LeapFrog 2012 Annual Report Download - page 67

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LEAPFROG ENTERPRISES, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(In thousands, except per share data)
RSUs
The activity in the Company’s RSUs for the years ended December 31, 2012, 2011 and 2010 was as follows:
Number of
Shares
Weighted-Average
Grant-Date
Fair Value
Nonvested at December 31, 2009 .................... 521 $ 8.16
Grants ...................................... 1,313 $ 6.08
Vested ...................................... (167) $ 8.06
Forfeited .................................... (136) $ 6.21
Nonvested at December 31, 2010 .................... 1,531 $ 6.54
Grants ...................................... 672* $ 4.09
Vested ...................................... (505) $ 6.45
Forfeited .................................... (514)** $ 6.01
Nonvested at December 31, 2011 .................... 1,184 $ 5.41
Grants ...................................... 933 $ 8.58
Vested ...................................... (692) $ 5.57
Forfeited .................................... (174) $ 6.61
Nonvested at December 31, 2012 .................... 1,251 $ 7.51
Vested and deferred at December 31, 2012 ............... 65 $10.78
Vested and deferred at December 31, 2011 ............... 85 $10.78
* Amount includes 150 RSUs granted to the Company’s current Chief Executive Officer in connection with
his hiring as an officer and employee of the Company.
** Amount includes 78 RSUs forfeited by the former Chief Executive Officer in connection with his
resignation as an officer and employee of the Company.
The total fair value of shares vested in 2012, 2011 and 2010 was $3,854, $3,255 and $1,348, respectively. As
of December 31, 2012, unrecognized compensation cost related to RSUs granted under the plans totaled
$7,208. The unrecognized compensation cost is expected to be recognized over a weighted-average period of
2.97 years.
14. Derivative Financial Instruments
At December 31, 2012 and 2011, the Company had outstanding foreign exchange forward contracts with
notional values of $53,577 and $21,299, respectively. The gains and losses on these instruments are recorded
in other income (expense) in the consolidated statements of operations. Gains and losses from foreign
exchange forward contracts, net of gains and losses on the underlying transactions denominated in foreign
currency, for the years ended December 31, 2012, 2011 and 2010 were as follows:
Years Ended December 31,
2012 2011 2010
Losses on foreign exchange forward contracts ........... $(2,232) $(2,004)* $(204)
Gains (losses) on underlying transactions denominated in
foreign currency ............................. 666 (1,644) (146)
Net losses .................................. $(1,566) $(3,648) $(350)
* Amount includes a $1.5 million realized loss on foreign exchange forward hedging contracts in our
U.S. segment due to an operational error.
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