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SHAREHOLDERS' EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2013
SHAREHOLDERS' EQUITY [Abstract] |
Summary of Employee Stock Option Plans activity in all plans | A summary of the Employee Stock Option Plans activity in all plans for the year ended December 31, 2013, 2012 and 2011 is as follows:
|  | For the years ended December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
|  | Employee Options |  |  | Weighted Average Exercise Price |  |  | Employee Options |  |  | Weighted Average Exercise Price |  |  | Employee Options |  |  | Weighted Average Exercise Price |
Outstanding at beginning |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
of the year |  |  | 2,259,282 |  |  | $ | 3.80 |  |  |  | 2,318,399 |  |  | $ | 3.94 |  |  |  | 3,011,647 |  |  | $ | 3.87 |
Granted |  |  | 270,000 |  |  | $ | 2.08 |  |  |  | 150,000 |  |  | $ | 2.32 |  |  |  | -- |  |  | $ | -- |
Forfeited |  |  | -- |  |  | $ | -- |  |  |  | (10,000 | ) |  | $ | 2.32 |  |  |  | -- |  |  | $ | -- |
Expired |  |  | (28,333 | ) |  | $ | 4.68 |  |  |  | (194,950 | ) |  | $ | 4.47 |  |  |  | (200,000 | ) |  | $ | 3.90 |
Exercised |  |  | -- |  |  | $ | -- |  |  |  | (4,167 | ) |  | $ | 2.52 |  |  |  | (493,248 | ) |  | $ | 3.51 |
Outstanding at year end |  |  | 2,500,949 |  |  | $ | 3.60 |  |  |  | 2,259,282 |  |  | $ | 3.80 |  |  |  | 2,318,399 |  |  | $ | 3.94 |
Exercisable at year end |  |  | 2,137,619 |  |  | $ | 3.85 |  |  |  | 2,119,282 |  |  | $ | 3.90 |  |  |  | 2,108,399 |  |  | $ | 3.84 |
Weighted average fair |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
value of options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
granted during |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
the year |  |  |  |  |  | $ | 1.20 |  |  |  |  |  |  | $ | 1.30 |  |  |  |  |  |  | $ | -- |
Summary of Information about Employee Stock Options Outstanding and Exercisable | The following table summarizes information about employee stock options outstanding and exercisable at December 31, 2013:
Grant Price Range |  |  | Employee Options Outstanding at December 31, 2013 |  |  | Weighted average remaining contractual life in years |  |  | Weighted average exercise price |  |  | Employee Options exercisable at December 31, 2013 |  |  | Weighted average exercise price |
$ | 2.08 |  |  |  | 270,000 |  |  |  | 9.50 |  |  | $ | 2.08 |  |  |  | -- |  |  | $ | -- |
$ | 2.09 - $2.32 |  |  |  | 140,000 |  |  |  | 8.53 |  |  | $ | 2.32 |  |  |  | 46,670 |  |  | $ | 2.32 |
$ | 2.33 - $2.46 |  |  |  | 386,869 |  |  |  | 0.50 |  |  | $ | 2.46 |  |  |  | 386,869 |  |  | $ | 2.46 |
$ | 2.47 - $2.52 |  |  |  | 405,312 |  |  |  | 4.73 |  |  | $ | 2.52 |  |  |  | 405,312 |  |  | $ | 2.52 |
$ | 2.53 - $3.86 |  |  |  | 273,768 |  |  |  | 1.79 |  |  | $ | 3.86 |  |  |  | 273,768 |  |  | $ | 3.86 |
$ | 3.87 - $4.97 |  |  |  | 1,025,000 |  |  |  | 3.57 |  |  | $ | 4.97 |  |  |  | 1,025,000 |  |  | $ | 4.97 |
|  |  |  |  | 2,500,949 |  |  |  | 4.00 |  |  | $ | 3.60 |  |  |  | 2,137,619 |  |  | $ | 3.85 |
Summary of Number of Options Available For Grant and Intrinsic Value of Options Outstanding | The following table sets forth the number of options available for grant as well as the intrinsic value of the options outstanding and exercisable at:
|  | At December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Available for future grant |  |  | 790,000 |  |  |  | 1,060,000 |  |  |  | -- |
Intrinsic value of options exercised |  | $ | -- |  |  | $ | 4,000 |  |  | $ | 888,000 |
Aggregate intrinsic value of options outstanding |  | $ | 1,661,000 |  |  | $ | -- |  |  | $ | 351,000 |
Aggregate intrinsic value of options exercisable |  | $ | 1,073,000 |  |  | $ | -- |  |  | $ | 351,000 |
Director Stock Award Plan Activity | Director Option Plan. As of December 31, 2013, there were 146,000 director options outstanding to purchase shares of USE's common stock. USE values these options using the Black-Scholes option pricing model and expenses that value over various terms based on the nature of the award. Activity for the years ended December 31, 2013, 2012 and 2011 for director options is presented in the following table:
