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STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2014
STOCK-BASED COMPENSATION  
Schedule of weighted-average assumptions used to estimate the fair value of options granted

 

 

 

Three-Months Ended June 30,

 

Six-Months Ended June 30,

 

 

 

2014

 

2013

 

2014

 

2013

 

Dividend yield

 

0.0 %

 

0.0 %

 

0.0 %

 

0.0 %

 

Expected volatility

 

37.4 %

 

48.1 %

 

42.4 %

 

47.9 %

 

Risk-free interest rate

 

1.6 %

 

1.0 %

 

1.6 %

 

0.9 %

 

Expected term

 

5.6 years

 

6.1 years

 

5.9 years

 

5.7 years

 

 

Summary of activities with respect to its stock option plans

 

 

Options

 

Number of
Shares (In
thousands)

 

Weighted-
Average
Exercise
Price Per
Share

 

Weighted-
Average
Remaining
Contractual
Term (In
years)

 

Aggregate
Intrinsic Value

 

Outstanding at January 1, 2014

 

12,973

 

  $

15.70

 

3.7

 

  $

675,595

 

Granted 01/01/14 - 03/31/14

 

689

 

  $

70.06

 

 

 

 

 

Granted 04/01/14 - 06/30/14

 

99

 

  $

69.16

 

 

 

 

 

Exercised

 

(317)

 

  $

24.30

 

 

 

 

 

Cancelled or forfeited

 

(62)

 

  $

45.18

 

 

 

 

 

Outstanding at June 30, 2014

 

13,382

 

  $

18.55

 

3.6

 

  $

702,248

 

Vested and expected to vest in the future at June 30, 2014

 

12,918

 

  $

17.22

 

3.4

 

  $

695,088

 

Exercisable at June 30, 2014

 

10,531

 

  $

10.15

 

2.3

 

  $

641,150

 

Summary of activities with respect to non-vested restricted stock awards and non-vested restricted stock units

 

 

 

Number of
Shares (in
thousands)

 

Weighted
Average
Grant-Date
Fair Value

 

Non-vested at January 1, 2014

 

391

 

  $

49.27

 

Granted 01/01/14 - 03/31/14

 

-

 

  $

-

 

Granted 04/01/14 - 06/30/14

 

10

 

  $

69.00

 

Vested

 

(39)

 

  $

53.98

 

Forfeited/cancelled

 

(8)

 

  $

53.34

 

Non-vested at June 30, 2014

 

354

 

  $

49.23