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Share-based Awards (Tables)
6 Months Ended
Jun. 30, 2013
Summary of Stock Option Activity
The following table summarizes option activity for the six months ended June 30, 2013:
 
   
Options
Outstanding
Number of Shares
   
Weighted
Average
Exercise
Price
   
 
Weighted
Average
Fair Value
   
Weighted
Average
Remaining
Contractual
Life
 
                         
Outstanding at December 31, 2012
    4,350,631     $ 23.01     $ 9.17        
                               
Granted
    253,650     $ 32.95     $ 12.05        
Exercised
    (524,243 )   $ 20.11     $ 8.17        
Forfeited
    (273,401 )   $ 25.47     $ 10.04        
                               
Outstanding at June 30, 2013
    3,806,637     $ 23.89     $ 9.44       4.55  
                                 
Exercisable at June 30, 2013
    2,203,758     $ 24.40     $ 8.86       3.32  
Summary of Movement in Non-Vested Share Options
The following table summarizes the movement in non-vested share options for the six months ended June 30, 2013:
 
   
Options
Outstanding
Number of Shares
   
Weighted Average Exercise Price
   
Weighted Average
Fair Value
 
                   
Non vested outstanding at December 31, 2012
    2,094,533     $ 22.43     $ 9.17  
                         
Granted
    253,650     $ 32.95     $ 12.05  
Vested
    (578,193 )   $ 24.83     $ 9.82  
Forfeited
    (167,111 )   $ 22.91     $ 9.36  
                         
Non vested outstanding at June 30, 2013
    1,602,879     $ 23.18     $ 9.36  
Weighted Average Fair Values and Assumptions Used
The weighted average fair value of options granted during the periods ended June 30, 2013 and June 30, 2012 was calculated using the Black-Scholes option pricing model.  The weighted average fair values and assumptions used were as follows:

   
Three Months Ended
 
   
June 30,
   
June 30,
 
   
2013
   
2012
 
             
Weighted average fair value
  $ 12.06     $ 9.72  
 
Assumptions:
               
Expected volatility
    41 %     50 %
Dividend yield
    0 %     0 %
Risk-free interest rate
    0.87 %     0.84 %
Expected life
 
5 years
   
5 years
 
Summary of RSU Activity
The following table summarizes RSU activity for the six months ended June 30, 2013:

   
RSU
Outstanding
Number of
Shares
   
RSU
Weighted
Average
Fair Value
   
RSU
Weighted
Average
Remaining
Contractual
Life
 
                   
Outstanding at December 31, 2012
    496,000     $ 20.26        
                       
Granted
    406,688     $ 34.42        
Shares vested
    (50,000 )   $ 22.30        
Forfeited
    -       -        
                       
Outstanding at June 30, 2013
    852,688     $ 26.89       2.25  
Non-Cash Stock Compensation Expense
Non-cash stock compensation expense for the three and six months ended June 30, 2013 has been allocated as follows:

   
Three Months Ended
   
Six Months Ended
 
   
June 30,
   
June 30,
   
June 30,
   
June 30,
 
   
2013
   
2012
   
2013
   
2012
 
   
(In thousands)
   
(In thousands)
 
Direct costs
  $ 1,693     $ 1,544     $ 3,012     $ 2,883  
Selling, general and administrative
    1,379       1,258       2,454       2,350  
Restructuring and other  items (note 4)
    -       620       -       620  
                                 
    $ 3,072     $ 3,422     $ 5,466     $ 5,853