XML 42 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
Share Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Share Based Compensation Tables [Abstract]  
Valuation and Expense Information

Valuation and Expense Information

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Total cost of share-based payment plans

 

$

8,013

 

 

$

6,137

 

 

$

8,640

 

Amounts capitalized in oil and gas properties and equipment

 

$

2,451

 

 

$

2,009

 

 

$

3,173

 

Amounts charged against income, before income tax benefit

 

$

5,562

 

 

$

4,128

 

 

$

5,467

 

Amount of related income tax benefit recognized in income

   before valuation allowances

 

$

2,216

 

 

$

1,645

 

 

$

2,285

 

 
Securities Authorized for Issuance Under Equity Compensation Plans

 

Plan Category

 

Number of

Securities to be

Issued

Upon Exercise of

Outstanding

Options

 

 

Weighted

Average

Exercise Price of

Outstanding

Options

 

 

Number of Securities

Remaining Available

for Future Issuance

Under Equity

Compensation Plans

(Excluding Securities

Reflected in the

First Column)

 

 

 

(000’s)

 

 

 

 

 

 

(000’s)

 

Equity compensation plans approved by security holders

 

 

346

 

 

$

60.64

 

 

 

4,339

 

Equity compensation plans not approved by security

   holders

 

n/a

 

 

n/a

 

 

n/a

 

Total

 

 

346

 

 

$

60.64

 

 

 

4,339

 

 
Changes in Stock Options Outstanding

The following table summarizes the changes in stock options for the three year period ended December 31, 2016:

 

 

 

Number of

Options

 

 

Weighted

Average

Exercise Price

(US$)

 

 

 

(000’s)

 

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2013

 

 

1,246

 

 

$

16.97

 

 

to

 

$

98.87

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(513

)

 

$

33.57

 

 

to

 

$

75.18

 

Exercised

 

 

(43

)

 

$

16.97

 

 

to

 

$

25.68

 

Balance, December 31, 2014

 

 

690

 

 

$

25.68

 

 

to

 

$

98.87

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(171

)

 

$

25.68

 

 

to

 

$

75.18

 

Balance, December 31, 2015

 

 

519

 

 

$

49.05

 

 

to

 

$

98.87

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(173

)

 

$

50.15

 

 

to

 

$

75.18

 

Balance, December 31, 2016

 

 

346

 

 

$

49.05

 

 

to

 

$

98.87

 

 
Share Based Compensation by Exercise Price Table

The following table summarizes information about the stock options outstanding and exercisable at December 31, 2016:

 

 

 

Options Outstanding and Exercisable

 

Range of Exercise Price

 

Number

Outstanding

 

 

Weighted

Average

Remaining

Contractual Life

 

 

Weighted

Average

Exercise

Price

 

 

Aggregate

Intrinsic

Value

 

 

 

(000’s)

 

 

(Years)

 

 

 

 

 

 

 

 

 

$49.05 — $62.23

 

 

210

 

 

 

0.31

 

 

$

54.12

 

 

$

—

 

$51.60 — $98.87

 

 

136

 

 

 

1.45

 

 

$

70.64

 

 

$

—

 

 
Weighted Average Grant Date Fair Value of Stock Options

The following table summarizes information about the weighted-average grant-date fair value of share options:

 

 

 

2016

 

 

2015

 

 

2014

 

Options forfeited during the year

 

$

25.17

 

 

$

28.00

 

 

$

24.40

 

 
Valuation Assumptions

Valuation Assumptions

The Company estimates the fair value of the market condition related to the LTIP awards on the date of grant using a Monte Carlo simulation with the following assumptions:

 

 

 

2015 LTIP

 

 

2014 LTIP

 

Volatility of common stock

 

 

40.1

%

 

 

39.0

%

Average volatility of peer companies

 

 

46.5

%

 

n/a

 

Average correlation coefficient of peer companies

 

 

0.454

 

 

n/a

 

Risk-free interest rate

 

 

1.02

%

 

 

0.66

%