Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense related to stock options, ESPP purchases, RSUs, and RSAs under ASC 718 for the three and nine months ended September 30, 2012 and 2011 is summarized as follows (in thousands):


	Three months ended September 30,						Nine months ended September 30,
	2012			2011			2012			2011
Stock-based compensation expense by type of award:
Employee stock options	$	277		$	401		$	739		$	1,736
Non-vested RSUs and RSAs		3,755			4,050			11,651			13,195
ESPP		873			836			1,948			2,632

Total stock-based compensation		4,905			5,287			14,338			17,563
Tax effect on stock-based compensation		(1,121	)		(1,870	)		(3,982	)		(5,600	)

Net effect on net income	$	3,784		$	3,417		$	10,356		$	11,963

Schedule of Estimated Per Share Weighted Average Fair Value of Stock Options Granted and Assumptions Used to Estimate Fair Value

The estimated per share weighted average fair value of stock options granted and the assumptions used to estimate fair value for the three and nine months ended September 30, 2012 and 2011 are as follows:


	Three months ended September 30,					Nine months ended September 30,
	2012			2011 ⁽¹⁾		2012			2011
Weighted average fair value per share	$	16.57			N/A	$	16.57		$	6.80
Expected volatility		43.8	%		N/A		43.8	%		47.7	%
Risk-free interest rate		0.5	%		N/A		0.5	%		1.4	%
Expected term (in years)		4.00			N/A		4.00			4.00

(1)	No stock options were granted during the three months ended September 30, 2011.

Schedule of Estimated Per Share Weighted Average Fair Value of Stock Options Granted and Assumptions Used to Estimate Fair Value

The estimated per share weighted average fair value of ESPP shares issued and the assumptions used to estimate fair value for the three and nine months ended September 30, 2012 and 2011 are as follows:


	Three months ended September 30,						Nine months ended September 30,
	2012			2011			2012			2011
Weighted average fair value per share	$	4.44		$	4.98		$	4.70		$	4.79
Expected volatility		32% - 41	%		28% - 36	%		32% - 49	%		28% - 42	%
Risk-free interest rate		0.1% - 0.2	%		0.2% - 0.4	%		0.1% - 0.2	%		0.2% - 0.6	%
Expected term (in years)		0.5 - 2.0			0.5 - 2.0			0.5 - 2.0			0.5 - 2.0

Schedule of Stock Options Outstanding and Exercisable

Stock options outstanding and exercisable as of September 30, 2012 and activity for the nine months ended September 30, 2012 are summarized below (in thousands, except for weighted average exercise price and contractual term):


	Options outstanding			Weighted average exercise price		Weighted average remaining contractual term (years)		Aggregate intrinsic value
Options outstanding at January 1, 2012		2,453		$	14.67
Options granted		125			16.57
Options forfeited and expired		(255	)		15.61

Options forfeited and expired, net of granted		(130	)
Options exercised		(749	)		15.76

Options outstanding at September 30, 2012		1,574		$	14.15		3.96	$	4,538

Options vested and expected to vest at September 30, 2012		1,504		$	14.18		3.90	$	4,315

Options exercisable at September 30, 2012		994		$	14.63		3.20	$	2,595

Schedule of Non-Vested Shares of RSUs

Non-vested RSUs as of September 30, 2012 and activity during the nine months ended September 30, 2012 are summarized below (shares in thousands):


	Shares			Weighted average grant date fair value
Non-vested at January 1, 2012		2,502		$	13.60
Restricted stock granted		1,231			16.02
Restricted stock vested		(1,204	)		13.04
Restricted stock forfeited		(134	)		13.24

Non-vested at September 30, 2012		2,395		$	15.15