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EQUITY AND LONG-TERM INCENTIVE PLANS (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation Expense (Income) for Continuing Operations
The following table presents the share-based compensation expense recognized by the Company as selling, general and administrative expense for the years ended December 31, 2015, 2014 and 2013:
 
Years Ended December 31,
 
2015
 
2014
 
2013
Stock options
$
9,159

 
$
7,573

 
$
17,560

Restricted shares and restricted stock units
51,162

 
36,411

 
35,155

Share-based compensation related to equity classified awards
60,321

 
43,984

 
52,715

Other share-based compensation
4,965

 
—

 
—

Total share-based compensation
$
65,286

 
$
43,984

 
$
52,715
Assumptions Used to Calculate the Fair Value of Stock Option Awards
The following assumptions were used to calculate the fair values of stock option awards granted in the first quarter of 2015, 2014 and 2013:
 
2015
 
2014
 
2013
 
 
 
 
 
 
Risk-free interest rate
1.82
%
 
2.12
%
 
1.25
%
Expected life (in years)
8

 
6.5

 
6.5

Dividend yield
3.63
%
 
3.79
%
 
3.86
%
Volatility
39.98
%
 
42.80
%
 
42.31
%
Grant date fair value
$
5.45

 
$
5.27

 
$
3.96
Activity for Stock Options
The following table summarizes activity relating to Company employees who held Cablevision stock options for the year ended December 31, 2015:
 
Shares
Under Option
 
 
 
 
 
 
 
Time
Vesting
Options
 
Performance
Based Vesting
Options
 
Weighted
Average
Exercise
Price Per
Share
 
Weighted
Average
Remaining
Contractual
Term
(in years)
 
Aggregate
Intrinsic
Value (a)
Balance, December 31, 2014
5,097,666

 
7,633,500

 
$
14.41

 
7.17
 
$
79,347

Granted
2,000,000

 
—

 
19.17

 
 
 
 

Exercised
(353,666
)
 
(1,024,283
)
 
12.84

 
 
 
 

Balance, December 31, 2015
6,744,000

 
6,609,217

 
15.28

 
6.80
 
221,900

Options exercisable at December 31, 2015
744,000

 
6,609,217

 
13.94

 
5.67
 
132,080

Options expected to vest in the future
6,000,000

 
—

 
16.93

 
8.18
 
89,820

 
(a)
The aggregate intrinsic value is calculated as the difference between (i) the exercise price of the underlying award and (ii) the quoted price of CNYG Class A common stock on December 31, 2015 or December 31, 2014, as indicated, and December 31, 2015 in the case of the options exercisable and options expected to vest in the future.
Activity for Restricted Shares
The following table summarizes activity relating to Company employees who held Cablevision restricted shares and restricted stock units for the year ended December 31, 2015:
 
Number of Restricted Shares
 
Number of Performance Restricted Shares
 
Number of PSUs (a)
 
Weighted Average Fair Value Per Share at Date of Grant
Unvested award balance, December 31, 2014
5,314,870

 
2,035,300

 
—

 
$
15.46

Granted
1,747,870

 
584,400

 
1,851,700

 
19.43

Vested
(1,598,363
)
 
(739,600
)
 
—

 
14.48

Awards forfeited
(496,629
)
 
—

 
(79,270
)
 
17.28

Unvested award balance, December 31, 2015
4,967,748

 
1,880,100

 
1,772,430

 
17.53


 
(a)
The PSUs entitle the employee to shares of CNYG common stock up to 150% of the number of PSUs granted depending on the level of achievement of the specified performance criteria.  If the minimum performance threshold is not met, no shares will be issued. Accrued dividends are paid to the extent that a PSU vests and the related stock is issued.