XML 54 R10.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Stockholders' Equity and Equity Compensation Plans | 6 Months Ended
--- | ---
Jun. 30, 2014
Stockholders' Equity and Equity Compensation Plans | 3. STOCKHOLDERS’ EQUITY AND EQUITY COMPENSATION PLANS Stock Repurchase Program. We currently have a stock repurchase program, approved by our Board of Directors (the “Board”), authorizing us to repurchase our common stock from time-to-time as market and business conditions warrant (the “Stock Repurchase Program”). We did not repurchase any shares under our Stock Repurchase Program during the six months ended June 30, 2014. During the six months ended June 30, 2013, we repurchased 0.5 million shares of our common stock for $10.0 million (weighted-average price of $20.21 per share). As of June 30, 2014, the total remaining number of shares available for repurchase under the Stock Repurchase Program totaled 2.1 million shares. Stock Repurchases for Tax Withholdings. In addition to the above mentioned stock repurchases, during the six months ended June 30, 2014 and 2013, we repurchased and then cancelled 0.2 million shares of common stock for $6.6 million and 0.2 million shares of common stock for $4.9 million, respectively, in connection with minimum tax withholding requirements resulting from the vesting of restricted common stock under our stock incentive plans. Dividends. In June 2013, the Board approved the initiation of a quarterly cash dividend to be paid to our stockholders. During the second quarter of 2014, the Board approved a quarterly cash dividend of $0.1575 per share of common stock, totaling $5.4 million. During the second quarter of 2013, the Board approved a quarterly cash dividend of $0.15 per share of common stock, totaling $5.1 million. Dividends for the six months ended June 30, 2014 and 2013, totaled $10.5 million and $5.1 million, respectively. Stock Incentive Plan. In May 2014, our stockholders approved an increase of 2.9 million shares authorized for issuance under the 2005 Stock Incentive Plan, from 15.8 million shares to 18.7 million shares. Stock-Based Awards. A summary of our unvested restricted common stock activity during the second quarter and six months ended June 30, 2014 is as follows (shares in thousands):
| Quarter Ended June 30, 2014 |  | Six Months Ended June 30, 2014
| Shares |  |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted- Average Grant Date Fair Value |
Unvested awards, beginning |  | 1,848 |  |  | $ | 21.21 |  |  | 1,922 |  |  | $ | 18.57 |
Awards granted |  | 18 |  |  |  | 25.09 |  |  | 650 |  |  |  | 26.28 |
Awards forfeited/cancelled |  | (21 | ) |  |  | 20.12 |  |  | (51 | ) |  |  | 20.32 |
Awards vested |  | (13 | ) |  |  | 21.03 |  |  | (689 | ) |  |  | 18.52 |
Unvested awards, ending |  | 1,832 |  |  | $ | 21.27 |  |  | 1,832 |  |  | $ | 21.27 |
Included in the awards granted during the six months ended June 30, 2014, are performance-based awards for 0.1 million restricted common stock shares issued to members of executive management, which vest in equal installments over three years upon meeting either pre-established financial performance objectives or pre-established stock price objectives. The performance-based awards become fully vested upon a change in control, as defined, and the subsequent involuntary termination of employment. All other restricted common stock shares granted during the quarter and six months ended June 30, 2014 are time-based awards, which vest annually over four years with no restrictions other than the passage of time. Certain shares of the restricted common stock become fully vested upon a change in control, as defined, and the subsequent involuntary termination of employment. We recorded stock-based compensation expense for the second quarters of 2014 and 2013 of $3.9 million and $3.9 million, respectively, and for the six months ended June 30, 2014 and 2013 of $7.7 million $7.5 million, respectively.

X
- Definition The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details. + References No definition available. + Details
Name: | us-gaap_ShareholdersEquityAndShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration