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Equity-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2017
Performance Unit Grant II [Member]  
Assumptions Used in Determining Fair Value of Performance Unit Grant

The weighted average grant date fair value of the PSUs granted during the three months ended March 31, 2017 was $15.79 per unit, which was determined using a Monte Carlo simulation valuation model with the following assumptions:

 

 

Expected volatility (1)

 

 

27.96

%

Dividend yield (2)

 

 

—

%

Risk-free rate (3)

 

 

1.54

%

Expected term (in years) (4)

 

 

2.82

 

 

 

 

(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 PSU 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.