Capital Stock and Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share-Based Compensation Expense Recorded In Income from Continuing Operations in Statements of Operations

The table below summarizes share-based compensation expense recorded in income from continuing operations (in thousands):

	Year Ended December 31,
	2016		2015			2014
Selling, general and administrative	$	3,920	$	3,960		$	3,967
Research and development and engineering		117		170			196
Cost of revenue		256		257			166
Restructuring, acquisition and divestiture related costs		—		(322	)		322
Total share-based compensation expense	$	4,293	$	4,065		$	4,651

Estimated Fair Value of Stock Options Using the Black-Scholes Valuation Model

The fair value of stock options granted during 2016 was estimated as of the grant date using the Black-Scholes valuation model with the following assumptions:

	2016
Expected option term in year (1)		6.0
Expected volatility (2)		33.8	%
Risk-free interest rate (3)		1.6	%
Expected annual dividend yield (4)		—

(1) The expected option term was calculated using the simplified method provided by Codification of Staff Accounting Bulletin Topic 14: “Share-Based Payment”.

(2) The expected volatility was determined based on the historical volatility of the Company’s common stock over the expected option term.

(3) Risk-free interest rate was based upon treasury instrument whose term was one year longer than the expected option term.

(4) The expected annual dividend yield is zero, as the Company does not have plans to issue dividends.

2010 Incentive Award Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Restricted Stock Issued and Outstanding

The table below summarizes activities relating to restricted and deferred stock units issued and outstanding under the Amended and Restated 2010 Incentive Plan during the year ended December 31, 2016:

	Restricted and Deferred Stock Units (In thousands)			Weighted Average Grant Date Fair Value		Weighted Average Remaining Vesting Period (in years)	Aggregate Intrinsic Value (1) (In thousands)
Unvested at December 31, 2015		619		$	12.32
Granted		531		$	14.29
Vested		(373	)	$	12.01
Forfeited		(142	)	$	13.11
Unvested at December 31, 2016		635		$	13.97	2.07 years	$	13,335
Expected to vest as of December 31, 2016		608		$	14.00	2.07 years	$	12,767

(1) The aggregate intrinsic value is calculated based on the fair value of $21.00 per share of the Company’s common stock on December 31, 2016 due to the fact that the restricted stock units carry a $0 purchase price.

Performance Stock Units Issued and Outstanding

The table below summarizes activities relating to PSUs issued and outstanding under the Amended and Restated 2010 Incentive Plan during the year ended December 31, 2016:

	Performance Stock Units (2) (In thousands)			Weighted Average Grant Date Fair Value		Weighted Average Remaining Vesting Period (in years)	Aggregate Intrinsic Value (1) (In thousands)
Unvested at December 31, 2015		—		$	—
Granted		46		$	14.13
Vested		—		$	—
Forfeited		(17	)	$	14.13
Unvested at December 31, 2016		29		$	14.13	2.00 years	$	615
Expected to vest as of December 31, 2016		29		$	14.13	2.00 years	$	615

(1) The aggregate intrinsic value is calculated based on the fair value of $21.00 per share of the Company’s common stock on December 31, 2016 due to the fact that the performance stock units carry a $0 purchase price.

(2) The unvested PSUs are shown in this table at target, except for the number of shares vested, which reflect the shares earned.  As of December 31, 2016, the maximum number of PSUs available to be earned is approximately 59 thousand.

Stock Options Issued and Outstanding

The table below summarizes activities relating to stock options issued and outstanding under the Amended and Restated 2010 Incentive Plan during the year ended December 31, 2016:

	Stock Options (In thousands)			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (1) (In thousands)
Unvested at December 31, 2015		—		$	—
Granted		193		$	14.13
Exercised		(13	)	$	14.13
Forfeited		(77	)	$	14.13
Unvested at December 31, 2016		103		$	14.13	9.25 years		$	707
Exercisable as of December 31, 2016		—		$	-		-		-
Expected to vest as of December 31, 2016		103		$	14.13	9.25 years		$	707

(1) The aggregate intrinsic value is calculated as the difference between the market price of $21.00 per share of the Company’s common stock on December 31, 2016 and the grant date exercise price.