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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2013
STOCK-BASED COMPENSATION  
Schedule of weighted-average assumptions used to estimate the fair value of options granted

 

 

 

 

2013

 

2012

 

2011

Dividend yield

 

0.0 %

 

0.0 %

 

0.0 %

Expected volatility

 

47.5 %

 

48.1 %

 

53.6 %

Risk free interest rate

 

0.98 %

 

0.74 %

 

1.5 %

Expected term

 

5.7 Years

 

5.4 Years

 

5.8 Years

Summary of activities with respect to its stock option plans

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Weighted-

 

Average

 

 

 

 

 

 

 

Average

 

Remaining

 

 

 

 

 

Number of

 

Exercise

 

Contractual

 

 

 

 

 

Shares (In

 

Price Per

 

Term (In

 

Aggregate

 

Options

 

Thousands)

 

Share

 

Years)

 

Intrinsic Value

 

Outstanding at January 1, 2013

 

14,000

 

 $

12.12

 

4.1

 

$

572,530

 

Granted 01/01/13 - 03/31/13

 

636

 

 $

47.36

 

 

 

 

 

Granted 04/01/13 - 06/30/13

 

450

 

 $

54.00

 

 

 

 

 

Granted 07/01/13 - 09/30/13

 

-

 

 $

-

 

 

 

 

 

Granted 10/01/13 - 12/31/13

 

106

 

 $

57.76

 

 

 

 

 

Exercised

 

(2,022

)

 $

10.51

 

 

 

 

 

Cancelled or forfeited

 

(197

)

 

 $

27.28

 

 

 

 

 

Outstanding at December 31, 2013

 

12,973

 

 $

15.70

 

3.7

 

$

675,595

 

Vested and expected to vest in the future at December 31, 2013

 

12,639

 

 $

14.89

 

3.6

 

$

668,379

 

Exercisable at December 31, 2013

 

10,401

 

 $

9.38

 

2.7

 

$

607,302

 

Summary of stock options outstanding and exercisable

The following table summarizes information about stock options outstanding and exercisable at December 31, 2013:

 

 

 

Options Outstanding

 

Options Exercisable

 

Range of Exercise
Prices ($)

 

Number
Outstanding (In
Thousands)

 

Weighted
Average
Remaining
Contractual
Term (Years)

 

Weighted
Average
Exercise
Price ($)

 

Number
Exercisable
(In
Thousands)

 

Weighted
Average
Exercise
Price ($)

 

$2.09    -     $2.09

 

43

 

1.0

 

$2.09

 

43

 

$2.09

 

$3.29    -     $3.29

 

4,400

 

1.2

 

$3.29

 

4,400

 

$3.29

 

$5.72    -     $6.21

 

23

 

1.8

 

$6.11

 

23

 

$6.11

 

$8.44    -     $8.44

 

2,445

 

1.9

 

$8.44

 

2,445

 

$8.44

 

$11.36    -    $15.60

 

145

 

4.8

 

$13.43

 

143

 

$13.39

 

$15.86    -    $15.86

 

1,777

 

4.4

 

$15.86

 

1,777

 

$15.86

 

$15.94    -    $17.82

 

1,381

 

5.9

 

$17.75

 

1,000

 

$17.77

 

$18.07    -    $47.13

 

1,796

 

7.3

 

$33.11

 

553

 

$24.05

 

$47.65    -    $70.54

 

956

 

9.1

 

$56.25

 

16

 

$62.65

 

$74.78    -    $74.78

 

7

 

8.5

 

$74.78

 

1

 

$74.78

 

 

 

12,973

 

3.7

 

$15.70

 

10,401

 

$9.38

Summary of activities with respect to non-vested restricted stock awards and non-vested restricted stock units

 

 

 

 

 

 

 

Weighted

 

 

 

Number of

 

 

Average

 

 

 

Shares (in

 

 

Grant-Date

 

 

 

thousands)

 

 

Fair Value

 

Non-vested at January 1, 2013

 

637

 

 

  $

46.97

 

Granted 01/01/13 - 03/31/13

 

8

 

 

  $

50.89

 

Granted 04/01/13 - 06/30/13

 

15

 

 

  $

54.64

 

Granted 07/01/13 - 09/30/13

 

-

 

 

  $

-  

 

Granted 10/01/13 - 12/31/13

 

5

 

 

  $

54.57

 

Vested

 

(262)

 

 

  $

43.87

 

Forfeited/cancelled

 

(12)

 

 

  $

54.67

 

Non-vested at December 31, 2013

 

391

 

 

  $

49.27

 

Schedule of total compensation cost relating to incentive stock option, charged against income

 

 

 

 

2013

 

2012

 

2011

 

Operating expenses

 

  $

28,764

 

  $

28,413

 

  $

19,424

 

Total employee and non-employee share-based compensation expense included in income, before income tax

 

28,764

 

28,413

 

19,424

 

Less: Amount of income tax benefit recognized in earnings

 

(7,730)

 

(8,933)

 

(6,646)

 

Amount charged against net income

 

  $

21,034

 

  $

19,480

 

  $

12,778