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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Total Stock-Based Compensation Expense Recognized

Total compensation expense recognized for the years ended December 31, 2014, 2013 and 2012 was as follows:

 

 

 

December 31,

 

 

 

2014

 

 

2013

 

 

2012

 

 

 

(In thousands)

 

Stock options

 

$

1,747

 

 

$

4,321

 

 

$

3,984

 

Restricted stock and restricted stock units

 

 

14,417

 

 

 

12,326

 

 

 

6,880

 

Performance shares

 

 

352

 

 

 

4,453

 

 

 

4,505

 

Total

 

$

16,516

 

 

$

21,100

 

 

$

15,369

 

 

Total Gross Unrecognized Estimated Compensation Expense and Expected Weighted-Average Periods

The components of the total gross unrecognized estimated compensation expense and their expected remaining weighted-average periods for expense recognition are as follows (amounts in thousands; periods in years):

 

 

 

Amount

 

 

Weighted-Average Period

 

Stock options

 

$

1,457

 

 

 

1.1

 

Restricted stock and restricted stock units

 

$

21,164

 

 

 

2.1

 

Performance shares

 

$

4,140

 

 

 

1.9

 

 

Weighted Average Assumptions

The fair value of each option grant was estimated with the following weighted-average assumptions:

 

 

 

Year Ended December 31,

 

 

 

2014

 

2013

 

 

2012

 

Risk-free interest rate

 

 

 

0.68

%

 

 

0.77

%

Expected volatility

 

 

 

56

%

 

 

59

%

Expected life of the option in years

 

 

 

4.60

 

 

 

4.60

 

Expected dividend yield

 

 

 

0.0

%

 

 

0.0

%

 

Activity for Stock Option

The following table summarizes activity for our stock options for the year ended December 31, 2014 (share data in thousands):

 

 

 

Number of Option Shares

 

 

Weighted-Average Exercise Price

 

 

Weighted-Average Remaining Contractual Term

 

Aggregate Intrinsic Value

(in millions)

 

Outstanding at beginning of period

 

 

3,762

 

 

$

11.78

 

 

 

 

 

 

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(169

)

 

 

2.14

 

 

 

 

 

 

 

Cancelled/expired/forfeited

 

 

(300

)

 

 

12.75

 

 

 

 

 

 

 

Outstanding at end of period(1)

 

 

3,293

 

 

$

12.18

 

 

3.3 Years

 

$

0.0

 

Exercisable at end of period

 

 

2,521

 

 

$

12.47

 

 

2.8 Years

 

$

0.0

 

 

(1)

Of the remaining outstanding options at the end of the period, we expect approximately 0.7 million shares underlying the options to vest at a weighted-average exercise price of $11.27.

Nonvested Restricted Stock, Restricted Stock Units and Changes

Nonvested restricted stock and restricted stock units and changes during the year ended December 31, 2014 were as follows (share data in thousands):

 

 

 

Number of Shares

 

 

Weighted-Average Grant Date Fair Value

 

Nonvested at beginning of period

 

 

3,767

 

 

$

9.18

 

Granted

 

 

2,536

 

 

 

7.56

 

Vested

 

 

(1,097

)

 

 

10.69

 

Cancelled/forfeited

 

 

(558

)

 

 

8.66

 

Nonvested at end of period

 

 

4,648

 

 

$

8.00

 

 

Nonvested Performance Shares and Performance Unit Awards and Changes

Nonvested performance share awards and changes during the year ended December 31, 2014 were as follows (share data in thousands):

 

 

 

Number of Shares

 

 

Weighted-Average Grant Date Fair Value

 

Nonvested at beginning of period

 

 

1,168

 

 

$

13.70

 

Granted

 

 

626

 

 

 

7.76

 

Vested

 

 

 

 

 

 

Cancelled/forfeited

 

 

(342

)

 

 

11.97

 

Nonvested at end of period

 

 

1,452

 

 

$

11.55