Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Restricted Stock Awards Activity

A summary of restricted stock awards activity during the year ended December 31, 2012 is as follows:

						Aggregate
				Weighted Average		Intrinsic
	Number			Grant Date		Value
	of Shares			Fair Value		(in thousands)
Total Granted and Unvested - January 1, 2012		1,185,832		$	19.65	$	14,633
Vested		(208,332	)	$	24.36	$	2,627
Granted		293,333		$	14.39	$	4,019
Forfeited		(129,167	)	$	13.60		-
Total Granted and Unvested		1,141,666		$	18.12	$	15,641
Approved for grant		888,335		(a)		$	12,170
Total Awarded and Unvested – December 31, 2012		2,030,001		n.a.		$	27,811

(a)

Grant date fair value cannot be determined currently because the related performance targets for future years have not yet been established by the Compensation Committee.

Vesting Schedule of Outstanding Unvested Restricted Stock Awards

The outstanding unvested restricted stock awards at December 31, 2012 are scheduled to vest as follows, subject where applicable to the achievement of performance targets. As described above, certain performance targets have not yet been established.

	Number
Vesting Date	of Awards

2013		896,666
2014		408,335
2015		150,000
2016		165,000
2017		410,000
Total		2,030,001

Summary of Stock Option Activity

A summary of stock option activity during the year ended December 31, 2012 is as follows:

				Weighted Average
	Number			Grant Date		Exercise
	of Shares			Value		Price
Total Granted and Outstanding - January 1, 2012		1,225,465		$	10.11	$	18.45
Granted		165,000		$	5.65	$	19.51
Forfeited		(75,000	)	$	7.20		-
Total Granted and Outstanding		1,315,465		$	9.72	$	18.91
Approved for grant		830,000		(a)		$	12.80
Total Awarded and Outstanding – December 31, 2012		2,145,465		n.a.		$	16.55

(a) Grant date fair value cannot be determined currently because the related performance targets for future years have not yet been established by the Compensation Committee.

Key Assumptions Used in Estimating Grant Date Fair Value of Stock Option Awards

The following table details the key assumptions used in estimating the grant date fair values of stock option awards granted during 2012, 2011 and 2010 based on the Black-Scholes option pricing model:

	Grant dates established during
	2012		2011				2010
Awarded during	2012	2009 (1)	2011	2011	2011	2009 (1)	2009 (1)

Number of options	15,000	150,000	140,000	30,000	40,465	150,000	150,000
Risk-free interest rate	1.12%	0.88%	1.13%	1.25%	0.89%	2.74%	2.65%
Expected life of options (years)	7.3	4.4	6.0	6.5	5.0	6.5	5.7
Expected volatility of underlying stock	50.59%	53.89%	49.86%	48.70%	51.62%	46.94%	48.38%
Expected quarterly dividends (per share)	-	-	-	-	-	-	-

(1)

During 2009, the Compensation Committee approved the award of 750,000 stock options that vest in five equal annual installments from 2010 to 2014 subject to the achievement of pre-tax income performance targets established by the Compensation Committee. The Compensation Committee has established the performance targets for fiscal years 2010, 2011 and 2012, and these tranches were deemed granted for accounting purposes.

Restricted Stock Units [Member]

Stock-Based Compensation [Abstract]

Compensation Expense Included in General and Administrative Expenses

The following table presents the compensation expense recognized related to the restricted stock awards which is included in general and administrative expenses in the Consolidated Statements of Operations:

	Year ended December 31,
	2012		2011		2010
	(in millions)
Restricted Stock Compensation Expense	$	7.1	$	5.7	$	9.5
Related Income Tax Benefit	$	1.5	$	2.5	$	3.6

Stock Options [Member]

Stock-Based Compensation [Abstract]

Compensation Expense Included in General and Administrative Expenses

The following table presents the compensation expense recognized related to stock option grants which is included in general and administrative expenses in the Consolidated Statements of Operations:

	Year ended December 31,
	2012		2011		2010
	(in millions)
Stock Option Compensation Expense	$	2.4	$	3.1	$	3.3
Related Income Tax Benefit	$	1.0	$	1.3	$	1.3