Equity Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Performance Unit Grant [Member]

Assumptions Used in Determining Fair Value of Performance Unit Grant

The grant date fair value of the 2014 Performance Unit Grant was $19.80 per share, which was determined using a Monte Carlo simulation valuation model with the following assumptions:

Expected volatility (1)	24.05	%
Dividend yield (2)	—	%
Risk-free rate (3)	0.70	%
Expected term (in years) (4)	2.6

(1) Due to limited trading history for our common stock, we did not have sufficient information available on which to base a reasonable and supportable estimate of the expected volatility of our share price. As a result, we used an average historical volatility of our peer group over a time period consistent with our expected term assumption. Our peer group was determined based upon companies in our industry with similar business models and is included with those used to benchmark our executive compensation.

(2) At the time of the 2014 Performance Unit Grant, we had no plans to pay dividends during the expected term of these performance shares.

(3) Based on the yields of U.S. Department of Treasury instruments with similar expected lives.

(4) Midpoint of the 30-calendar day period preceding the end of the performance period.

Performance Unit Grant II [Member]

Assumptions Used in Determining Fair Value of Performance Unit Grant

The grant date fair value of the 2015 Performance Unit Grant was $25.35 per share, which was determined using a Monte Carlo simulation valuation model with the following assumptions:

Expected volatility(1)		31.66	%
Dividend yield(2)	— %
Risk-free rate(3)		1.00	%
Expected term (in years)(4)		2.87

(1)  Expected volatility is calculated as the average of the long-term historical volatility based on the peer companies and our implied volatility.

(2) At the time of the 2015 Performance Unit Grant, we had no foreseeable plans to pay dividends during the expected term of these performance shares.

(3) Based on the yields of U.S. Department of Treasury instruments with similar expected lives.

(4) As of the grant date.