XML 44 R13.htm IDEA: XBRL DOCUMENT
v2.4.0.6

STOCK-BASED COMPENSATION | 9 Months Ended
--- | ---
Sep. 28, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK-BASED COMPENSATION |
NOTE 8: | STOCK-BASED COMPENSATION
Stock-based compensation includes expense charges for all stock-based awards to employees and directors. Such awards include restricted and unrestricted stock awards, performance share units, stock options, and shares purchased under an employee stock purchase plan (“ESPP”). Stock-based compensation expense was as follows (in millions):
| Thirteen weeks ended |  | Thirty-nine weeks ended
| September 28, 2012 |  | September 30, 2011 |  | September 28, 2012 |  | September 30, 2011
Restricted and unrestricted stock and performance share units expense | $ | 1.4 |  |  | $ | 1.3 |  |  | $ | 6.0 |  |  | $ | 5.1 |
Stock option expense | — |  |  | 0.1 |  |  | 0.1 |  |  | 0.3 |
ESPP expense | 0.1 |  |  | 0.1 |  |  | 0.2 |  |  | 0.2 |
Total stock-based compensation expense | $ | 1.5 |  |  | $ | 1.5 |  |  | $ | 6.3 |  |  | $ | 5.6 |
Restricted and unrestricted stock and performance share units Stock-based awards are issued under our 2005 Amended Long-Term Equity Incentive Plan. Restricted stock is granted to executive officers and key employees and vests annually over periods ranging from three to four years. Unrestricted stock granted to our directors vests immediately. Restricted and unrestricted stock-based compensation expense is calculated based on the grant-date market value. We recognize compensation expense on a straight-line basis over the vesting period, net of estimated forfeitures. Performance share units have been granted to executive officers and certain key employees since 2010. Vesting of the performance share units is contingent upon the achievement of revenue and profitability growth goals at the end of each three year performance period. Each performance share unit is equivalent to a share of common stock. Compensation expense is calculated based on the grant-date market value of our stock and is recognized ratably over the performance period for the performance share units which are expected to vest. Our estimate of the performance units expected to vest is reviewed and adjusted as appropriate each quarter. Restricted, unrestricted stock and performance share units activity was as follows (shares in thousands):
| Thirty-nine weeks ended
| September 28, 2012
| Shares |  | Price (1)
Non-vested at beginning of period | 1,266 |  |  | $ | 13.92 |
Granted | 614 |  |  | $ | 16.84 |
Vested | (362 | ) |  | $ | 13.81 |
Forfeited | (98 | ) |  | $ | 13.80 |
Non-vested at the end of the period | 1,420 |  |  | $ | 15.21 |
_____________________
(1) | Weighted average market price on grant-date.
As of September 28, 2012, total unrecognized stock-based compensation expense related to non-vested restricted stock was approximately $7.5 million, of which $6.7 million is estimated to be recognized over a weighted average period of 1.6 years through 2016. As of September 28, 2012, total unrecognized stock-based compensation expense related to performance share units, assuming achievement of maximum financial goals was approximately $7.6 million, of which $3.4 million is currently estimated to be recognized over a weighted average period of 2.1 years through 2014. Stock options Our 2005 Amended Long-Term Equity Incentive Plan provides for both nonqualified stock options and incentive stock options (collectively, “stock options”) for directors, officers, and certain employees. We issue new shares of common stock upon exercise of stock options. The majority of our unvested stock options “cliff vest” in three years from the date of grant and expire if not exercised within seven years from the date of grant. The maximum contractual term for our outstanding awards is ten years. The fair value of each stock option granted is estimated on the grant date using the Black-Scholes valuation model, and the resulting expense is recognized over the requisite service period for each separately vesting portion of the award. The assumptions used to calculate the fair value of options granted reflect market conditions and our experience. Compensation expense is recognized only for those options expected to vest, with forfeitures estimated based on our historical experience and future expectations. There were no stock options granted during 2011 or during the thirty-nine weeks ended September 28, 2012. Stock option activity was as follows (shares in thousands):
| Thirty-nine weeks ended
| September 28, 2012
| Shares |  | Price (1)
Outstanding, December 31, 2011 | 1,110 |  |  | $ | 15.64 |
Granted | — |  |  | $ | — |
Exercised | (255 | ) |  | $ | 9.71 |
Expired/Forfeited | (153 | ) |  | $ | 18.04 |
Outstanding, September 28, 2012 | 702 |  |  | $ | 17.28 |
Exercisable, September 28, 2012 | 697 |  |  | $ | 17.33 |
Options expected to vest, September 28, 2012 | 5 |  |  | $ | 9.08 |
____________________
(1) | Weighted average exercise price.
Total unrecognized stock-based compensation expense related to non-vested stock options was de minimis as of September 28, 2012. Employee stock purchase plan Our Employee Stock Purchase Plan (“ESPP”) allows eligible employees to contribute up to 10% of their earnings toward the monthly purchase of the Company's common stock. The employee's purchase price is the lesser of 85% of the fair market value of shares on either the first day or the last day of each month. Under our ESPP we have reserved for purchase 1.0 million shares of common stock. We consider our ESPP to be a component of our stock-based compensation and accordingly we recognize compensation expense over the requisite service period for stock purchases made under the plan. The requisite service period begins on the enrollment date and ends on the purchase date, the duration of which is one month. During the thirty-nine weeks ended September 28, 2012 and September 30, 2011, participants purchased 68,000 and 57,000 shares from the plan for cash proceeds of $0.9 million and $0.7 million, respectively.

X
- Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 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 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: 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 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: 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 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration