XML 19 R25.htm IDEA: XBRL DOCUMENT v2.4.0.8
Equity-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2014
Equity-Based Compensation [Abstract]  
Schedule of Stock Options Roll Forward [Table Text Block]
The following table sets forth a summary of the Company's stock option activity for the nine months ended September 30, 2014:
Options
 
Number of Options
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Term
 
Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2014
 
1,280,255

 
$
17.00

 
 
 
 
Granted
 
1,244,386

 
$
24.39

 
 
 
 
Forfeited/Expired
 
(9,264
)
 
$
24.29

 
 
 
 
Exercised
 
(63,432
)
 
$
17.00

 
 
 
$
0.8

Outstanding at September 30, 2014
 
2,451,945

 
$
20.72

 
8.6
 
$
25.3

Vested at September 30, 2014
 
524,824

 
$
17.00

 
7.5
 
$
7.4

Exercisable at September 30, 2014
 
524,824

 
$
17.00

 
7.5
 
$
7.4

Expected to vest at September 30, 2014
 
1,874,216

 
$
21.75

 
8.8
 
$
17.4
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The assumptions used to value the stock options granted during the nine months ended September 30, 2014 are presented below.

Assumptions
Nine Months Ended September 30, 2014
Weighted-average grant date fair value
$
7.23

Weighted-average volatility (1)
30.00
%
Weighted-average risk-free rate (2)
1.77
%
Dividend yield
0.70
%
Expected term (in years) (3)
6.0


(1)
Based upon an assessment of the two-year, five-year and implied volatility for the Company’s selected peer group, adjusted for the Company’s leverage.

(2)
Based on a composite U.S. Treasury rate.

(3)
The expected term is calculated using the simplified method. The simplified method defines the expected term as the average of the option’s contractual term and the option’s weighted-average vesting period. The Company utilizes this method as it has limited historical stock option data that is sufficient to derive a reasonable estimate of the expected stock option term.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]
The following table sets forth a summary of the Company's restricted stock unit activity for the nine months ended September 30, 2014:
 
Number of Units
 
Weighted-Average Grant-Date Fair Value
Nonvested at January 1, 2014
1,351,572

 
$
17.04

Granted
25,844

 
24.29

Vested/Settled
(1,528
)
 
17.00

Forfeited
(101,069
)
 
17.00

Nonvested at September 30, 2014
1,274,819

 
$
17.18