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Stock-Based and Other Incentive Compensation (Tables)
 12 Months Ended
Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model. The weighted-average assumptions used in the model are outlined in the following table:
 
 
2012
 
2011
 
2010
Assumptions:
 
 
 
 
 
 
Expected volatility
 
56
%
 
52
%
 
51
%
Risk-free interest rate
 
1.3
%
 
1.9
%
 
2.6
%
Dividend yield
 
—

 
—

 
—

Expected life (in years)
 
6

 
6

 
6
Stock options outstanding under equity-based compensation plans
Stock Options
A summary of the changes in stock options outstanding under our equity-based compensation plans during 2012 is presented below:






SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(in thousands, except per share amounts)

(16) Stock-Based and Other Incentive Compensation (Continued)

 
 
Number of
Options
 
Weighted
Average
Remaining
Contract
Term (Years)
 
Weighted
Average
Exercise
Price
 
Aggregate
Intrinsic
Value
Options outstanding as of December 31, 2011
 
3,868

 
8.3

 
$
9.67

 
$
3,876

Granted
 
30

 
 

 
$
8.86

 
—

Exercised
 
(302
)
 
 

 
$
6.76

 
$
479

Cancelled
 
(135
)
 
 

 
$
24.33

 
—

Options outstanding as of December 31, 2012
 
3,461

 
7.8

 
$
9.34

 
$
659

Options exercisable as of December 31, 2012
 
964

 
7.4

 
$
10.65

 
$
9

Options expected to vest after December 31, 2012
 
2,495

 
8.0

 
$
8.83

 
$
650
RSUs outstanding under equity-based compensation plans
Restricted Stock Units
A summary of the changes in RSUs outstanding under our equity-based compensation plans during 2012 is presented below:


SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(in thousands, except per share amounts)

(16) Stock-Based and Other Incentive Compensation (Continued)
 
 
Number of
Restricted
Stock
Units
 
Weighted
Average
Grant Date
Fair Value
Unvested RSUs as of December 31, 2011
 
4,771

 
$
10.49

Granted
 
1,697

 
$
12.23

Vested
 
(1,538
)
 
$
11.24

Cancelled
 
(115
)
 
$
12.10

Unvested RSUs as of December 31, 2012
 
4,815

 
$
10.53