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STOCK-BASED COMPENSATION (Details) (USD $)
3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Dec. 31, 2012
Mar. 31, 2013
One-time employee termination benefit costs
Sep. 30, 2013
Restricted Stock
Sep. 30, 2012
Restricted Stock
Sep. 30, 2013
Restricted Stock
Sep. 30, 2012
Restricted Stock
Sep. 30, 2013
Restricted Stock
Vesting Schedule One-Third On Each Of the First Three Anniversary Dates of the Grant
Sep. 30, 2013
Performance Units
Sep. 30, 2012
Performance Units
Sep. 30, 2013
Performance Units
Sep. 30, 2012
Performance Units
Sep. 30, 2013
Performance Units
Cash-settled
Sep. 30, 2013
Phantom Stock Units
Sep. 30, 2012
Phantom Stock Units
Sep. 30, 2013
Phantom Stock Units
Sep. 30, 2012
Phantom Stock Units
Sep. 30, 2013
Employee Stock Purchase Plan
Sep. 30, 2012
Employee Stock Purchase Plan
Sep. 30, 2013
Employee Stock Purchase Plan
Sep. 30, 2012
Employee Stock Purchase Plan
Stock-based compensation                                                
Total stock-based compensation costs $ 3,707,000 [1] $ 5,682,000 [1] $ 15,660,000 [1],[2] $ 18,645,000 [1]   $ 2,000,000 [1],[2] $ 1,644,000 $ 3,500,000 $ 9,089,000 $ 12,219,000   $ 301,000 $ 1,273,000 $ 3,034,000 $ 5,630,000   $ 1,762,000 $ 909,000 $ 3,537,000 $ 796,000 $ 40,000 $ 100,000 $ 200,000 $ 300,000
Less: stock-based compensation costs capitalized (1,950,000) [1] (2,292,000) [1] (6,545,000) [1],[2] (6,484,000) [1]     (877,000) (1,435,000) (3,871,000) (4,630,000)   (245,000) (455,000) (959,000) (1,322,000)   (828,000) (402,000) (1,715,000) (532,000)        
Stock-based compensation costs expensed 1,757,000 [1] 3,390,000 [1] 9,115,000 [1],[2] 12,161,000 [1]   1,000,000 [1],[2] 767,000 2,065,000 5,218,000 7,589,000   56,000 818,000 2,075,000 4,308,000   934,000 507,000 1,822,000 264,000        
Unamortized stock-based compensation costs 35,688,000 [1],[2],[3]   35,688,000 [1],[2],[3]       15,541,000 [3]   15,541,000 [3]     8,647,000 [3]   8,647,000 [3]     11,500,000 [3]   11,500,000 [3]          
Weighted average amortization period remaining     1 year 9 months 18 days [1],[2]           1 year 7 months 6 days         2 years 1 month 6 days         1 year 10 months 24 days          
One-time employee termination benefit costs           7,500,000                                    
One-time employee termination benefit costs, net of capitalized amounts           5,700,000                                    
Stock option activity                                                
Options outstanding at beginning of period (in shares)     870,816                                          
Granted (in shares)     0                                          
Exercised (in shares)     0                                          
Cancelled (in shares)     (223,800)                                          
Options outstanding at end of period (in shares) 647,016   647,016                                          
Stock Options, Weighted Average Exercise Price                                                
Options outstanding, beginning of period (in dollars per share)     $ 17.86                                          
Granted (in dollars per share)     $ 0.00                                          
Exercised (in dollars per share)     $ 0.00                                          
Cancelled (in dollars per share)     $ 19.87                                          
Options outstanding, end of period (in dollars per share) $ 17.16   $ 17.16                                          
Stock Options, Aggregate Intrinsic Value                                                
Aggregate intrinsic value for stock options at beginning of the period     0 [4]                                          
Aggregate intrinsic value for stock options exercised     0 [4]                                          
Aggregate intrinsic value for stock options at end of the period 0 [4]   0 [4]                                          
Stock Options, Number of Options Exercisable                                                
Options outstanding, exercisable number (in shares) 647,016   647,016   870,816                                      
Share-based compensation plan activity                                                
Unvested at beginning of period (in shares)                 2,721,637         939,180         1,161,737 [5]          
