Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Awards (Tables)

v2.4.0.8
Stock-Based Awards (Tables)
 9 Months Ended
Sep. 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 September 30,
 
Nine Months Ended September 30,
2013
 
2012
2013
 
2012
Selling and marketing
$
818

 
$
932

 
$
2,674

 
$
2,744

General and administrative
2,206

 
3,696

 
7,605

 
12,534

Stock-based compensation expense before income taxes
3,024

 
4,628

 
10,279

 
15,278

Income tax benefit
(1,108
)
 
(1,574
)
 
(3,697
)
 
(5,220
)
Stock-based compensation expense after income taxes
$
1,916

 
$
3,054

 
$
6,582

 
$
10,058

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

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


$22.57
Restricted stock units
200,940


$58.31
Market stock units
100,723

 
$82.67
Employee stock purchase plan options
43,521


$11.75
Weighted Average Assumptions Used In Black-Scholes Option Pricing Model
The weighted average assumptions used in each valuation model for the nine months ended September 30, 2013 are as follows: 
 
 
Nine Months Ended September 30, 2013
 
 
Monte Carlo
 
Black-Scholes
 
 
Market Stock Units
 
Stock Appreciation Rights
 
Employee Stock Purchase Plan Options
Volatility factor
 
39.7
%
 
49.1
%
 
23.4
%
Risk-free interest rate
 
1.00
%
 
0.85
%
 
0.10
%
Expected term
 
4.0

 
4.8

 
0.5

Dividend yield
 
1.1
%
 
1.2
%
 
1.3
%