XML 59 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock-Based Compensation
 3 Months Ended
Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
Our stock-based compensation expense consists primarily of time-based and performance based stock options, restricted stock units and restricted stock awards that have been granted to management, other personnel and key service providers.  
Stock-Based Compensation Expense
 
Three Months Ended March 31,
(In millions)
2014
 
2013
Amounts included in:
 
 
 
Corporate expense
$
6.8

 
$
0.7

Property, general, administrative, and other
19.6

 
2.9

Total stock-based compensation expense
$
26.4

 
$
3.6


During the three months ended March 31, 2014 and 2013, the Company recorded $18.3 million and $1.3 million, respectively, of expense related to stock-based awards of its subsidiaries, of which $16.4 million and $0.5 million, respectively, related to liability-classified awards that are re-measured to fair value at each reporting date, and $1.9 million and $0.8 million, respectively, related to equity-classified awards that are measured at their fair value at the date of grant.
Stock Option Activity
 
Shares 
 
Weighted Average
Exercise Price
Outstanding at December 31, 2013
8,463,811

 
$
12.09

Granted
—

 
—

Exercised
(77,527
)
 
11.53

Forfeited
(16,784
)
 
8.89

Expired
(3,830
)
 
14.73

Outstanding at March 31, 2014
8,365,670

 
$
12.08

Vested and expected to vest at March 31, 2014
8,033,454

 
$
11.89

Exercisable at March 31, 2014
2,966,899

 
$
14.02


Restricted Stock Unit Activity
 
Units
 
Fair Value
Outstanding as of December 31, 2013
1,503,534

 
$
13.74

Granted
1,104

 
23.03

Canceled
(14,232
)
 
13.75

Vested
(371,151
)
 
13.71

Outstanding as of March 31, 2014
1,119,255

 
$
13.76


In addition to the restricted stock unit ("RSU") activity presented above, during the three months ended March 31, 2014 there were 388 RSUs granted relating to a consolidated entity with a weighted-average grant date fair value per RSU of $8,500. As of March 31, 2014, there were 8,324 RSUs outstanding relating to a consolidated entity with a weighted-average grant date fair value per RSU of $4,051.
Restricted Common Stock Awards
For the year ended December 31, 2012, the Company granted 50,000 shares of restricted common stock to an executive officer of the Company under the Company's 2012 Incentive Plan. The restricted common stock vests annually in equal amounts over two years. As of March 31, 2014 and December 31, 2013, 25,000 shares of restricted common stock were outstanding, respectively. For the three months ended March 31, 2014 and 2013, there were no shares of restricted common stock granted.