Awarded (in shares)                 2,163,877 [6]   1,229,901     1,182,500 [6]   950,000     1,724,701 [5]          
Vested (in shares)                 (837,894)         (203,240)         (93,044) [5]          
Forfeited (in shares)                 (565,900)         (256,500)         (286,904) [5]          
Unvested at end of period (in shares)             3,481,720   3,481,720     1,661,940   1,661,940     2,506,490 [5]   2,506,490 [5]          
Weighted Average Grant Date Fair Value                                                
Unvested at beginning of period (in dollars per share)                 $ 17.64         $ 15.20         $ 9.91          
Awarded (in dollars per share)                 $ 6.04         $ 5.47         $ 6.05          
Vested (in dollars per share)                 $ 21.67         $ 19.60         $ 10.55          
Forfeited (in dollars per share)                 $ 11.95         $ 9.59         $ 8.65          
Unvested at end of period (in dollars per share)             $ 10.38   $ 10.38     $ 8.61   $ 8.61     $ 7.37   $ 7.37          
Vest Date Fair Value                                                
Vested, Vest Date Fair Value                 $ 4,669,000         $ 0         $ 627,000          
Vesting rate per anniversary date of grant (as a percent)                     33.30%                          
Award vesting period (in years)                     3 years                          
Performance period for cash settled performance units                               36 months                
[1] Forest also maintains an employee stock purchase plan (which is not included in the table) under which $.04 million and $.2 million of compensation cost was recognized for the three and nine month periods ended September 30, 2013, respectively, and $.1 million and $.3 million of compensation cost was recognized for the three and nine month periods ended September 30, 2012, respectively.
[2] In connection with the divestiture of the South Texas oil and natural gas properties in the first quarter of 2013, Forest incurred one-time employee termination benefit costs that included $2.0 million ($1.0 million net of capitalized amounts) in stock-based compensation costs due to accelerated vesting of the affected awards. In addition to these stock-based compensation costs, in the first quarter of 2013, Forest incurred $7.5 million ($5.7 million net of capitalized amounts) in other one-time employee termination benefit costs related to this divestiture. All of these one-time employee termination benefit costs expenses are included in “General and administrative” in the Condensed Consolidated Statement of Operations for the nine months ended September 30, 2013 and no further one-time employee termination benefit costs are expected to be made for this specific divestiture. See Note 5 for more information regarding this divestiture.
[3] The unamortized stock-based compensation costs for liability-based awards are based on the closing price of Forest’s common stock at the reporting period end.
[4] 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.
[5] All of the unvested phantom stock units at September 30, 2013 must be settled in cash. The phantom stock units have been accounted for as a liability within the Condensed Consolidated Financial Statements. All of the phantom stock units that vested during the nine months ended September 30, 2013 were settled in cash.
[6] Of the restricted stock shares granted during the nine months ended September 30, 2013, 1,229,901 shares vest in increments of 33.3% on each of the first three anniversary dates of the grant. All other Forest restricted stock grants cliff vest on the third anniversary of the date of grant. Additionally, during the nine months ended September 30, 2013, Forest granted 950,000 performance units that are cash-settled, with the settlement amount dependent upon Forest’s relative total shareholder return in comparison to an identified peer group over a thirty-six month performance period. These performance units have been accounted for as a liability within the Condensed Consolidated Financial Statements. All of the other outstanding performance units are share-settled and utilize the same relative total shareholder return criteria to determine the settlement amount, other than certain peers used for comparison purposes. The share-settled performance units have been accounted for as equity-based awards within the Condensed Consolidated Financial Statements.