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Stock-based Compensation (Tables)
 6 Months Ended
Jun. 30, 2012
Weighted-Average Assumptions Used to Estimate Grant Date Fair Values for Stock Options Granted

Treasury yields. Weighted-average assumptions used to estimate the grant date fair values for stock options granted in the three and six month periods ended June 30, 2012 and 2011 follow:

 

     Three Months Ended
June  30,		     Six Months Ended
June  30,		  
     2012     2011     2012     2011  

Volatility

      48.86 %      45.82 %      48.85 %      45.97 % 

Expected term (in years)

      5.00        5.00        5.00        5.00   

Dividend yield

      1.22 %      0.64 %      1.21 %      0.67 % 

Risk-free interest rate

      0.88 %      2.38 %      0.88 %      2.34 % 
Stock Option Activity

Stock option activity from January 1, 2012 to June 30, 2012 follows:

 

     Underlying
Shares		     Weighted
Average
Exercise
Price		  

Outstanding at January 1, 2012

      7,081,295      $ 20.73   

Granted

      780,000      $ 16.53   

Exercised

      (13,300 )    $ 14.64   
  

 

 

    

 

 

  

Outstanding at June 30, 2012

      7,847,995      $ 20.33   
  

 

 

    

 

 

  

Exercisable at June 30, 2012

      6,548,510      $ 20.64   
  

 

 

    

 

 

  
Restricted Stock Activity

Restricted stock activity from January 1, 2012 to June 30, 2012 follows:

 

     Shares     Weighted
Average
Grant Date
Fair Value		  

Non-vested restricted stock outstanding at January 1, 2012

      1,213,799      $ 24.13   

Granted

      788,650      $ 15.60   

Vested

      (524,010 )    $ 22.16   

Forfeited

      (51,696 )    $ 21.89   
  

 

 

    

 

 

  

Non-vested restricted stock outstanding at June 30, 2012

      1,426,743      $ 20.22   
  

 

 

    

 

 

  
Restricted Stock Unit Activity

Restricted stock unit activity from January 1, 2012 to June 30, 2012 follows:

 

     Shares     Weighted
Average
Grant Date
Fair Value		  

Non-vested restricted stock units outstanding at January 1, 2012

      17,501      $ 23.47   

Granted

      9,000      $ 14.91   

Vested

      (7,830 )    $ 21.08   

Forfeited

      —        $ —     
  

 

 

    

 

 

  

Non-vested restricted stock units outstanding at June 30, 2012

      18,671      $ 20.35   
  

 

 

    

 

 

  
Stock-Settled Performance Units

The total target number of shares with respect to the Stock-Settled Performance Units is set forth below:

 

     2012
Performance
Unit Awards		      2011
Performance
Unit Awards		      2010
Performance
Unit Awards		  

Target number of shares

      192,000         144,375         178,750   
Fair value of the Stock-Settled Performance Units

using a Monte Carlo simulation model. The fair value of the Stock-Settled Performance Units is set forth below (in thousands):

 

     2012
Performance
Unit Awards		      2011
Performance
Unit Awards		      2010
Performance
Unit Awards		  

Fair value at date of grant

    $ 3,065       $ 5,569       $ 3,117   
Compensation Expense Associated with the Stock-Settled Performance Units

These fair value amounts are charged to expense on a straight-line basis over the performance period. Compensation expense associated with the Stock-Settled Performance Units is shown below (in thousands):

 

     Three Months Ended
June  30,		      Six Months Ended
June  30,		  
     2012      2011      2012      2011  

Stock-based compensation expense associated with Stock-Settled Performance Units

    $ 979       $ 724       $ 1,703       $ 983