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Equity-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2011

Employee Equity-Based Compensation Expense

Employee equity-based compensation expense was recognized as follows:

		Year Ended
(In thousands)		2011				2010				2009
Restricted stock units		$	1,212			$	1,544			$	2,218
Performance shares			5,446				3,275				794
Total employee equity-based compensation		$	6,658			$	4,819			$	3,012
Related tax benefit		$	2,290			$	1,582			$	1,018

Summary of Status of Outstanding RSU Awards

A summary of the status of outstanding unvested RSU awards as of December 31, 2011, 2010 and 2009, and changes during those years, is presented below:

		2011										2010										2009
		Shares				Weighted Average Grant Date Fair Value						Shares				Weighted Average Grant Date Fair Value						Shares				Weighted Average Grant Date Fair Value
Unvested shares outstanding at
January 1			437,272			$	6.96						849,512			$	7.04						564,938			$	8.63
Granted			23,138				38.42						32,428				24.23						428,722				4.95
Vested			(286,486	)			6.88						(425,556	)			8.42						(36,694	)			7.52
Forfeited			(4,580	)			8.64						(19,112	)			7.14						(107,454	)			6.93
Unvested shares outstanding at December 31			169,344				11.33						437,272				6.96						849,512				7.04
Aggregate intrinsic value (in thousands)						$	6,030									$	17,119									$	23,349

Assumption Used in Monte Carlo Model to Estimate Fair Value of Performance Shares Awards

The fair value of performance share awards is estimated using a Monte Carlo simulation model. For performance shares granted in 2011, the following assumptions were used in our Monte Carlo model:

Closing price of stock on date of grant		$	38.46
Risk free rate			1.16%
Measurement period			3 years
Volatility			81%

Summary of Status of Outstanding Performance Share Awards

A summary of the status of outstanding performance share awards as of December 31, 2011, 2010 and 2009, and changes during those years, is presented below:

		2011										2010										2009
		Shares				Weighted Average Grant Date Fair Value						Shares				Weighted Average Grant Date Fair Value						Shares				Weighted Average Grant Date Fair Value
Outstanding at
January 1			638,870			$	13.00						524,588			$	5.64						—			$	—
Granted			110,668				57.18						141,522				39.36						562,182				5.59
Forfeited			—				—						(27,240	)			8.14						(37,594	)			4.94
Outstanding at
December 31			749,538				19.52						638,870				13.00						524,588				5.64
Aggregate intrinsic value (in thousands)						$	26,691									$	25,012									$	14,418

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- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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