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Stock-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2013
Allocation of Stock-Based Compensation by Functional Category | Stock-based compensation represents amortization of restricted stock, restricted stock units and SARs expense. The following table details the amount of stock-based compensation that is allocated to functional expense categories (in thousands):
| 2013 |  |  | 2012 |  |  | 2011 |
Operating expense | $ | 2,755 |  |  | $ | 2,415 |  |  | $ | 1,987 |
Brokered natural gas and marketing expense |  | 1,852 |  |  |  | 1,765 |  |  |  | 1,455 |
Exploration expense |  | 4,025 |  |  |  | 4,049 |  |  |  | 4,108 |
General and administrative expense |  | 55,737 |  |  |  | 44,541 |  |  |  | 36,244 |
Total | $ | 64,369 |  |  | $ | 52,770 |  |  | $ | 43,794 |
Stock Option and SARs Activities | We have two active equity-based stock plans, the 2005 Plan and the Director Plan. Under these plans, incentive and non-qualified stock options, stock appreciation rights, restricted stock units and various other awards may be issued to directors and employees pursuant to decisions of the compensation committee, which is made up of non-employee, independent directors from the board of directors. All awards granted under these plans have been issued at prevailing market prices at the time of the grant. Of the 2.6 million grants outstanding at December 31, 2013, all grants relate to SARs. Information with respect to stock option and SARs activities is summarized below.
| Shares |  |  | Weighted Average Exercise Price |
Outstanding at December 31, 2010 |  | 6,461,839 |  |  | $ | 37.20 |
Granted |  | 843,485 |  |  |  | 51.17 |
Exercised |  | (2,511,989 | ) |  |  | 32.69 |
Expired/forfeited |  | (234,726 | ) |  |  | 52.65 |
Outstanding at December 31, 2011 |  | 4,558,609 |  |  |  | 41.47 |
Granted |  | 754,471 |  |  |  | 64.14 |
Exercised |  | (1,860,367 | ) |  |  | 30.20 |
Expired/forfeited |  | (19,351 | ) |  |  | 48.00 |
Outstanding at December 31, 2012 |  | 3,433,362 |  |  |  | 52.52 |
Granted |  | 470,617 |  |  |  | 75.82 |
Exercised |  | (1,269,323 | ) |  |  | 53.24 |
Expired/forfeited |  | (52,582 | ) |  |  | 53.56 |
Outstanding at December 31, 2013 |  | 2,582,074 |  |  | $ | 56.36 |
Outstanding Stock Options and SARs | The following table shows information with respect to stock options and SARs outstanding and exercisable at December 31, 2013:
|  | Outstanding |  |  | Exercisable |
Range of Exercise Prices |  | Shares |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Weighted Average Exercise Price |  |  | Shares |  |  | Weighted Average Exercise Price |
$ 31.13–$ 39.99 |  |  | 44,980 |  |  |  | 0.24 |  |  | $ | 34.48 |  |  |  | 44,980 |  |  | $ | 34.48 |
40.00–49.99 |  |  | 1,007,979 |  |  |  | 1.10 |  |  |  | 44.82 |  |  |  | 917,558 |  |  |  | 44.39 |
50.00–59.99 |  |  | 404,799 |  |  |  | 2.38 |  |  |  | 52.35 |  |  |  | 227,838 |  |  |  | 52.35 |
60.00–69.99 |  |  | 657,040 |  |  |  | 3.34 |  |  |  | 64.17 |  |  |  | 208,043 |  |  |  | 64.22 |
70.00–79.99 |  |  | 466,480 |  |  |  | 4.33 |  |  |  | 75.85 |  |  |  | 22,141 |  |  |  | 77.26 |
80.00–80.34 |  |  | 796 |  |  |  | 4.25 |  |  |  | 80.34 |  |  |  | 796 |  |  |  | 80.34 |
Total |  |  | 2,582,074 |  |  |  | 2.44 |  |  | $ | 56.36 |  |  |  | 1,421,356 |  |  | $ | 48.79 |
Weighted Average Grant Date Fair Value of SARs | During 2013, 2012 and 2011, we granted SARs to officers, non-officer employees and directors. The weighted average grant date fair value of these SARs, based on our Black-Scholes-Merton assumptions, is shown below:
| 2013 |  |  | 2012 |  |  | 2011 |
Weighted average exercise price per share | $ | 75.82 |  |  | $ | 64.14 |  |  | $ | 51.17 |
Expected annual dividends per share |  | 0.21 | % |  |  | 0.25 | % |  |  | 0.31 | %
Expected life in years |  | 3.7 |  |  |  | 3.7 |  |  |  | 3.7 |
Expected volatility |  | 35 | % |  |  | 45 | % |  |  | 47 | %
Risk-free interest rate |  | 0.6 | % |  |  | 0.5 | % |  |  | 1.4 | %
Weighted average grant date fair value | $ | 20.20 |  |  | $ | 21.32 |  |  | $ | 18.22 |
Restricted Stock and Restricted Stock Units Outstanding | A summary of the status of our non-vested restricted stock outstanding at December 31, 2013 is summarized below:
| Equity Awards |  |  | Liability Awards |
| Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Shares |  |  | Weighted Average Grant Date Fair Value |
Outstanding at December 31, 2010 |  | — |  |  | $ | — |  |  |  | 582,751 |  |  | $ | 44.81 |
Granted |  | 331,209 |  |  |  | 49.56 |  |  |  | 352,419 |  |  |  | 51.17 |
Vested |  | (88,854 | ) |  |  | 49.37 |  |  |  | (418,634 | ) |  |  | 45.55 |
Forfeited |  | (20,746 | ) |  |  | 49.45 |  |  |  | (29,292 | ) |  |  | 45.04 |
Outstanding at December 31, 2011 |  | 221,609 |  |  |  | 49.64 |  |  |  | 487,244 |  |  |  | 48.76 |
Granted |  | 364,082 |  |  |  | 63.44 |  |  |  | 380,808 |  |  |  | 64.06 |
Vested |  | (208,802 | ) |  |  | 56.73 |  |  |  | (438,283 | ) |  |  | 52.17 |
Forfeited |  | (27,733 | ) |  |  | 58.65 |  |  |  | (6,291 | ) |  |  | 54.54 |
Outstanding at December 31, 2012 |  | 349,156 |  |  |  | 59.08 |  |  |  | 423,478 |  |  |  | 58.91 |
Granted |  | 402,053 |  |  |  | 71.26 |  |  |  | 424,809 |  |  |  | 75.53 |
Vested |  | (315,535 | ) |  |  | 62.43 |  |  |  | (437,570 | ) |  |  | 64.36 |
Forfeited |  | (50,611 | ) |  |  | 65.29 |  |  |  | (21,704 | ) |  |  | 57.31 |
Outstanding at December 31, 2013 |  | 385,063 |  |  | $ | 68.24 |  |  |  | 389,013 |  |  | $ | 71.02 |

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