|
Share-Based Compensation and Employee Benefit Plans (Tables)
|
12 Months Ended |
|
Dec. 31, 2011
|
| Share-Based Compensation and Employee Benefit Plans. |
|
| Summary of restricted share transactions under the entity's share-based compensation plans |
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|
|
|
|
|
|
|
|
Shares |
|
Weighted
Average
Grant Date
Fair Value |
|
|
Unvested at December 31, 2008
|
|
|
562,428 |
|
$ |
35.69 |
|
|
Granted
|
|
|
340,660 |
|
|
25.30 |
|
|
Forfeited
|
|
|
(5,081 |
) |
|
29.83 |
|
|
Vested
|
|
|
(229,017 |
) |
|
35.74 |
|
| |
|
|
|
|
|
|
|
Unvested at December 31, 2009
|
|
|
668,990 |
|
|
30.43 |
|
|
Granted
|
|
|
290,956 |
|
|
37.74 |
|
|
Forfeited
|
|
|
(13,986 |
) |
|
34.38 |
|
|
Vested
|
|
|
(276,102 |
) |
|
32.24 |
|
| |
|
|
|
|
|
|
|
Unvested at December 31, 2010
|
|
|
669,858 |
|
|
32.77 |
|
|
Granted
|
|
|
320,284 |
|
|
33.68 |
|
|
Forfeited
|
|
|
(18,058 |
) |
|
34.23 |
|
|
Vested
|
|
|
(323,706 |
) |
$ |
32.86 |
|
| |
|
|
|
|
|
|
|
Unvested at December 31, 2011
|
|
|
648,378 |
|
$ |
33.13 |
|
| |
|
|
|
|
|
|
|
Restricted shares expected to vest
|
|
|
631,169 |
|
$ |
33.13 |
|
|
| Schedule of payouts for defined performance under performance-based awards of share-based compensation |
|
|
|
|
Percentile Rank
|
|
Earned PSUs Payout % |
|
75th or greater
|
|
200% of PSUs granted |
|
50th or greater
|
|
100% of PSUs granted |
|
25th
|
|
50% of PSUs granted |
|
Below 25th
|
|
0% of PSUs granted |
|
|
| Schedule of assumptions used in Monte Carlo models for PSUs |
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For the
Years Ended
December 31, |
|
|
|
2011 |
|
2010 |
|
|
Grant date fair value
|
|
$ |
49.15 |
|
$ |
53.31 |
|
|
Baseline common share value
|
|
$ |
35.17 |
|
$ |
37.84 |
|
|
Expected volatility of common shares
|
|
|
61.1 |
% |
|
62.2 |
% |
|
Risk-free interest rate
|
|
|
1.32 |
% |
|
1.38 |
% |
|
|
| Summary of stock option transactions under the entity's share-based compensation plans |
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Shares |
|
Range of
Exercise Price
per Share |
|
Weighted
Average
Exercise
Price per
Share |
|
Weighted
Average
Remaining
Contractual
Term
(in Years) |
|
Aggregate
Intrinsic
Value |
|
|
Outstanding at December 31, 2008
|
|
|
1,949,319 |
|
$7.38 - $57.00 |
|
$ |
25.96 |
|
|
5 |
|
$ |
18,744 |
|
|
Granted—2009
|
|
|
50,000 |
|
$29.98 - $37.61 |
|
$ |
31.51 |
|
|
|
|
|
|
|
|
Forfeited/Expired—2009
|
|
|
(32,812 |
) |
$25.52 - $53.16 |
|
$ |
44.33 |
|
|
|
|
|
|
|
|
Exercised—2009
|
|
|
(464,601 |
) |
$7.38 - $35.87 |
|
$ |
11.25 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Outstanding at December 31, 2009
|
|
|
1,501,906 |
|
$8.63 - $57.00 |
|
$ |
30.29 |
|
|
5 |
|
$ |
14,579 |
|
|
Forfeited/Expired—2010
|
|
|
(34,966 |
) |
$41.33 - $49.60 |
|
$ |
46.59 |
|
|
|
|
|
|
|
|
Exercised—2010
|
|
|
(278,656 |
) |
$8.63 - $42.07 |
|
$ |
16.42 |
|
|
|
|
|
|
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| |
|
|
|
|
|
|
|
|
|
|
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|
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Outstanding at December 31, 2010
