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STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2014
STOCK-BASED COMPENSATION  
Schedule of weighted-average assumptions used to estimate the fair value of options granted

 

 

 

 

Three-Months Ended September 30,

 

Nine-Months Ended September 30,

 

 

2014¹

 

2013¹

 

2014

 

2013

Dividend yield

 

-

 

-

 

0.0 %

 

0.0 %

Expected volatility

 

-

 

-

 

42.4 %

 

47.9 %

Risk-free interest rate

 

-

 

-

 

1.6 %

 

0.9 %

Expected term

 

-

 

-

 

5.8 Years

 

5.7 Years

 

1 No options were granted during the three-months ended September 30, 2014 and 2013.

Summary of activities with respect to its stock option plans

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Weighted-

 

Average

 

 

 

 

 

 

Average

 

Remaining

 

 

 

 

Number of

 

Exercise

 

Contractual

 

 

Options

 

Shares (In
thousands)

 

Price Per
Share

 

Term (In
years)

 

Aggregate
Intrinsic Value

Outstanding at January 1, 2014

 

12,973

 

  $

15.70

 

3.7

 

  $

675,595

Granted 01/01/14 - 03/31/14

 

689

 

  $

70.06

 

 

 

 

Granted 04/01/14 - 06/30/14

 

104

 

  $

69.15

 

 

 

 

Granted 07/01/14 - 09/30/14

 

-

 

  $

-    

 

 

 

 

Exercised

 

(686)

 

  $

21.95

 

 

 

 

Cancelled or forfeited

 

(106)

 

  $

45.32

 

 

 

 

Outstanding at September 30, 2014

 

12,974

 

  $

18.44

 

3.3

 

  $

950,080

Vested and expected to vest in the future at September 30, 2014

 

12,574

 

  $

17.22

 

3.0

 

  $

936,106

Exercisable at September 30, 2014

 

10,215

 

  $

9.90

 

2.0

 

  $

835,288

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, 2014

 

391

 

 $

49.27

Granted 01/01/14 - 03/31/14

 

-

 

 $

-    

Granted 04/01/14 - 06/30/14

 

10

 

 $

69.00

Granted 07/01/14 - 09/30/14

 

-

 

 $

-    

Vested

 

(237)

 

 $

44.11

Forfeited/cancelled

 

(13)

 

 $

51.15

Non-vested at September 30, 2014

 

151

 

 $

58.56