Stock-Based Compensation Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2013

Stock-Based Compensation Expense and Related Tax Benefit [Table Text Block]

For the years ended December 31, stock-based compensation expense and the related tax benefit were as follows:



	2013		2012		2011
	(in thousands)
Stock options	$	2,074	$	1,547	$	1,445
Restricted stock units	15,475		16,583		13,842
Unrestricted stock awards	811		769		469
ESPP	490		613		655
Total stock-based compensation	$	18,850	$	19,512	$	16,411

Related tax benefit	$	5,152	$	5,377	$	4,478

Stock Options, Valuation Assumptions [Table Text Block]

The fair values of stock options granted were estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:



	Year Ended December 31,
	2013		2012		2011
Dividend yield	—		—		—
Expected volatility	38.1	%	42.1	%	46.5	%
Risk-free interest rate	1.0	%	0.8	%	1.6	%
Expected term (years)	5.5		5.1		4.9

Employee Stock Options Activity [Table Text Block]

A summary of our stock option activity for the years ended December 31 is as follows:



	Shares		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value ⁽¹⁾		Weighted Average Grant Date Fair Value
	(in thousands)				(years)	(in thousands)
Outstanding, January 1, 2011	1,102		$	55.21	5.6	$	10,883
Granted	113		51.12					$	21.38
Exercised	(42	)	19.71			1,283
Forfeited	(63	)	58.50
Expired	(1	)	7.00
Outstanding, December 31, 2011	1,109		$	55.97	4.5	$	2,323

Granted	196		$	43.27				$	16.51
Exercised	(54	)	21.91			$	1,078
Expired	(114	)	69.37
Outstanding, December 31, 2012	1,137		$	54.06	4.8	$	3,815

Granted	129		$	42.76				$	15.44
Exercised	(74	)	23.87			$	1,377
Expired	(12	)	49.04
Outstanding, December 31, 2013	1,180		$	54.79	4.6	$	1,300

Exercisable, December 31, 2013	906		$	58.19	3.4	$	1,275

Expected to vest, December 31, 2013	263		$	43.59	8.8	$	25

⁽¹⁾

The aggregate intrinsic value of outstanding stock options represents amounts that would have been received by the optionees had all in- the-money options been exercised on that date. Specifically, it is the amount by which the market value of Itron’s stock exceeded the exercise price of the outstanding in-the-money options before applicable income taxes, based on our closing stock price on the last business day of the period. The aggregate intrinsic value of stock options exercised during the period is calculated based on our stock price at the date of exercise.

Schedule of Share-based Payment Award, Restricted Stock Units, Valuation Assumptions [Table Text Block]

The weighted-average assumptions used to estimate the fair value of performance-based restricted stock units awarded and the resulting weighted average fair-value are as follows:



	Year Ended December 31, 2013
Dividend yield	—
Expected volatility	39.1	%
Risk-free interest rate	0.3	%
Expected term (years)	2.5

Weighted-average fair value	$45.03

Restricted Stock Units Award Activity [Table Text Block]

The following table summarizes restricted stock unit activity for the years ended December 31:



	Number of Restricted Stock Units		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value⁽¹⁾
	(in thousands)				(in thousands)
Outstanding, January 1, 2011	588
Granted⁽²⁾	355		$	54.71
Released	(271	)			$	20,413
Forfeited	(47	)
Outstanding, December 31, 2011	625

Granted	464		$	47.21
Released	(275	)			$	16,855
Forfeited	(40	)
Outstanding, December 31, 2012	774

Granted	255		$	42.51
Released	(331	)			$	17,983
Forfeited	(40	)
Outstanding, December 31, 2013	658

Vested but not released, December 31, 2013	8				$	324

Expected to vest, December 31, 2013	589				$	24,391


⁽¹⁾	The aggregate intrinsic value is the market value of the stock, before applicable income taxes, based on the closing price on the stock release dates or at the end of the period for restricted stock units expected to vest.


⁽²⁾	These restricted stock units include 61,500 shares for the 2011 awards under the Performance Award Agreement, which are eligible for vesting at December 31, 2011

Unrestricted Stock Awards Activity [Table Text Block]

The following table summarizes unrestricted stock award activity for the years ended December 31:



	2013		2012		2011
	(in thousands, except per share data)
Shares of unrestricted stock granted	18		19		11

Weighted average grant date fair value per share	$	44.12	$	41.43	$	41.19

Employee Stock Purchase Plan (ESPP) Activity [Table Text Block]

The following table summarizes ESPP activity for the years ended December 31:



	2013		2012		2011
	(in thousands, except per share data)
Shares of stock sold to employees⁽¹⁾	94		101		99

Weighted average fair value per ESPP award⁽²⁾	$	6.61	$	6.29	$	6.22


⁽¹⁾	Stock sold to employees during each fiscal quarter under the ESPP is associated with the offering period ending on the last day of the previous fiscal quarter.


⁽²⁾	Relating to awards associated with the offering periods during the years ended December 31.

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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