XML 15 R33.htm IDEA: XBRL DOCUMENT v2.4.0.6
STOCKHOLDERS' EQUITY (Tables)
12 Months Ended
Dec. 31, 2011
Stockholders' Equity Note [Abstract]  
Compensation cost charged to expense under all stock-based incentive awards
Compensation cost charged to expense under all stock-based incentive awards is presented below (in thousands):


   
2011
  
2010
  
2009
 
           
Restricted stock and units
 $15,912  $13,379  $10,334 
Stock appreciation rights
  5,813   2,678   855 
Stock options
  239   239   378 
Performance-based awards
  124   (718)  1,467 
Total compensation cost
  22,088   15,578   13,034 
Less: Discontinued operations
  (1,003)  (1,310)  (1,181)
Continuing operations
 $21,085  $14,268  $11,853 
Restricted stock activity
The Company measures compensation related to each share based on the market price of the common stock on the date of grant.  Restricted stock activity for the year ended December 31, 2011, is summarized below:

   
Shares
  
Weighted-average grant-date fair value per share
 
        
Nonvested at January 1, 2011
  991,629  $24.01 
Granted
  474,818   40.97 
Vested
  (564,440)  26.30 
Forfeited
  (23,518)  32.17 
Nonvested at December 31, 2011
  878,489  $31.49 
Restricted stock unit activity
The Company measures compensation related to each unit based on the market price of the underlying common stock on the grant date.  RSU activity for the year ended December 31, 2011, is summarized below:


   
Units
  
Weighted-average grant-date fair value per share
 
        
Outstanding at January 1, 2011
  170,406  $33.17 
Granted
  37,565   41.00 
Outstanding at December 31, 2011
  207,971  $34.59 
          
Vested at December 31, 2011
  170,406  $33.17 
Performance-based award activity
Performance-based award activity for the year ended December 31, 2011, is summarized below:


   
Number of shares issuable at target
  
Weighted-average grant-date fair value per share
 
        
Unearned awards outstanding at January 1, 2011
  85,015  $43.96 
Vested
  (53,984)  43.96 
Lapsed, unearned
  (31,031)  43.96 
Unearned awards outstanding at December 31, 2011
  -  $- 
Weighted-average assumptions used to determine fair values of SARs
Fair values of SARs granted were determined using the Black-Scholes option pricing model with the following weighted-average assumptions (no options were granted in 2011, 2010 or 2009):


   
2011
  
2010
  
2009
 
           
Expected life in years
  5.7   6.0   6.0 
Risk-free interest rate
  2.269%  2.725%  2.375%
Expected volatility
  49.16%  50.16%  52.86%
Weighted-average grant-date per-share fair value
 $19.76  $14.00  $9.03 
Stock option activity
Stock option activity for the year ended December 31, 2011, is summarized below:

   
Number of shares under option
  
Weighted-average exercise price
  
Weighted-average remaining contractual term (in years)
  
Aggregate intrinsic value (in thousands)
 
              
Outstanding at January 1, 2011
  1,471,899  $23.23       
Exercised
  (879,083)  22.68       
Forfeited or expired
  (33,611)  37.06       
Outstanding at December 31, 2011
  559,205  $23.26   3.2  $4,876 
                  
Exercisable at December 31, 2011
  559,205  $23.26   3.2  $4,876 
SARs activity
SARs activity for the year ended December 31, 2011, is summarized below:

   
Number of shares under SARs
  
Weighted-average exercise price
  
Weighted-average remaining contractual term (in years)
  
Aggregate intrinsic value (in thousands)
 
              
Outstanding at January 1, 2011
  828,185  $21.43       
Granted
  363,810   41.00       
Forfeited
  (3,560)  17.22       
Outstanding at December 31, 2011
  1,188,435  $27.43   7.2  $7,893 
                  
Exercisable at December 31, 2011
  455,648  $20.22   6.7  $4,978