Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based Compensation, Stock Options, Activity

Class A common stock option ("Options") activity was as follows during the periods indicated:

	Six Months Ended June 30, 2018				Six Months Ended June 30, 2017
	Number of Options		Weighted Average Exercise Price		Number of Options
Outstanding at beginning of period	9,821,884		$	2.65	10,006,890
Granted prior to Reorganization Transactions and IPO(1)	340,000		14.95		315,000
Exercised prior to Reorganization Transactions and IPO(2)(3)	(270,000	)	3.19		(2,000	)
Forfeited prior to Reorganization Transactions and IPO	(260,000	)	6.41		(338,000	)
Effect of Reorganization Transactions and IPO	(186,772	)	7.56		N/A
Granted after the Reorganization Transactions and IPO(1)	622,500		23.00		N/A
Exercised after Reorganization Transactions and IPO	—		N/A		N/A
Forfeited after Reorganization Transactions and IPO	(160,000	)	22.14		N/A
Outstanding at end of period(4)	9,907,612		$	3.83	9,981,890
Exercisable at end of period(4)	7,161,832		$	1.47	6,822,500

⁽¹⁾  Weighted average grant date fair value of Options granted during the six months ended June 30, 2018 and 2017 was $6.34 and $3.52, respectively.

⁽²⁾  The total intrinsic value of Options exercised, which is defined as the amount by which the market value of the stock on the date of exercise exceeds the exercise price, during the six months ended June 30, 2018 and 2017 was $1,190 and $8, respectively.

⁽³⁾  Employees paid $339 during the six months ended June 30, 2018 to the Company to exercise Options, which resulted in the issuance of 30,516 Holdco Units. Additionally, during the six months ended June 30, 2018, 210,000 Options were exercised by means of a cashless net exercise procedure, which resulted in the issuance of 38,637 Holdco Units.

⁽⁴⁾  The aggregate intrinsic value and weighted average remaining contractual terms of Options outstanding and Options exercisable were as follows as of June 30, 2018:

	June 30, 2018
Aggregate intrinsic value (in millions)
Unit Options outstanding	$	60.3
Unit Options exercisable	$	45.9
Weighted average remaining term (in years)
Unit Options outstanding	5.51
Unit Options exercisable	4.63

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value

The aggregate intrinsic value and weighted average remaining contractual terms of Options outstanding and Options exercisable were as follows as of June 30, 2018:

	June 30, 2018
Aggregate intrinsic value (in millions)
Unit Options outstanding	$	60.3
Unit Options exercisable	$	45.9
Weighted average remaining term (in years)
Unit Options outstanding	5.51
Unit Options exercisable	4.63

Schedule of Other Share-based Compensation, Activity

Profits interests activity was as follows during the periods indicated:

	Six Months Ended June 30, 2018				Six Months Ended June 30, 2017
	Number of Profits Interests		Weighted Average Threshold Price		Number of Profits Interests
Outstanding at beginning of period	14,061,530		$	8.23	12,616,890
Granted prior to Reorganization Transactions and IPO(1)	2,920,000		14.31		295,000
Forfeited prior to Reorganization Transactions and IPO	(800,000	)	9.32		(400,000	)
Redeemed prior to Reorganization Transactions and IPO	—		N/A		—
Effect of Reorganization Transactions and IPO	(16,181,530	)	9.27		N/A
Outstanding at end of period(2)	—		N/A		12,511,890

⁽¹⁾Weighted average grant-date fair value of profits interests granted during the six months ended June 30, 2018 and 2017 was $4.47 and $2.89, respectively.

⁽²⁾The total fair value based on grant-date fair value of profits interests that vested was $371 and $345 during the six months ended June 30, 2018 and 2017, respectively.

Schedule of Nonvested Share Activity

Unvested Holdco Units activity was as follows during the periods indicated:

	Six Months Ended June 30, 2018			Six Months Ended June 30, 2017
	Holdco Units	Weighted Average Grant Date Fair Value		Holdco Units
Unvested at beginning of period	—	N/A		N/A
Effect of Reorganization Transactions and IPO	3,172,843	$	23.00	N/A
Granted	—	N/A		N/A
Forfeited	—	N/A		N/A
Vested	—	N/A		N/A
Unvested at June 30, 2018	3,172,843	$	23.00	N/A

Unvested Class A common stock award activity was as follows during the periods indicated:

	Six Months Ended June 30, 2018				Six Months Ended June 30, 2017
	Class A common stock		Weighted Average Grant Date Fair Value		Class A common stock
Unvested at beginning of period	—		N/A		N/A
Effect of Reorganization Transactions and IPO	255,904		$	23.00	N/A
Granted	—		N/A		N/A
Forfeited	—		N/A		N/A
Vested(1)	(6,696	)	23.00		N/A
Unvested at June 30, 2018	249,208		$	23.00	N/A

⁽¹⁾  The total fair value, based on grant-date fair value, of unvested Class A common stock awards that vested was $154 during the six months ended June 30, 2018.