|
Stock-Based Awards (Tables)
|
12 Months Ended |
|
Dec. 31, 2012
|
| Share-based Compensation [Abstract] |
|
| Stock-Based Compensation Expense |
Stock-based compensation expense is included in the following line items in the accompanying consolidated statements of operations (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
2012 |
|
2011 |
|
2010 |
Selling and marketing |
|
$ |
3,515 |
|
|
$ |
4,722 |
|
|
$ |
4,042 |
|
General and administrative |
|
15,541 |
|
|
21,679 |
|
|
17,190 |
|
Stock-based compensation expense before income taxes |
|
19,056 |
|
|
26,401 |
|
|
21,232 |
|
Income tax benefit |
|
(6,494 |
) |
|
(8,792 |
) |
|
(8,441 |
) |
Stock-based compensation expense after income taxes |
|
$ |
12,562 |
|
|
$ |
17,609 |
|
|
$ |
12,791 |
|
|
|
|
|
|
|
|
|
| Summary Of Status Of Nonvested RSUs |
A summary of the status of the nonvested RSUs, as of December 31, 2012 and changes during the year ended December 31, 2012 is as follows:
|
|
|
|
|
|
|
|
|
|
|
Number of
RSUs
|
|
Weighted
Average Grant
Date Fair Value
|
Nonvested at 1/1/12 |
|
1,595,796 |
|
|
$ |
15.38 |
|
Granted |
|
313,084 |
|
|
36.51 |
|
Vested |
|
(882,056 |
) |
|
8.51 |
|
Forfeited |
|
(154,715 |
) |
|
25.70 |
|
Nonvested at 12/31/12 |
|
872,109 |
|
|
28.02 |
|
|
| Summary Of Status Of Outstanding Stock Options And SARs |
A summary of the status of the outstanding stock options and SARs as of December 31, 2012 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
options
|
|
Weighted
Average
Exercise Price
|
|
Weighted
Average
Remaining
Contractual
Term (in years)
|
|
Aggregate
Intrinsic Value
|
Outstanding at January 1, 2012 |
|
4,009,427 |
|
|
$ |
22.63 |
|
|
|
|
|
Granted |
|
357,415 |
|
|
35.69 |
|
|
|
|
|
Exercised |
|
(1,542,969 |
) |
|
15.61 |
|
|
|
|
|
Forfeited |
|
— |
|
|
— |
|
|
|
|
|
Expired |
|
(47,180 |
) |
|
18.85 |
|
|
|
|
|
Outstanding at December 31, 2012 (1) |
|
2,776,693 |
|
|
28.28 |
|
|
6.1 |
|
$ |
74,407,602 |
|
Vested and expected to vest at December 31, 2012 |
|
2,722,267 |
|
|
28.18 |
|
|
6.1 |
|
$ |
73,229,471 |
|
Exercisable at December 31, 2012 |
|
2,041,397 |
|
|
27.44 |
|
|
5.3 |
|
$ |
56,433,155 |
|
|
|
(1) |
Approximately 0.3 million stock options outstanding as of December 31, 2012 were held by employees of the other Spincos.
|
|
| Weighted Average Assumptions Used In Black-Scholes Option Pricing Model |
The weighted average assumptions used in the Black-Scholes option pricing model are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2012 |
|
2011 |
|
2010 |
Volatility factor |
|
46.5 |
% |
|
46.5 |
% |
|
46.5 |
% |
Risk-free interest rate |
|
0.91 |
% |
|
2.33 |
% |
|
2.39 |
% |
Expected term |
|
5.0 |
|
|
5.0 |
|
|
5.0 |
|
Dividend yield |
|
1.4 |
% |
|
0.0 |
% |
|
0.0 |
% |
|
| Summary Of Information About Stock Options And SARs Outstanding And Exercisable |
The following table summarizes the information about stock options and SARs outstanding and exercisable as of December 31, 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding |
|
Exercisable |
|
|
Number
Outstanding at
December 31,
2012
|
|
Weighted
Average
Exercise Price
|
|
Weighted
Average
Remaining
Contractual
Term in Years
|
|
Number
Exercisable at
December 31,
2012
|
|
Weighted
Average
Exercise Price
|
$0.00 to $9.99 |
|
177,102 |
|
|
$ |
5.51 |
|
|
5.8 |
|
177,102 |
|
|
$ |
5.51 |
|
$10.00 to $19.99 |
|
556,708 |
|
|
16.95 |
|
|
5.3 |
|
513,927 |
|
|
16.70 |
|
$20.00 to $29.99 |
|
685,488 |
|
|
24.91 |
|
|
7.4 |
|
350,388 |
|
|
23.29 |
|
$30.00 to $39.99 |
|
986,840 |
|
|
34.94 |
|
|
6.0 |
|
629,425 |
|
|
34.51 |
|
$40.00 to $44.99 |
|
370,555 |
|
|
44.71 |
|
|
5.6 |
|
370,555 |
|
|
44.71 |
|
|
|
2,776,693 |
|
|
|
|
|
|
2,041,397 |
|
|
|
|
| Weighted Average Assumptions Used In Valuation Of ESPP Options |
The following are the weighted average assumptions used in the valuation of the ESPP options for the years ended December 31, 2012 and 2011:
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2012 |
|
2011 |
Volatility factor |
|
41.7 |
% |
|
56.6 |
% |
Risk-free interest rate |
|
0.09 |
% |
|
0.15 |
% |
Expected term |
|
0.5 |
|
|
0.5 |
|
Dividend yield |
|
1.3 |
% |
|
0.0 |
% |
|