Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Awards (Tables)

v2.4.0.8
Stock-Based Awards (Tables)
 6 Months Ended
Jun. 30, 2013
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):

 
Three Months Ended June 30,
 
Six Months Ended June 30,
2013
 
2012
2013
 
2012
Selling and marketing
$
894

 
$
630

 
$
1,856

 
$
1,812

General and administrative
2,651

 
4,020

 
5,398

 
8,838

Stock-based compensation expense before income taxes
3,545

 
4,650

 
7,254

 
10,650

Income tax benefit
(1,283
)
 
(1,488
)
 
(2,589
)
 
(3,614
)
Stock-based compensation expense after income taxes
$
2,262

 
$
3,162

 
$
4,665

 
$
7,036

 
 
 
 
 
 
 
 
Summary of Stock-Based Awards Granted
A summary of the stock-based awards granted during the six months ended June 30, 2013 is as follows:
 
Six Months Ended June 30, 2013
 
Number of Awards Granted

Weighted Average per Share Fair Value
Stock appreciation rights
346,301


$22.57
Restricted stock units
190,424


$58.52
Employee stock purchase plan options
22,232


$11.32
Weighted Average Assumptions Used In Black-Scholes Option Pricing Model
The weighted average assumptions used in the Black-Scholes option pricing model for the six months ended June 30, 2013 are as follows: 
 
 
Six Months Ended June 30, 2013
 
 
Stock Appreciation Rights
 
Employee Stock Purchase Plan Options
Volatility factor
 
49.1
%
 
19.4
%
Risk-free interest rate
 
0.85
%
 
0.12
%
Expected term
 
4.8

 
0.5

Dividend yield
 
1.2
%
 
1.3
%