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Share-Based Payments (Tables)
6 Months Ended
Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Compensation Costs Related to Share-Based Payments



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Three months ended

 

Six months ended



June 30,

 

June 30,



 

2016 

 

 

2015 

 

 

2016 

 

 

2015 

Stock option compensation expense

$

1,400 

 

$

1,333 

 

$

2,470 

 

$

2,056 

Share unit expense:

 

 

 

 

 

 

 

 

 

 

 

Equity-classified PSUs

 

486 

 

 

 -

 

 

486 

 

 

 -

Liability-classified share units

 

5,508 

 

 

2,902 

 

 

6,780 

 

 

3,919 

Employee share purchase plan -

 

 

 

 

 

 

 

 

 

 

 

employer contributions

 

396 

 

 

323 

 

 

749 

 

 

631 



$

7,790 

 

$

4,558 

 

$

10,485 

 

$

6,606 



Summary of Stock Option Activity



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



 

 

WA

 



Common

 

 

WA

remaining

 

 

Aggregate



shares under

 

 

exercise

contractual

 

 

intrinsic



option

price

life (in years)

value



 

 

 

 

 

 

 

 

Outstanding, December 31, 2014

3,897,791 

 

 

22.09 

 

 

 

 

Granted

880,706 

 

 

25.50 

 

 

 

 

Exercised

(1,412,535)

 

 

21.11 

 

 

$

9,426 

Forfeited

(89,884)

 

 

23.10 

 

 

 

 



 

 

 

 

 

 

 

 

Outstanding, December 31, 2015

3,276,078 

 

 

23.40 

 

 

 

 

Granted

1,237,633 

 

 

24.25 

 

 

 

 

Exercised

(806,569)

 

 

22.39 

 

 

$

5,774 

Forfeited

(65,259)

 

 

24.32 

 

 

 

 



 

 

 

 

 

 

 

 

Outstanding, June 30, 2016

3,641,883 

 

$

23.90  7.8 

 

$

35,992 



 

 

 

 

 

 

 

 

Exercisable, June 30, 2016

1,433,078 

 

$

22.84  5.8 

 

$

15,675 



Summary of Share Unit Activity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Equity-classified awards

 

Liability-classified awards



PSUs

 

PSUs (1)

 

Restricted share units

 

DSUs



 

 

WA grant

 

 

 

WA grant

 

 

 

WA grant

 

 

 

WA grant



 

 

 

date fair

 

 

 

 

date fair

 

 

 

 

date fair

 

 

 

 

date fair



Number

 

 

value

 

Number

 

 

value

 

Number

 

 

value

 

Number

 

 

value

Outstanding, December 31, 2014

 -

 

$

 -

 

238,573 

 

$

23.38 

 

403,587 

 

$

22.32 

 

42,289 

 

$

22.33 

Granted

 -

 

 

 -

 

218,699 

 

 

24.57 

 

20,528 

 

 

26.38 

 

29,072 

 

 

26.07 

Vested and settled

 -

 

 

 -

 

(6,870)

 

 

22.22 

 

(28,887)

 

 

22.53 

 

(13,365)

 

 

22.34 

Forfeited

 -

 

 

 -

 

(28,817)

 

 

23.23 

 

(62,274)

 

 

21.56 

 

 -

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2015

 -

 

$

 -

 

421,585 

 

$

24.03 

 

332,954 

 

$

22.70 

 

57,996 

 

$

24.21 

Granted

5,288 

 

 

29.66 

 

248,910 

 

 

23.32 

 

3,033 

 

 

25.92 

 

9,714 

 

 

26.08 

Transferred to (from) equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

awards on modification

257,934 

 

 

27.34 

 

(257,934)

 

 

23.86 

 

 -

 

 

 -

 

 -

 

 

 -

Vested and settled

 -

 

 

 -

 

(41,898)

 

 

22.17 

 

(157,406)

 

 

22.11 

 

(1,847)

 

 

25.28 

Forfeited

 -

 

 

 -

 

(31,089)

 

 

22.65 

 

(8,944)

 

 

22.61 

 

 -

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding, June 30, 2016

263,222 

 

$

27.39 

 

339,574 

 

$

23.99 

 

169,637 

 

$

23.31 

 

65,863 

 

$

24.45 



Stock Option Plan [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock Option and Performance Share Unit Pricing Assumptions



 

 



 

 

Six months ended June 30,

2016  2015 

Risk free interest rate

1.2%  1.8% 

Expected dividend yield

2.66%  2.18% 

Expected lives of the stock options

5 years

5 years

Expected volatility

26.5%  26.3% 



Senior Executive and Employee Performance Share Unit Plans [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock Option and Performance Share Unit Pricing Assumptions



 

 

 



 

 

 

Six months ended June 30,

 

2016  2015 

Risk free interest rate

 

1.2%  1.3% 

Expected dividend yield

 

2.49%  2.17% 

Expected lives of the PSUs

 

3 years

3 years

Expected volatility

 

29.9%  29.4% 

Average expected volatility of comparable companies

 

37.0%  32.8% 



Sign-on Grant Performance Share Unit Plans [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock Option and Performance Share Unit Pricing Assumptions



 

 



 

 

Six months ended June 30,

2016  2015 

Risk free interest rate

0.9%  1.5% 

Expected dividend yield

2.31%  2.07% 

Expected volatility

28.3%  35.2%