STOCK-BASED COMPENSATION AND EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2017

Postemployment Benefits [Abstract]

Stock-based Compensation Expense

The following table presents stock-based compensation expense included in the Company’s consolidated statements of income (in thousands):

	Year Ended December 31,
	2017		2016		2015
Cost of portal revenues, exclusive of depreciation & amortization	$	1,276	$	1,390	$	1,404
Cost of software & services revenues, exclusive of depreciation & amortization	86		62		83
Selling & administrative	4,102		4,545		4,954
Stock-based compensation expense before income taxes	$	5,464	$	5,997	$	6,441

Service-Based Restricted Stock Activity

A summary of service-based restricted stock activity for the year ended December 31, 2017 is presented below:

	Service-based Restricted Shares		Weighted Average Grant Date Fair Value
Outstanding at January 1, 2016	633,451		$	17.89
Granted	292,448		$	21.46
Vested	(268,352	)	$	17.67
Canceled	(47,661	)	$	19.20
Outstanding at December 31, 2017	609,886		$	19.59
Expected to vest at December 31, 2017	609,886		$	19.59

Performance-Based Restricted Stock Activity

A summary of performance-based restricted stock activity for the year ended December 31, 2017 is presented below:

	Performance- based Restricted Shares		Weighted Average Grant Date Fair Value
Outstanding at January 1, 2016	310,951		$	17.94
Granted	110,678		$	22.00
Vested	(59,437	)	$	19.41
Canceled	(21,503	)	$	19.41
Outstanding at December 31, 2017	340,689		$	18.91
Expected to vest at December 31, 2017	53,841		$	22.15

Assumptions Used to Estimate Grant Date Fair Value Using Black-Scholes Model

The fair values of the offerings were estimated on the dates of grant using the Black-Scholes model using the assumptions in the following table.

	March 31, 2018 Offering			March 31, 2017 Offering			March 31, 2016 Offering
Risk-free interest rate	1.02		%	0.62		%	0.27		%
Expected dividend yield	2.69		%	3.04		%	3.07		%
Expected life	1.0 year			1.0 year			1.0 year
Expected stock price volatility	23.07		%	28.54		%	37.86		%
Weighted average fair value of ESPP rights	$	4.58		$	4.40		$	4.88