XML 169 R58.htm IDEA: XBRL DOCUMENT v2.4.1.9
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity
The following table summarizes the activity for stock options granted by the Company:
 
 
Shares
 
Weighted-Average Exercise Price Per Share
 
Weighted-Average Remaining Contractual Term (in years)
 
Aggregate Intrinsic Value (in $000s)
Outstanding at January 1, 2012
 
1,283,116

 
$
16.34

 
8.51
 
$
6,042

Granted
 
800,820

 
20.56

 
 
 
 
Exercised
 
(87,598
)
 
14.13

 
 
 
1,410

Forfeited or expired
 
(40,539
)
 
28.33

 
 
 
 
Outstanding at December 31, 2012
 
1,955,799

 
17.92

 
7.02
 
49,458

Granted
 
1,050,904

 
33.79

 
 
 
 
Exercised
 
(166,711
)
 
17.39

 
 
 
3,561

Forfeited or expired
 
(113,439
)
 
31.33

 
 
 
 
Outstanding at December 31, 2013
 
2,726,553

 
23.51

 
7.22
 
32,785

Granted
 
67,507

 
29.11

 
 
 
 
Exercised
 
(303,449
)
 
18.12

 
 
 
3,468

Forfeited
 
(126,883
)
 
31.24

 
 
 
 
Outstanding at December 31, 2014
 
2,363,728

 
23.95

 
6.34
 
1,223

Exercisable at December 31, 2014
 
1,236,543

 
17.40

 
5.22
 
1,223

Options expected to vest as of December 31, 2014
 
1,110,672

 
31.09

 
7.56
 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The fair value of each stock option award was estimated at the grant date using the Black-Scholes option-pricing model. The weighted-average assumptions the Company used to value these awards are shown below.
 
 
For the Years Ended December 31,
 
 
2014
 
2013
 
2012
Risk-free interest rate
 
1.17
%
 
0.75
%
 
0.73
%
Dividend yield
 
%
 
%
 
0.05
%
Expected life (years)
 
4.00

 
5.00

 
4.50

Volatility
 
42.56
%
 
51.45
%
 
52.66
%
Forfeiture rate
 
2.20
%
 
3.14
%
 
1.40
%
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
The following table summarizes the activity for non-vested awards granted by the Company:
 
 
Shares
 
Weighted-Average Grant-Date Fair Value Per Share
 
Weighted-Average Contractual Term (in years)
 
Aggregate Intrinsic Value (in $000s)
Outstanding at January 1, 2012
 
1,766,960

 
$
15.84

 
5.65
 
$
36,240

Granted
 
110,783

 
20.72

 
 
 
 
Vested and settled
 
(969,815
)
 
 
 
 
 
20,189

Forfeited
 
(92,000
)
 
24.93

 
 
 
 
Outstanding at December 31,2012
 
815,928

 
22.32

 
3.09
 
35,101

Granted
 
36,576

 
35.79

 
 
 
 
Vested and settled
 
(522,762
)
 
 
 
 
 
20,922

Forfeited
 
(21,316
)
 
25.73

 
 
 
 
Outstanding at December 31, 2013
 
308,426

 
25.65

 
1.90
 
10,906

Granted
 
738,164

 
32.46

 
 
 
 
Vested and settled
 
(30,898
)
 
29.45

 
 
 
910

Forfeited
 
(94,133
)
 
8.48

 
 
 
 
Outstanding at December 31, 2014
 
921,559

 
30.42

 
1.84
 
15,215

Non-vested shares expected to vest as of December 31, 2014
 
901,631

 
30.39

 
1.83
 
14,886

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The fair value of each performance-share award was estimated at the grant date using the Monte-Carlo simulation model. The weighted-average assumptions the Company used to value performance-share awards are shown below.
 
 
For the Year Ended 
 December 31, 2014
Risk-free interest rate
 
0.82
%
Simulation period (years)
 
2.76

Volatility
 
46.58
%
Beginning TSR price
 
$
28.09

Forfeiture rate
 
2.20
%