Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The Company recorded stock-based compensation in general and administrative expenses in the accompanying Consolidated Statements of Operations, the components of which are further described below for the years ended December 31, 2013, 2012, and 2011 (in thousands):



		2013		2012		2011
Restricted stock ⁽¹⁾	$	14,141		11,526		10,659
Directors' fees paid in common stock ⁽¹⁾		238		259		269
Capitalized stock-based compensation ⁽²⁾		(2,188	)	(1,979	)	(1,104	)
Stock-based compensation, net of capitalization	$	12,191		9,806		9,824

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes stock option activity during the year ended December 31, 2013:



	Number of Options		Weighted Average Exercise Price	Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2012	315,924	$	52.39	2.1	$	(1,664	)
Less: Exercised ⁽¹⁾	20,000		51.36
Less: Forfeited	—		—
Less: Expired	—		—
Outstanding of of December 31, 2013	295,924	$	52.46	1.1	$	(1,822	)
Vested and expected to vest as of December 31, 2013	295,924	$	52.46	1.1	$	(1,822	)
Exercisable as of December 31, 2013	295,924	$	52.46	1.1	$	(1,822	)

Schedule of Nonvested Share Activity

The following table summarizes non-vested restricted stock activity during the year ended December 31, 2013:



	Number of Shares		Intrinsic Value (in thousands)		Weighted Average Grant Price
Non-vested as of December 31, 2012	674,491
Add: Time-based awards granted^{(1) (4)}	140,850			$	50.69
Add: Performance-based awards granted ^{(2) (4)}	12,090			$	49.63
Add: Market-based awards granted ^{(3) (4)}	95,104			$	56.32
Less: Vested and Distributed ⁽⁵⁾	226,293			$	50.75
Less: Forfeited	10,545			$	42.31
Non-vested as of December 31, 2013 ⁽⁶⁾	685,697	$	31,748

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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