|
|
|
1,188,284 |
|
$9.54 - $57.00 |
|
$ |
33.07 |
|
|
5 |
|
$ |
7,987 |
|
|
Forfeited/Expired—2011
|
|
|
(51,598 |
) |
$22.49 - $50.59 |
|
$ |
42.82 |
|
|
|
|
|
|
|
|
Exercised—2011
|
|
|
(191,264 |
) |
$9.54 - $30.25 |
|
$ |
12.82 |
|
|
|
|
|
|
|
| |
|
|
|
|
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|
|
|
|
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Outstanding at December 31, 2011
|
|
|
945,422 |
|
$13.40 - $57.00 |
|
$ |
36.63 |
|
|
4 |
|
$ |
510 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercisable at December 31, 2009
|
|
|
1,389,141 |
|
(1) |
|
$ |
29.42 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
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|
|
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Exercisable at December 31, 2010
|
|
|
1,188,284 |
|
(2) |
|
$ |
33.07 |
|
|
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| |
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Exercisable at December 31, 2011
|
|
|
945,422 |
|
(3) |
|
$ |
36.63 |
|
|
|
|
|
|
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| |
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-
(1)
- 83,441 of these options had an exercise price ranging from $8.63 to $10.99; 345,792 had an exercise price ranging from $11.00 to $16.99; 172,914 had an exercise price ranging from $17.00 to $25.99; 190,287 had an exercise price ranging from $26.00 to $34.99; 343,040 had an exercise price ranging from $35.00 to $43.99; and 253,667 had an exercise price ranging from $44.00 to $57.00.
-
(2)
- 231,946 of these options had an exercise price ranging from $9.54 to $16.73; 246,103 had an exercise price ranging from $16.74 to $30.04; 205,012 had an exercise price ranging from $30.05 to $41.28; 253,607 had an exercise price ranging from $41.29 to $45.24; and 251,616 had an exercise price ranging from $45.25 to $57.
-
(3)
- 53,957 of these options had an exercise price ranging from $13.40 to $16.73; 225,903 had an exercise price ranging from $16.74 to $30.04; 198,762 had an exercise price ranging from $30.05 to $41.28; and 466,800 had an exercise price ranging from $41.29 to $57.00.
|
|
| Schedule of weighed average assumptions computing grant date fair values for stock options |
|
|
|
|
|
|
|
Weighted average fair value of grants on grant date
|
|
$ |
10.15 |
|
|
Risk-free interest rate(1)
|
|
|
2.20 |
% |
|
Expected life-years
|
|
|
5.32 |
|
|
Expected volatility(2)
|
|
|
47.71 |
% |
|
Expected dividend yield(3)
|
|
|
3.77 |
% |
-
(1)
- Ranged from 2.08% to 2.70%.
-
(2)
- Ranged from 47.60% to 48.17%.
-
(3)
- Ranged from 3.73% to 3.93%.
|
|
| Reporting for share-based compensation expense |
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For the Years Ended December 31, |
|
|
|
2011 |
|
2010 |
|
2009 |
|
|
General and administrative expenses
|
|
$ |
9,077 |
|
$ |
7,511 |
|
$ |
5,964 |
|
|
Property operating expenses
|
|
|
2,843 |
|
|
2,543 |
|
|
3,172 |
|
|
Capitalized to development activities
|
|
|
2,347 |
|
|
1,791 |
|
|
1,466 |
|
| |
|
|
|
|
|
|
|
|
Share-based compensation expense
|
|
$ |
14,267 |
|
$ |
11,845 |
|
$ |
10,602 |
|
|