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Equity Compensation (Tables)
9 Months Ended
Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock-Based Compensation Expense and Related Income Tax Benefit

The stock-based compensation expense and related income tax benefit recognized in our Condensed Consolidated Statements of Income in the periods indicated were as follows:

 

     Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
     2013     2012     2013     2012  

Stock-based compensation expense

   $ 3,304      $ 4,291      $ 8,698      $ 13,046   

Income tax (benefit)

   ($ 1,272   ($ 1,652   ($ 3,349     ($5,023
Stock Options Granted, Forfeited, Exercised and Expired

The stock options granted, forfeited, exercised and expired in the period indicated were as follows:

 

     Nine Months Ended September 30, 2013  
           Weighted            Weighted         
           Average      Aggregate     Average      Aggregate  
     # of     Exercise      Exercise     Remaining      Intrinsic  
     Shares     Price      Price     Contractual Term      Value (1)  

Outstanding at beginning of period

     1,574,604      $ 84.90       $ 133,691        

Granted

     154,000      $ 19.31         2,974        

Forfeited

     (16,668   $ 75.11         (1,252     

Exercised

     0      $ 0.00         0        

Expired

     (361,988   $ 70.59         (25,554     
  

 

 

      

 

 

      

Outstanding at end of period

     1,349,948      $ 81.38       $ 109,858        2.7       $ 1,800   
  

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Exercisable at end of period

     1,060,443      $ 91.47       $ 97,003        2.3       $ 0   
  

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

 

(1) The aggregate intrinsic value of the stock options was calculated by identifying those stock options that had a lower exercise price than the closing market price of our common stock on September 30, 2013 and multiplying the difference between the closing market price of our common stock and the exercise price of each of those stock options by the number of shares subject to those stock options that were outstanding or exercisable, as applicable.
Stock Options Granted and Exercised

The following table sets forth information regarding the stock options granted and exercised in the periods indicated:

 

     Three Months
Ended
September 30,
     Nine Months
Ended
September 30,
 
     2013      2012      2013      2012  

Shares subject to stock options granted

     0         0         154,000         156,500   

Weighted average grant date fair value per share

   $ 0       $ 0       $ 9.16       $ 31.36   

Shares subject to stock options exercised

     0         4,855         0         202,820   

Intrinsic value of stock options exercised

   $ 0       $ 14       $ 0       $ 4,802   

Proceeds received from stock options exercised

   $ 0       $ 254       $ 0       $ 8,345   

Tax benefits realized from stock options exercised

   $ 0       $ 5       $ 0       $ 1,602   
Assumptions used to Estimate Grant Date Fair Value of Stock Options

The fair value of each stock option grant was estimated on the date of grant using the following assumptions:

 

     Three Months
Ended
September 30,
   Nine Months
Ended
September 30,
 
     2013    2012    2013     2012  

Risk-free interest rates

   Not applicable    Not applicable      0.7     0.7

Expected lives (in years)

   Not applicable    Not applicable      4.6        4.5   

Volatility

   Not applicable    Not applicable      60     51

Dividend yield

   Not applicable    Not applicable      None        None   
Number of Restricted Stock Units (RSUs) Granted, Forfeited and Vested

The following table sets forth the number of restricted stock units (“RSUs”) that were granted, forfeited and vested in the period indicated:

 

     Nine Months Ended
September 30, 2013
 
     # of RSUs     Weighted
Average
Grant Date
Fair Value
 

Unvested at beginning of period

     413,645      $ 75.35   

Granted

     521,614      $ 19.96   

Forfeited

     (94,471   $ 51.14   

Vested

     (68,066   $ 88.70   
  

 

 

   

Unvested at end of period

     772,722      $ 39.74