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SHARE-BASED COMPENSATION | 12 Months Ended
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Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
SHARE-BASED COMPENSATION | SHARE‑BASED COMPENSATION Stock Awards As of December 31, 2013, the Company had outstanding stock options granted under the 2000 Non‑Qualified Stock Option Plan and the 2002 Stock Option Plan and outstanding restricted stock units granted under the 2005 Ownership Incentive Plan (“the 2005 Plan”). The 2005 Plan superseded the Company’s 2000 Non‑Qualified Stock Option Plan and 2002 Stock Option Plan with respect to future awards and, as amended, provides for the granting of 2.2 million shares, which may be awarded as incentive and nonqualified stock options, Stock Appreciation Rights (“SARs”), restricted stock, or restricted stock units. Any outstanding stock options under the 2000 or 2002 stock option plans which are forfeited or otherwise unexercised will be included in the shares available for grant under the 2005 Plan. As of December 31, 2013, the Company had not elected to treat any exercised options as employer SARs and no employee SARs had been granted. No stock options have been granted since 2004. Restricted Stock Awards A summary of the Company’s restricted stock award program is presented below:
| Units
Outstanding – January 1, 2013 | 1,281,480 |
Granted | 313,550 |
Vested | (149,620 | )
Forfeited | (1,950 | )
Outstanding – December 31, 2013 | 1,443,460 |
The Compensation Committee of the Company’s Board of Directors granted restricted stock units under the 2005 Plan during the years ended December 31, 2013, 2012, and 2011 as follows:
| Units |  | Weighted‑Average Grant Date Fair Value
2013 | 313,550 |  | $27.71
2012 | 394,900 |  | $14.55
2011 | 334,700 |  | $22.49
The fair value of restricted stock awards that vested in 2013, 2012, and 2011 was $1.8 million, $4.3 million, and $3.9 million, respectively. Unrecognized compensation cost related to restricted stock awards outstanding as of December 31, 2013 was $15.4 million, which is expected to be recognized over a weighted‑average period of three years. Stock Options A summary of the Company’s stock option program is presented below:
| Shares Under Option(1) |  | Weighted‑ Average Exercise Price |  | Weighted‑ Average Remaining Contractual Term (in years) |  | Intrinsic Value(2) (in thousands)
Outstanding – January 1, 2013 | 240,425 |  |  | $ | 27.40 |  |  |  |  |  |
Granted | — |  |  |  |  |  |  |  |  |
Exercised | (99,195 | ) |  | 29.10 |  |  |  |  |  |
Forfeited | (105,500 | ) |  | 25.23 |  |  |  |  |  |
Outstanding – December 31, 2013(1) | 35,730 |  |  | $ | 29.10 |  |  | 0.1 |  | 164 |
(1) | Options outstanding are vested and available to be exercised. All options outstanding at December 31, 2013 were exercised or forfeited as of January 31, 2014.
(2) | The intrinsic value for each option represents the excess, if any, of the market value of the Company’s Common Stock on December 31, 2013 over the exercise price of the option.
The following table summarizes additional activity related to the Company’s stock option program for the years ended December 31:
| 2013 |  | 2012 |  | 2011
|  |  | (in thousands) |  |
Intrinsic value of options exercised | $ | 330 |  |  | $ | — |  |  | $ | 79 |
Cash proceeds of options exercised | $ | 2,785 |  |  | $ | — |  |  | $ | 763 |
Tax benefit of options exercised | $ | 109 |  |  | $ | — |  |  | $ | 30 |

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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