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Stock Options (Tables)
3 Months Ended
Mar. 31, 2014
Fair Value Assumptions on Stock Options

The fair value of stock option awards was estimated using the Black-Scholes option pricing model with the following assumptions and weighted-average fair values:

 

     Three Months Ended March 31,  
     2014     2013  

Weighted-average fair value of grant

   $ 11.28      $ 8.86   

Risk-free interest rate

     1.04     .54

Expected volatility

     45.65     50.19

Expected life of options in years

     3.71        3.69   

Expected dividend yield

     —          —     
Summary of Stock Option Activity

A summary of stock option activity for the three months ended March 31, 2014 follows (shares in thousands):

 

Options

   Shares     Weighted-
Average
Exercise
Price
     Weighted-
Average
Remaining
Contractual
Term (years)
     Aggregate
Intrinsic
Value
($ in millions)
 

Outstanding at December 31, 2013

     2,698      $ 32.74         

Granted

     745        32.30         

Exercised

     (232     13.24         

Forfeited and expired

     (132     137.32         
  

 

 

         

Outstanding at March 31, 2014

     3,079        29.65         3.10       $ 11.2   
  

 

 

         

Expected to vest at March 31, 2014

     1,446        27.24         4.22         6.0   
  

 

 

         

Exercisable at March 31, 2014

     1,579        31.88         2.03         5.1   
  

 

 

         
Summary of Restricted Stock Unit Activity

A summary of restricted stock unit activity for the three months ended March 31, 2014 follows (shares in thousands):

 

     Restricted
Stock
Units
    Weighted-
Average
Grant-Date
Fair Value
 

Outstanding at December 31, 2013

     401      $ 23.45   

Granted

     392        32.22   

Vested

     (73     27.29   

Forfeited and expired

     (181     23.88   
  

 

 

   

Outstanding at March 31, 2014

     539        29.15