Stock-Based Compensation

3 Months Ended

Mar. 31, 2012

Stock-Based Compensation [Abstract]

Stock-Based Compensation

Note 11. Stock-Based Compensation

For the three months ended March 31, 2012 and 2011, the Company recognized total stock-based compensation expense of $5.5 million in each period as well as related tax benefits of $1.0 million and $1.4 million, respectively. All stock-based compensation expenses are recognized using a graded method approach and are either classified within operating expenses or selling, general and administrative expenses on the accompanying condensed consolidated statements of operations, with substantially all of the expense being in selling, general and administrative expenses.

Stock Options

Stock option activity for the three months ended March 31, 2012 is summarized below:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2011		6,303,732		$	24.76
Options granted in 2012		0		$	0.00
Exercised in 2012		(95,000	)	$	21.11
Cancelled/forfeited/expired in 2012		(21,900	)	$	28.22
Outstanding at March 31, 2012		6,186,832		$	25.15		2.16	$	12,554,790
Exercisable at March 31, 2012		5,738,832		$	24.80		2.42	$	10,090,790
Vested or expected to vest in the future as of March 31, 2012		6,186,294		$	24.80		2.42	$	12,551,883

Of the stock options outstanding at March 31, 2012, options for 5,738,832 shares were exercisable and options for 448,000 shares were unvested. Of the total stock options outstanding at March 31, 2012, 6,186,294 were vested or expected to vest in the future, net of expected cancellations and forfeitures of 538. The intrinsic value of options exercised during the three months ended March 31, 2012 and 2011 amounted to $0.5 million and $0.2 million, respectively.

As of March 31, 2012, the total remaining unrecognized compensation cost related to unvested stock options amounted to $0.7 million, which will be amortized over the weighted-average remaining requisite service period of 0.6 years.

Restricted Stock

The following table summarizes information about restricted stock activity for the three months ended March 31, 2012:

	Shares			Weighted- Average Grant Date Fair Value Per Share
Unvested at December 31, 2011		2,542,989		$	21.67
Granted		1,113,500		$	25.46
Vested		0		$	00.00
Forfeited		(19,624	)	$	23.96
Unvested at March 31, 2012		3,636,865		$	22.82

As of March 31, 2012, the total remaining unrecognized compensation cost related to restricted stock amounted to $41.7 million, which will be amortized over the weighted-average remaining requisite service period of 1.7 years.