EQUITY-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2013

Weighted Average Assumptions

The weighted average estimated fair value of employee stock options, share appreciation rights (“SAR”) and restricted stock units (“RSU”) granted during the three months ended March 31, 2013 and 2012 was $4.30 and $2.36 per share, respectively, using the binomial model, with the following weighted average assumptions (annualized percentages):

	Three months ended March 31, 2013			Three months ended March 31, 2012
Volatility (1)		46.23	%		48.30	%
Risk-free interest rate (1)		1.40	%		2.24	%
Dividend yield (1)		0	%		0	%
Pre-vest cancellation rate		3.75	%		3.62	%
Post-vest cancellation rate (1)		1.31	%		2.69	%
Suboptimal exercise factor (1)		1.75			1.57

(1) The RSUs granted during the three months ended March 31, 2013 were not included in the average calculated numbers in the table above since those parameters were not used in the RSU calculation.

Company's Stock Option and SAR Grants to Equity Incentive Plans

The table below presents a summary of information relating to the Company’s stock option, RSU and SAR grants pursuant to its equity incentive plans:

	Number of Options/SARs / RSUs			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years) (3)		Aggregate Value (*)
	in thousands							in thousands
Outstanding at January 1, 2013		9,622		$	10.72
Options granted		434		$	6.07
RSUs granted		350			—
Options / SARs / RSUs cancelled/forfeited/expired		(497	)	$	12.45
Options / SARs / RSUs exercised		(408	)	$	6.22
Outstanding at March 31, 2013 (1)		9,501		$	10.21		3.44		10,876
Exercisable at March 31, 2013 (2)		7,022		$	11.83		2.67		4,855

(*) Calculation of aggregate intrinsic value is based on the share price of the Company’s common stock on March 31, 2013 ($8.07 per share).

(1) Due to the ceiling imposed on the SAR grants, the outstanding amount above can be exercised for a maximum of 6,763 shares of the Company’s common stock as of March 31, 2013. SAR grants made prior to January 1, 2009 are convertible for a maximum number of shares of the Company’s common stock equal to 50% of the SARs subject to the grant. SAR grants made on or after January 1, 2009 and before January 1, 2010 are convertible for a maximum number of shares of the Company’s common stock equal to 75% of the SARs subject to the grant. SAR grants made on or after January 1, 2010 and before January 1, 2012 are convertible for a maximum number of shares of the Company’s common stock equal to 66.67% of the SARs subject to the grant. SAR grants made on or after January 1, 2012 are convertible for a maximum number of shares of the Company’s common stock equal to 50% of the SARs subject to the grant.

(2) Due to the ceiling imposed on the SAR grants, the exercisable amount above can be exercised for a maximum of 4,856 shares of the Company’s common stock as of March 31, 2013.

(3) Calculation of weighted average remaining contractual term does not include the RSUs that were granted, which have indefinite contractual term.

Company's Stock Options and SAR Units Outstanding and Exercisable

Additional information about stock options, SARs and RSUs outstanding and exercisable at March 31, 2013 with exercise prices above $8.07 per share (the closing price of the Company’s common stock on March 31, 2013) is as follows:

	Exercisable				Unexercisable				Total
Exercise Prices	Number of Options/ SARs / RSUs (in thousands)		Weighted Average Exercise Price		Number of Options/ SARs / RSUs (in thousands)		Weighted Average Exercise Price		Number of Options/ SARs / RSUs (in thousands)		Weighted Average Exercise Price
Above $8.07		3,503	$	16.99		56	$	8.25		3,560	$	16.85
Less than $8.07		3,519	$	6.69		2,423	$	5.58		5,942	$	6.24
Total		7,022	$	11.83		2,479	$	5.65		9,501	$	10.21