XML 21 R10.htm IDEA: XBRL DOCUMENT v3.10.0.1
Share-Based Compensation
 6 Months Ended
Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation
Share-Based Compensation
For the three and six months ended June 30, 2018 and 2017, we recorded share-based compensation and related tax benefits as follows: 
 
 
Three months ended June 30,
 
Six months ended June 30,
(Dollars in thousands)
 
2018
 
2017
 
2018
 
2017
Share-based compensation expense
 
$
11,944

 
$
9,892

 
$
22,467

 
$
19,095

Income tax benefit related to share-based compensation expense
 
(2,743
)
 
(3,349
)
 
(5,060
)
 
(6,364
)

Unrecognized Compensation Expense
As of June 30, 2018, unrecognized share-based compensation expense was as follows:
(Dollars in thousands)
 
  Unrecognized  
Expense
 
Weighted Average Expected
Recognition Period 
- in Years  
Stock options
 
$
15,039

 
3.10
Restricted stock units
 
81,376

 
2.91
Total unrecognized share-based compensation expense
 
$
96,415

 
 

Share-Based Payment Award Activity
The table below provides stock option information related to the 2006 Equity Incentive Plan for the six months ended June 30, 2018:
 
 
Options
 
Weighted
Average
 Exercise Price 
 
Weighted Average Remaining Contractual Life - in Years  
 
Aggregate
  Intrinsic Value  
of In-The-
Money
Options
Outstanding at December 31, 2017
 
808,049

 
$
105.68

 
 
 
 
Granted
 
87,352

 
305.22

 
 
 
 
Exercised
 
(156,580
)
 
84.83

 
 
 
 
Forfeited
 
(1,926
)
 
130.69

 
 
 
 
Expired
 
(2,337
)
 
60.37

 
 
 
 
Outstanding at June 30, 2018
 
734,558

 
133.93

 
3.92
 
$
115,185,279

Vested and expected to vest at June 30, 2018
 
710,108

 
131.27

 
3.85
 
113,119,954

Exercisable at June 30, 2018
 
449,728

 
97.80

 
2.82
 
85,881,104


The aggregate intrinsic value of outstanding options shown in the table above represents the pre-tax intrinsic value based on our closing stock price of $288.76 as of June 30, 2018. The total intrinsic value of options exercised during the three and six months ended June 30, 2018 was $21.6 million and $31.0 million, respectively, compared to $5.6 million and $22.1 million for the comparable 2017 periods.
The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the six months ended June 30, 2018:
 
 
Shares    
 
Weighted Average Grant Date Fair Value
Nonvested at December 31, 2017
 
637,667

 
$
135.86

Granted
 
185,292

 
301.56

Vested
 
(206,997
)
 
130.29

Forfeited
 
(21,028
)
 
148.43

Nonvested at June 30, 2018
 
594,934

 
188.96