|  | For the years ended December 31, |
|  | 2013 |  |  |  |  |  | 2012 |  |  |  |  |  | 2011 |  |  |  |
|  | Director Options |  |  | Weighted Average Exercise Price |  |  | Director Options |  |  | Weighted Average Exercise Price |  |  | Director Options |  |  | Weighted Average Exercise Price |
Outstanding at beginning |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
of the period |  |  | 150,000 |  |  | $ | 3.05 |  |  |  | 210,000 |  |  | $ | 3.10 |  |  |  | 320,000 |  |  | $ | 2.95 |
Granted |  |  | 36,000 |  |  | $ | 2.08 |  |  |  | 80,000 |  |  | $ | 2.78 |  |  |  | 20,000 |  |  | $ | 4.19 |
Forfeited |  |  | -- |  |  | $ | -- |  |  |  | -- |  |  | $ | -- |  |  |  | (20,000 | ) |  | $ | 2.52 |
Expired |  |  | (40,000 | ) |  | $ | 2.60 |  |  |  | (120,000 | ) |  | $ | 3.05 |  |  |  | (5,000 | ) |  | $ | 3.90 |
Exercised |  |  | -- |  |  | $ | -- |  |  |  | (20,000 | ) |  | $ | 2.52 |  |  |  | (105,000 | ) |  | $ | 2.92 |
Outstanding at period end |  |  | 146,000 |  |  | $ | 2.93 |  |  |  | 150,000 |  |  | $ | 3.05 |  |  |  | 210,000 |  |  | $ | 3.10 |
Exercisable at period end |  |  | 56,668 |  |  | $ | 3.46 |  |  |  | 63,335 |  |  | $ | 3.01 |  |  |  | 183,334 |  |  | $ | 2.91 |
Weighted average fair |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
value of options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
granted during |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
the period |  |  |  |  |  | $ | 1.20 |  |  |  |  |  |  | $ | 1.59 |  |  |  |  |  |  | $ | 2.34 |
Summary of Information About Directors Plan | The following table summarizes information about director options outstanding and exercisable at December 31, 2013:
Grant Price Range |  |  | Director Options Outstanding at December 31, 2013 |  |  | Weighted average remaining contractual life in years |  |  | Weighted average exercise price |  |  | Director Options exercisable at December 31, 2013 |  |  | Weighted average exercise price |
$ | 2.08 |  |  |  | 36,000 |  |  |  | 9.50 |  |  | $ | 2.08 |  |  |  | -- |  |  | $ | -- |
$ | 2.09 - $2.32 |  |  |  | 10,000 |  |  |  | 8.53 |  |  | $ | 2.32 |  |  |  | 3,334 |  |  | $ | 2.32 |
$ | 2.33 - $2.52 |  |  |  | 10,000 |  |  |  | 4.73 |  |  | $ | 2.52 |  |  |  | 10,000 |  |  | $ | 2.52 |
$ | 2.53 - $2.85 |  |  |  | 60,000 |  |  |  | 8.22 |  |  | $ | 2.85 |  |  |  | 20,000 |  |  | $ | 2.85 |
$ | 2.86 - $4.19 |  |  |  | 20,000 |  |  |  | 7.48 |  |  | $ | 4.19 |  |  |  | 13,334 |  |  | $ | 4.19 |
$ | 4.20 - $5.04 |  |  |  | 10,000 |  |  |  | 6.48 |  |  | $ | 5.04 |  |  |  | 10,000 |  |  | $ | 5.04 |
|  |  |  |  | 146,000 |  |  |  | 8.10 |  |  | $ | 2.93 |  |  |  | 56,668 |  |  | $ | 3.46 |
Summary of Director Options Available For Grant and Intrinsic Value of Options Outstanding | The following table sets forth the number of options available for grant as well as the intrinsic value of the options outstanding and exercisable at:
|  | At December 31, |
|  | 2013 |  |  | 2012 |  |  | 2011 |
Available for future grant |  |  | 131,359 |  |  |  | 126,526 |  |  |  | 164,099 |
Intrinsic value of options exercised |  | $ | -- |  |  | $ | 17,000 |  |  | $ | 14,000 |
Aggregate intrinsic value of options outstanding |  | $ | 142,000 |  |  | $ | -- |  |  | $ | 31,000 |
Aggregate intrinsic value of options exercisable |  | $ | 35,000 |  |  | $ | -- |  |  | $ | 31,000 |
Summary of Valuation Assumptions in Stock Option and Warrant Valuation | USE has computed the fair values of its employee and director options using the Black Scholes pricing model and the following weighted average assumptions:
| For the years ended December 31,
| 2013 | 2012 | 2011
Risk-free interest rate | 1.66% | 0.82% to 1.41% | 1.77%
Expected lives (years) | 6.0 | 5.0 to 6.0 | 6.0
Expected volatility | 62.59% | 61.87% to 63.59% | 59.64%
Expected dividend yield | -- | -- | --

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