Stock-Based Compensation

9 Months Ended

Sep. 30, 2012

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

Stock-Based Compensation

Stock-Based Compensation

For the three months ended September 30, 2011 and 2012, we recognized stock-based compensation expense totaling $2.2 million and $1.7 million, respectively. A majority of the expense, $1.9 million and $1.6 million, respectively, was recorded as selling and administrative expenses in the Consolidated Statements of Income, with the remaining expenses recorded as cost of sales and research and development.

For the nine months ended September 30, 2011 and 2012, we recognized $6.1 million and $8.1 million, respectively, in stock-based compensation expense. A majority of the expense, $5.4 million and $7.3 million, respectively, was recorded as selling and administrative expenses in the Consolidated Statements of Income, with the remaining expenses recorded as cost of sales and research and development.

As of September 30, 2012, the total compensation cost related to non-vested restricted stock, performance shares and stock options not yet recognized was $15.9 million, which will be recognized over the weighted average life of 1.2 years.

Restricted Stock and Performance Shares

Restricted stock and performance share awards activity under the plans for the nine months ended September 30, 2012 was:

	Number of Shares		Weighted- Average Grant  Date Fair Value
Outstanding unvested as of January 1, 2012	1,725,158		$	15.82
Granted	114,706		14.27
Vested	(380,396	)	13.15
Forfeited/canceled/expired	(105,079	)	16.04
Outstanding unvested as of September 30, 2012	1,354,389		16.42

Stock Options

Stock option activity under the plans for the nine months ended September 30, 2012 was:

	Number of Shares		Weighted- Average Exercise Price
Outstanding as of January 1, 2012	1,327,087		$	13.15
Granted	26,300		14.76
Forfeited/canceled/expired	(8,671	)	10.60
Exercised	(21,401	)	15.74
Outstanding as of September 30, 2012	1,323,315		13.16