June 30, 2012 and 2011, and the remaining unamortized amounts and weighted average amortization period as of June 30, 2012.
 
 
Stock
Options
 
Restricted
Stock
 
Performance
Units
 
Phantom
Stock Units
 
 
Total(1)(2)
 
(In Thousands)
Three months ended June 30, 2012:
 

 
 

 
 

 
 

 
 
 

Total stock-based compensation costs
$
—

 
$
4,943

 
$
3,145

 
$
(1,046
)
 
 
$
7,042

Less: stock-based compensation costs capitalized
—

 
(1,487
)
 
(477
)
 
369

 
 
(1,595
)
Stock-based compensation costs expensed
$
—

 
$
3,456

 
$
2,668

 
$
(677
)
 
 
$
5,447

Six months ended June 30, 2012:
 

 
 

 
 

 
 

 
 
 

Total stock-based compensation costs
$
—

 
$
8,719

 
$
4,357

 
$
(113
)
 
 
$
12,963

Less: stock-based compensation costs capitalized
—

 
(3,195
)
 
(867
)
 
(130
)
 
 
(4,192
)
Stock-based compensation costs expensed
$
—

 
$
5,524

 
$
3,490

 
$
(243
)
 
 
$
8,771

Unamortized stock-based compensation costs
$
—

 
$
23,081

 
$
7,178

 
$
4,540

(3) 
 
$
34,799

Weighted average amortization period remaining
—

 
 2.1 years

 
2.0 years

 
1.6 years

 
 
2.0 years

Three months ended June 30, 2011:
 

 
 

 
 

 
 

 
 
 

Total stock-based compensation costs
$
278

 
$
4,763

 
$
767

 
$
(920
)
 
 
$
4,888

Less: stock-based compensation costs capitalized
(155
)
 
(1,937
)
 
(251
)
 
367

 
 
(1,976
)
Stock-based compensation costs expensed
$
123

 
$
2,826

 
$
516

 
$
(553
)
 
 
$
2,912

Six months ended June 30, 2011:
 

 
 

 
 

 
 

 
 
 

Total stock-based compensation costs
$
441

 
$
11,132

 
$
1,406

 
$
(332
)
 
 
$
12,647

Less: stock-based compensation costs capitalized
(226
)
 
(4,528
)
 
(430
)
 
167

 
 
(5,017
)
Stock-based compensation costs expensed
$
215

 
$
6,604

 
$
976

 
$
(165
)
 
 
$
7,630

____________________________________________
(1)
The Company also maintains an employee stock purchase plan (which is not included in the table) under which $.1 million and $.2 million of compensation cost was recognized for the three and six month periods ended June 30, 2012, respectively, and $.1 million and $.3 million of compensation cost was recognized for the three and six month periods ended June 30, 2011, respectively.
(2)
In addition to the compensation costs set forth in the table above, in June 2011 and March 2012 the Company granted cash-based long-term incentive awards under which $.2 million in compensation cost was recognized during the three months ended June 30, 2012 and a negligible amount of compensation cost was recognized during the three months ended June 30, 2011 and March 31, 2012. These awards vested in June 2012 due to the involuntary termination of the holder of the awards. The awards were comprised of time-based and performance-based components, with cash payout dependent on the change in the market value of Forest’s common stock during the performance period and the total shareholder return on Forest’s common stock in comparison to that of a peer group during the performance period, respectively. As of June 30, 2012, there are no remaining cash-based long-term incentive awards of this type outstanding.
(3)
Based on the closing price of Forest’s common stock on June 30, 2012.
Stock option activity in the entity's stock based compensation plans
The following table summarizes stock option activity in the Plans for the six months ended June 30, 2012. 
 
Number of
Options
 
Weighted
Average Exercise
Price
 
Aggregate
Intrinsic Value
(In Thousands)(1)
 
Number of
Options
Exercisable
Outstanding at January 1, 2012
1,766,587

 
$
14.55

 
$
2,731

 
1,766,587

Granted
—

 
—

 
 

 
 

Exercised
—

 
—

 
—

 
 

Cancelled
(11,906
)
 
21.86

 
 

 
 

Outstanding at June 30, 2012
1,754,681

 
$
14.50

 
$
—

 
1,754,681

____________________________________________
(1)
The intrinsic value of a stock option is the amount by which the market value of the underlying stock, as of the date outstanding or exercised, exceeds the exercise price of the option.
Summary of restricted stock, performance units, and phantom stock units activity
The following table summarizes the restricted stock, performance unit, and phantom stock unit activity in the Plans for the six months ended June 30, 2012.
 
 
Restricted Stock
 
Performance Units
 
Phantom Stock Units
 
Number of
Shares
 
Weighted
Average
Grant
Date
Fair
Value
 
Vest Date
Fair
Value
(In
Thousands)
 
Number
of
Units(1)
 
Weighted
Average
Grant
Date
Fair
Value
 
Vest Date
Fair
Value
(In
Thousands)
 
Number
of
Units(2)
 
Weighted
Average
Grant
Date
Fair
Value
 
Vest Date
Fair
Value
(In
Thousands)
Unvested at January 1, 2012
2,474,112

 
$
24.00

 
 

 
655,120

 
$
19.50

 
 

 
1,238,817

 
$
14.32

 
 

Awarded
1,506,514

 
10.20

 
 

 
511,500

 
14.70

 
 

 
—

 
—

 
 

Vested
(856,107
)
 
19.37

 
$
6,996

 
(289,920
)
 
18.16

 
$
—

 
(270,905
)
 
12.17

 
$
2,285

Forfeited
(264,270
)
 
19.66

 
 

 
(181,680
)
 
17.55

 
 

 
(58,524
)
 
15.87

 
 

Unvested at June 30, 2012
2,860,249

 
$
18.52

 
 

 
695,020

 
$
17.04

 
 

 
909,388

 
$
14.86

 
 

 ____________________________________________
(1)
Forest granted 511,500 performance units on March 12, 2012, with a grant date fair value of $14.70 each. Under the terms of the award agreements, each performance unit represents a contractual right to receive one share of Forest’s common stock; provided that the actual number of shares that may be deliverable under an award will range from 0% to 200% of the number of performance units awarded, depending on Forest’s relative total shareholder return in comparison to an identified peer group during the thirty-six-month performance period ending on February 28, 2015.
(2)
All of the unvested phantom stock units at June 30, 2012 must be settled in cash. The phantom stock units have been accounted for as a liability within the Condensed Consolidated Financial Statements. Of the 270,905 phantom stock units that vested during the six months ended June 30, 2012, 264,825 were settled in cash, while the remaining 6,080 were settled in shares.