Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2016

Equity related disclosures

Schedule of stock option activity

	2014			2015
		Weighted			Weighted
		Average			Average
		Exercise			Exercise
	Options	Price		Options	Price
Outstanding, beginning of period	4,010,146	$	47.23	3,321,063	$	50.58
Granted	769,636		59.62	1,004,321		62.65
Forfeited	(267,028)		53.74	(244,658)		60.25
Exercised	(1,191,691)		44.45	(1,140,886)		47.41
Outstanding, end of period	3,321,063		50.58	2,939,840		55.13

	2016
				Weighted
				Average
		Weighted		Remaining	Aggregate
		Average		Contractual	Intrinsic
		Exercise		Term	Value
	Options	Price		(in years)	(in thousands)
Outstanding, beginning of period	2,939,840	$	55.13
Granted	501,960		64.10
Forfeited	(104,680)		57.23
Exercised	(493,943)		50.60
Outstanding, end of period	2,843,177	$	57.42	6.80	$	50,684
Vested and expected to vest at end of period	2,821,794	$	57.38	6.79	$	50,417
Exercisable, end of period	1,612,850	$	53.76	5.55	$	34,658

Schedule of weighted average assumptions used to determine weighted average grant date fair value

	2014		2015		2016
Risk-free interest rate	1.16	%	1.28	%	1.16	%
Expected life	4	years	4	years	4	years
Expected volatility	26.20	%	25.03	%	27.75	%
Expected dividend yield	0.00	%	0.00	%	0.00	%

Schedule of nonvested restricted stock award activity

	2014			2015			2016
		Weighted			Weighted			Weighted
		Average			Average			Average
		Grant Date			Grant Date			Grant Date
	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value
Outstanding, beginning of period	192,165	$	56.59	1,626,827	$	57.66	1,109,622	$	57.88
Awarded (1)	1,451,231		57.75	20,115		67.12	77,744		65.52
Vested	(16,569)		52.82	(537,320)		57.56	(571,894)		58.03
Forfeited	—		—	—		—	—		—
Outstanding, ending of period	1,626,827		57.66	1,109,622		57.88	615,472		58.71

December 31, 2014 includes 1,433,946 shares associated with the CDMI acquisition. December 31, 2016 includes 60,069 shares associated with the AFSC acquisition.

Schedule of nonvested restricted stock units

	2014			2015			2016
		Weighted			Weighted			Weighted
		Average			Average			Average
		Grant Date			Grant Date			Grant Date
	Shares	Fair Value		Shares	Fair Value		Shares	Fair Value
Outstanding, beginning of period	194,913	$	50.21	156,695	$	54.88	231,088	$	61.53
Awarded	76,306		60.39	187,272		63.42	51,521		64.87
Vested	(91,510)		49.53	(79,036)		52.82	(53,839)		63.32
Forfeited	(23,014)		54.86	(33,843)		61.54	(28,592)		63.34
Outstanding, ending of period	156,695		54.88	231,088		61.53	200,178		61.65

Summary of nonvested performance-based restricted stock units

Summarized information related to the Company’s nonvested PSUs for the years ended December 31, 2015 and 2016 is as follows:

	2015			2016
		Weighted			Weighted
		Average			Average
		Grant Date			Grant Date
	Shares	Fair Value		Shares	Fair Value
Outstanding, beginning of period	—	$	—	36,938	$	85.00
Awarded	43,900		85.00	69,691		97.22
Vested	—		—	—		—
Forfeited	(6,962)		85.00	(3,652)		91.89
Outstanding, end of period	36,938		85.00	102,977		93.03

Computation of basic and diluted earnings per share

The following table reconciles income (numerator) and shares (denominator) used in the Company’s computations of net income per share for the years ended December 31, 2014, 2015 and 2016 (in thousands, except per share data):

	2014		2015		2016
Numerator:
Net income attributable to Magellan Health, Inc.	$	79,404	$	31,413	$	77,879
Denominator:
Weighted average number of common shares outstanding—basic		26,689		24,865		23,181
Common stock equivalents—stock options		495		316		289
Common stock equivalents—RSAs		155		626		593
Common stock equivalents—RSUs		14		33		45
Common stock equivalents—PSUs		—		35		45
Common stock equivalents—employee stock purchase plan		2		2		3
Weighted average number of common shares outstanding—diluted		27,355		25,877		24,156
Net income attributable to Magellan Health, Inc. per common share—basic	$	2.98	$	1.26	$	3.36
Net income attributable to Magellan Health, Inc. per common share—diluted	$	2.90	$	1.21	$	3.22

October 2011 Share Repurchase Program

Equity related disclosures

Schedule of stock repurchases made

Pursuant to this program, the Company made purchases as follows (aggregate cost excludes broker commissions and is reflected in millions):

	TotalNumber	Average
	ofShares	Price Paid		Aggregate
Period	Purchased	per Share		Cost
November 11, 2011 - December 31, 2011	671,776	$	48.72	$	32.7
January 1, 2012 - December 31, 2012	459,252		50.27		23.1
January 1, 2013 - December 31, 2013	1,159,871		51.83		60.1
January 1, 2014 - November 21, 2014	3,183,306		57.82		184.1
	5,474,205			$	300.0

October 2014 Share Repurchase Program

Equity related disclosures

Schedule of stock repurchases made

and the program was completed. Pursuant to this program, the Company made purchases as follows (aggregate cost excludes broker commissions and is reflected in millions):

	TotalNumber	Average
	ofShares	Price Paid		Aggregate
Period	Purchased	per Share		Cost
November 24, 2014 - December 31, 2014	232,170	$	60.65	$	14.1
January 1, 2015 - October 21, 2015	3,153,156		58.96		185.9
	3,385,326			$	200.0

October 2015 Share Repurchase Program

Equity related disclosures

Schedule of stock repurchases made

Pursuant to this program, the Company made purchases as follows (aggregate cost excludes broker commissions and is reflected in millions):

	TotalNumber	Average
	ofShares	Price Paid		Aggregate
Period	Purchased	per Share		Cost
October 26, 2015 - December 31, 2015	345,044	$	53.46	$	18.4
January 1, 2016 - December 31, 2016	1,828,183		58.40		106.8
	2,173,227			$	125.2