Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2017

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

Share-based compensation expense and income tax benefits recognized during the periods

The following table provides information on share-based compensation expense and related income tax benefits recognized in 2017, 2016 and 2015:

	Years ended December 31,
	2017			2016		2015
	(In thousands)
Stock option and stock purchase plans	$	7,869		7,244		8,048
Unvested stock awards	11,098			11,420		13,133
Share-based compensation expense	18,967			18,664		21,181
Income tax benefit	(6,628		)	(6,644	)	(7,271	)
Share-based compensation expense, net of tax	$	12,339		12,020		13,910

Summary of share-based compensation expense recognized related to cash awards

The following table is a summary of compensation expense recognized related to cash awards in addition to share-based compensation expense reported in the previous table.

	Years ended December 31
	2017		2016	2015
	(In thousands)
Cash awards	$	174	689	532

Summary of stock option activity

The following is a summary of option activity under our stock option plans as of and for the year ended December 31, 2017:

	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic  Value
	(In thousands)				(In years)	(In thousands)
Options outstanding at January 1	1,529		$	66.35
Granted	465		76.43
Exercised	(235	)	55.41
Forfeited or expired	(42	)	70.56
Options outstanding at December 31	1,717		$	70.47	7.3	$	26,209
Vested and expected to vest at December 31	1,649		$	70.61	7.4	$	25,320
Exercisable at December 31	848		$	70.20	6.0	$	13,689

Summary of nonvested stock awards

The following is a summary of the status of Ryder’s unvested restricted stock awards as of and for the year ended December 31, 2017:

	Time-Vested			Market-Based			Performance-Based
	Shares	Weighted- Average Grant Date Fair Value		Shares	Weighted- Average Grant Date Fair Value		Shares	Weighted- Average Grant Date Fair Value
	(In thousands)			(In thousands)			(In thousands)
Unvested stock outstanding at January 1	476	$	67.31	66	$	64.33	72	$	70.92
Granted	117	75.61		45	73.43		79	76.47
Vested (1)	(141)	78.18		(15)	61.07		(30)	75.62
Forfeited (2)	(19)	69.95		(4)	81.47		(27)	48.71
Unvested stock outstanding at December 31	433	$	65.91	92	$	68.26	94	$	78.91

(1) Includes awards attained above target.

(2) Includes awards canceled due to employee terminations or performance and market conditions not being achieved.

Schedule of weighted-average exercise price, ESPP

The following table presents the weighted-average exercise price for shares granted and exercised under the ESPP:

	Years ended December 31,
	2017		2016		2015
Stock purchase plan:
Shares granted and exercised	160,000		192,000		178,000
Weighted average exercise plan	$	66.72	$	56.17	$	63.93

Weighted-average assumptions used for options granted

The following table presents the weighted-average assumptions used for options granted:

	Years ended December 31,
	2017	2016	2015
Option plans:
Expected dividends	2.3%	3.0%	1.6%
Expected volatility	28.5%	35.2%	26.4%
Risk-free rate	1.9%	1.1%	1.4%
Expected term in years	4.4 years	4.3 years	4.3 years
Grant-date fair value	$15.71	$12.53	$18.47