|
Stock-Based Awards (Tables)
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12 Months Ended |
|
Dec. 31, 2013
|
| Share-based Compensation [Abstract] |
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| Stock-Based Compensation Expense |
Stock-based compensation expense is included in the following line items in the accompanying consolidated statements of operations (in thousands):
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|
Year Ended December 31, |
2013 |
|
2012 |
|
2011 |
Selling and marketing |
|
$ |
3,793 |
|
|
$ |
3,515 |
|
|
$ |
4,722 |
|
General and administrative |
|
10,250 |
|
|
15,541 |
|
|
21,679 |
|
Stock-based compensation expense before income taxes |
|
14,043 |
|
|
19,056 |
|
|
26,401 |
|
Income tax benefit |
|
(4,835 |
) |
|
(6,494 |
) |
|
(8,792 |
) |
Stock-based compensation expense after income taxes |
|
$ |
9,208 |
|
|
$ |
12,562 |
|
|
$ |
17,609 |
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|
|
|
|
|
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| Summary Of Status Of Nonvested RSUs |
A summary of the status of the nonvested RSUs, as of December 31, 2013 and changes during the year ended December 31, 2013 is as follows:
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Number of
RSUs
|
|
Weighted
Average Grant
Date Fair Value
|
Nonvested at January 1, 2013 |
|
872,109 |
|
|
$ |
28.02 |
|
Granted |
|
495,881 |
|
|
58.83 |
|
Vested |
|
(634,512 |
) |
|
38.23 |
|
Forfeited |
|
(109,769 |
) |
|
38.56 |
|
Nonvested at December 31, 2013 |
|
623,709 |
|
|
40.25 |
|
|
| 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, 2013 is as follows:
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|
Number of
options
|
|
Weighted
Average
Exercise Price
|
|
Weighted
Average
Remaining
Contractual
Term (in years)
|
|
Aggregate
Intrinsic Value
|
Outstanding at January 1, 2013 |
|
2,776,693 |
|
|
$ |
28.28 |
|
|
|
|
|
Granted |
|
346,301 |
|
|
59.18 |
|
|
|
|
|
Exercised |
|
(474,855 |
) |
|
16.07 |
|
|
|
|
|
Forfeited |
|
(58,936 |
) |
|
53.73 |
|
|
|
|
|
Expired |
|
(8,314 |
) |
|
10.74 |
|
|
|
|
|
Outstanding at December 31, 2013 (1) |
|
2,580,889 |
|
|
34.15 |
|
|
5.7 |
|
$ |
72,660,432 |
|
Vested and expected to vest at December 31, 2013 |
|
2,518,015 |
|
|
33.73 |
|
|
5.7 |
|
$ |
71,932,319 |
|
Exercisable at December 31, 2013 |
|
1,944,153 |
|
|
30.35 |
|
|
4.9 |
|
$ |
62,119,059 |
|
|
|
(1) |
Approximately 0.3 million stock options outstanding as of December 31, 2013 were held by employees of the other Spincos.
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|
| 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:
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Year Ended December 31, |
|
|
2013 |
|
2012 |
|
2011 |
Volatility factor |
|
49.1 |
% |
|
46.5 |
% |
|
46.5 |
% |
Risk-free interest rate |
|
0.85 |
% |
|
0.91 |
% |
|
2.33 |
% |
Expected term |
|
4.8 |
|
|
5.0 |
|
|
5.0 |
|
Dividend yield |
|
1.2 |
% |
|
1.4 |
% |
|
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, 2013:
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Outstanding |
|
Exercisable |
|
|
Number
Outstanding at
December 31,
2013
|
|
Weighted
Average
Exercise Price
|
|
Weighted
Average
Remaining
Contractual
Term in Years
|
|
Number
Exercisable at
December 31,
2013
|
|
Weighted
Average
Exercise Price
|
$0.00 to $9.99 |
|
116,787 |
|
|
$ |
5.50 |
|
|
4.7 |
|
116,787 |
|
|
$ |
5.50 |
|
$10.00 to $19.99 |
|
161,745 |
|
|
17.60 |
|
|
4.5 |
|
161,745 |
|
|
17.60 |
|
$20.00 to $29.99 |
|
658,778 |
|
|
24.80 |
|
|
6.5 |
|
551,814 |
|
|
23.84 |
|
$30.00 to $39.99 |
|
973,046 |
|
|
34.93 |
|
|
5.0 |
|
743,252 |
|
|
34.69 |
|
$40.00 to $49.99 |
|
370,555 |
|
|
44.71 |
|
|
4.6 |
|
370,555 |
|
|
44.71 |
|
$50.00 to $59.99 |
|
299,978 |
|
|
59.16 |
|
|
9.1 |
|
— |
|
|
— |
|
|
|
2,580,889 |
|
|
|
|
|
|
1,944,153 |
|
|
|
|
| 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, 2013 and 2012:
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Year Ended December 31, |
|
|
2013 |
|
2012 |
Volatility factor |
|
23.3 |
% |
|
41.7 |
% |
Risk-free interest rate |
|
0.10 |
% |
|
0.09 |
% |
Expected term |
|
0.5 |
|
|
0.5 |
|
Dividend yield |
|
1.3 |
% |
|
1.3 |
% |
|