XML 58 R42.htm IDEA: XBRL DOCUMENT v3.8.0.1
Long-term Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Award Type
For 2017, 2016 and 2015, compensation expense associated with the Company's long-term compensation plans was as follows:
 
 
Year Ended December 31,
  ($ amounts in millions)
 
2017
 
2016
 
2015
Equity classified RSUs
 
$
10.4

 
$
6.5

 
$
0.8

Liability classified share-based payments
 
0.6

 
0.4

 
(0.1
)
Stock options
 
0.8

 
0.5

 
—

Long-term cash bonus plans
 
—

 
(0.1
)
 
0.1

Total
 
$
11.8

 
$
7.3

 
$
0.8

 
 
 
 
 
 
 
Unrecognized compensation expense for awards expected to vest
 
$
22.2

 
 
 
 
Weighted average remaining vesting period (months)
 
19.1

 
 
 
 
Restricted Stock Unit Award Activity in Payment Awards
At December 31, 2017, a total of 496,203 shares of common stock had been issued, and 3,500,726 RSUs and stock options were outstanding under the 2013 Plan.
 
 
Total
 
RSUs
 
Stock Options (1)
 
 
Equity
Classified
 
Liability
Classified
 
Outstanding at December 31, 2016
 
3,003,003

 
2,117,493

 
320,312

 
565,198

Granted
 
1,373,921

 
1,117,719

 
—

 
256,202

Exercised/Issued
 
(122,769
)
 
(107,450
)
 
—

 
(15,319
)
Forfeited
 
(578,429
)
 
(503,911
)
 
(634
)
 
(73,884
)
Outstanding at December 31, 2017
 
3,675,726

 
2,623,851

 
319,678

 
732,197


(1)        Includes 175,000 stock options not issued under the 2013 Plan.
Issuance of Restricted Stock Units
The Company granted the following equity classified RSUs under the 2013 Plan:
Year of Issuance:
 
RSUs
 
Weighted average grant date fair value
 
Weighted average vesting period (months)
2017
 
1,117,719

 
$
16.08

 
31.2
2016
 
1,754,868

 
10.85

 
33.8
2015
 
453,260

 
24.55

 
54.6
Schedule of Share-based Payment Award, Restricted Stock Units, Valuation Assumptions
The following table provides the range of assumptions used in valuing RSUs containing market vesting conditions:
 
 
Year Ended December 31,
 
 
2017
 
2016
Weighted average expected term (years) (1)
 
3.00
 
3.00
Expected volatility (2)
 
52.1%
 
53.0%
Risk-free rate (3)
 
1.50%
 
1.05%
(1)  
Weighted average expected term is calculated based on the award vesting period.
(2)  
Expected volatility is calculated based on a blend of the implied and historical equity volatility of an index of comparable companies over a period equal to the expected term.
(3)  
Risk-free rate of return is based on an interpolation of U.S. Treasury rates to reflect an expected term of three years at the date of grant.
Schedule of RSUs Outstanding
At December 31, 2017, the following equity classified RSUs were outstanding:
 
 
December 31, 2017
Vesting Conditions:
 
Outstanding
 
Weighted average remaining vesting period (months)
 
Potential additional awards
Service-based
 
931,906

 
16.9
 
—

Performance-based
 
947,013

 
17.7
 
617,020

Market-based
 
744,932

 
21.0
 
1,443,238

Total
 
2,623,851

 
18.4
 
2,060,258
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value
The Company granted the following non-qualified stock options under the 2013 Plan:
Year of Issuance:
 
Stock Options
 
Weighted average strike price per share
 
Weighted average grant date fair value per share
2017
 
256,202

 
$
13.30

 
$
6.05

2016
 
390,198

 
8.05

 
4.35
Valuation Assumptions for Option Grants
The following table provides the range of assumptions used in valuing stock options:
 
 
Year Ended December 31,
 
 
2017
 
2016
Weighted average expected term (years) (1)
 
6.0
 
6.0
Expected volatility (2)
 
45.0%
 
53.0%
Risk-free rate (3)
 
2.09%
 
1.52% to 1.56%
Expected dividend rate
 
—%
 
—%
(1)  
Weighted average expected term is calculated based on the simplified method for plain vanilla options.
(2)  
Expected volatility is calculated based on a blend of the implied and historical equity volatility of an index of comparable companies over a period equal to the expected term.
(3)  
Risk-free rate of return is based on an interpolation of U.S. Treasury rates to reflect an expected term of six years at the date of grant.