XML 104 R34.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense
The following is a summary of stock-based compensation expense we recorded during the respective periods:
  
Year Ended December 31,
 201920182017
 (in thousands)
Selling, general and administrative expenses$21,947  $18,621  $24,364  
Corporate expenses26,838  26,961  18,391  
Total $48,785  $45,582  $42,755  
Assumptions Used to Calculate Fair Value of Options
The following assumptions were used to calculate the fair value of our options on the date of grant:
 
Year Ended December 31,
 201920182017
Risk-free interest rate
1.89% - 2.53%
2.68% - 2.70%
1.87% - 2.27%
Dividend yield0.0 %0.0 %0.0 %
Volatility factors
27.63% - 28.12%
27.66% - 28.00%
25.88% - 27.58%
Weighted average expected life (in years)6.085.745.78
Summary of Stock Options Activity
The following table presents a summary of our stock options outstanding at the dates given, and stock option activity for the period between such dates (“Price” reflects the weighted average exercise price per share):  
Year Ended December 31,
 201920182017
     Options    Price    Options    Price    Options    Price
 (in thousands, except per share data)
Outstanding January 111,784  $16.55  14,239  $14.52  16,283  $13.55  
Granted487  57.00  255  44.05  1,164  33.48  
Exercised(910) 15.50  (2,694) 8.38  (3,138) 16.27  
Forfeited or expired
(14) 10.82  (16) 28.57  (70) 24.05  
Outstanding December 3111,347  $18.36  11,784  $16.55  14,239  $14.52  
Exercisable December 3110,493  $15.77  10,693  $14.61  11,906  $12.00  
Weighted average fair value per option granted$18.50  $14.05   $10.18  
Summary of Stock Options, by Range of Exercise Price Vesting dates on the stock options range from February 2020 to June 2023, and expiration dates range from January 2020 to June 2029 at exercise prices and average contractual lives as follows:
Range of
Exercise
Prices
Outstanding
as of
12/31/19
Weighted
Average
Remaining
Contractual
Life
Weighted
Average
Exercise
Price 
Exercisable
as of
12/31/19
Weighted
Average
Remaining
Contractual
Life
Weighted
Average
Exercise
Price
(in thousands) 
(in years) 
(in thousands) 
(in years) 
$5.00 - $9.99
4,325  2.8$8.80  4,325  2.8$8.80  
$10.00 - $14.99
1,754  1.7$11.39  1,754  1.7$11.39  
$15.00 - $19.99
921  6.0$19.31  921  6.0$19.31  
$20.00 - $24.99
1,596  4.1$21.14  1,595  4.1$21.13  
$25.00 - $29.99
1,663  6.0$26.99  1,607  6.0$26.92  
$30.00 - $44.99
601  8.1$43.76  291  8.0$43.75  
$45.00 - $60.99
487  9.2$56.77  —  0.0$—  
Summary of Unvested Restricted Stock Activity
The following table presents a summary of our unvested restricted stock awards outstanding at December 31, 2019, 2018 and 2017 (“Price” reflects the weighted average share price at the date of grant):
 
Restricted Stock
 AwardsPrice
 (in thousands, except per share data)
Unvested at December 31, 20161,080  $21.67  
Granted1,132  35.97  
Forfeited(82) 22.96  
Vested(523) 21.89  
Unvested at December 31, 20171,607  $31.79  
Granted535  44.54  
Forfeited(37) 30.38  
Vested(706) 28.35  
Unvested at December 31, 20181,399  $38.13  
Granted415  57.58  
Forfeited(26) 38.45  
Vested(618) 36.54  
Unvested at December 31, 20191,170  $45.80  
Summary of Deferred Stock Activity
The following table presents a summary of the Company’s unvested deferred stock awards outstanding at December 31, 2019, 2018 and 2017 (“Price” reflects the weighted average grant date fair value):
Deferred Stock
AwardsPrice
(in thousands, except per share data)
Unvested at December 31, 2016—  0.00
Awarded2,500  26.69
Forfeited—  0.00
Vested—  0.00
Unvested at December 31, 20172,500  26.69
Awarded—  0.00
Forfeited—  0.00
Vested—  0.00
Unvested at December 31, 20182,500  26.69
Awarded—  0.00
Forfeited—  0.00
Vested(14) 36.08
Unvested at December 31, 20192,486  26.63