Equity Incentive Compensation Plans

6 Months Ended

Jun. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Equity Incentive Compensation Plans

Equity Incentive Compensation Plans

Stock-based compensation is measured at the grant date based on the fair value of the awards. The fair value is recognized on a straight-line basis over the requisite service period (generally the vesting period).

Total compensation cost recognized in the Condensed Statements of Operations for the grants under the Company's equity incentive compensation plans was $2.6 million and $2.2 million during the three months ended June 30, 2013 and 2012, respectively, and $5.6 million and $5.2 million during the six months ended June 30, 2013 and 2012, respectively.

Stock Options

The following table summarizes stock option activity for the six months ended June 30, 2013:

	Number of Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands)(1)		Weighted Average Remaining Contractual Term (Years)
Outstanding at January 1, 2013	1,387,592		$	33.71	$	4,681
Granted	—		—
Exercised	(3,000	)	21.58		76
Canceled/expired	—		—
Outstanding at June 30, 2013	1,384,592		$	33.74	$	13,465	3.59
Vested and expected to vest at June 30, 2013	1,383,778		$	33.73	$	13,465	3.59
Exercisable at June 30, 2013	1,278,372		$	32.29	$	13,465	3.20

__________________________________

(1) The intrinsic value of a stock option is the amount by which the market value of the underlying stock at the end of the related period exceeds the exercise price of the option.

As of June 30, 2013, there were $2.0 million of total unrecognized compensation costs related to outstanding stock options. These costs are expected to be recognized over 2.8 years.

Restricted Stock Units

The following table summarizes restricted stock unit (RSU) activity for the six months ended June 30, 2013:

	RSUs		Weighted Average Grant Date Fair Value		Vest Date Fair Value (in thousands)
Outstanding at January 1, 2013	981,877		$	26.72
Granted	264,033		45.27
Issued	(176,724	)	24.68		$	6,884
Canceled/expired	(13,707	)	43.85
Outstanding at June 30, 2013(1)(2)	1,055,479		$	32.02

__________________________________

(1) The balance outstanding includes 58,036 RSUs granted to non-employee directors that are 100% vested at date of grant, but are subject to deferral elections delaying the date on which the corresponding shares are issued.

(2) The balance outstanding includes 510,967 RSUs granted to executive officers and other officers that have vested in accordance with the RSU agreement but are subject to deferral elections delaying the date on which the corresponding shares are issued.

As of June 30, 2013, there were $18.9 million of total unrecognized compensation costs related to RSUs granted. These costs are expected to be recognized over 3.8 years.

Performance Share Program

The following table summarizes performance share award activity for the six months ended June 30, 2013:

	Performance Share Awards(1)		Weighted Average Grant Date Fair Value		Vest Date Fair Value (in thousands)
Outstanding at January 1, 2013	222,587		$	45.79
Granted	—		—
Issued	(64,922	)	32.75		$	2,990
Canceled/expired	(34,742	)	28.32
Outstanding at June 30, 2013	122,923		$	57.61

__________________________________

(1) For outstanding shares, reflects the maximum number of performance shares that can be issued.

As of June 30, 2013, there were $1.5 million of total unrecognized compensation costs related to performance shares granted. These costs are expected to be recognized over 1.5 years.