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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Components of Share-Based Compensation Expense by Type of Award
The following table lists the components of share-based compensation expense by type of award.
 
 
Year Ended December 31,
 
 
2018
 
2017
 
2016
Stock options
 
$
678

 
$
1,078

 
$
687

Restricted stock
 
1,630

 
1,968

 
2,061

Performance share units
 
2,076

 
2,450

 
1,187

Change in estimate of performance share vesting (1)
 
(1,968
)
 
—

 
—

Share-based compensation expense
 
$
2,416

 
$
5,496

 
$
3,935
Weighted Average Assumptions Relevant to Determining the Fair Value at the Dates of Grant and Stock Option Modification
The following table shows the weighted average assumptions relevant to determining the fair value of stock options granted in each year.
 
 
2018
 
2017
 
2016
Expected term
 
6 years

 
6 years

 
6 years

Average risk-free interest rate
 
2.66
%
 
2.03
%
 
1.43
%
Expected dividend yield
 
1.15
%
 
1.16
%
 
2.48
%
Expected volatility
 
47.69
%
 
56.56
%
 
59.23
%
Expected forfeiture rate
 
4.00
%
 
3.00
%
 
3.00
%
Reconciliation of Option Activity
The following table summarizes stock option activity for the year ended December 31, 2018.
 
 
Number of Options
(in thousands)
 
Weighted-
Average
Exercise
Price
(per share)
 
Weighted-
Average
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic
Value
 
 
Outstanding at January 1, 2018
 
746

 
$
14.33

 
 
 
 
 
 
Granted
 
58

 
24.47

 
 
 
 
 
 
Exercised
 
(27
)
 
10.15

 
 
 
$
477

 
 
Forfeited or expired
 
(6
)
 
22.39

 
 
 
 
 
 
Outstanding at December 31, 2018
 
771

 
$
15.17

 
5.6
 
$
—

 
(1) 
Exercisable at December 31, 2018
 
625

 
$
13.63

 
4.9
 
$
—

 
(1) 

(1)
The aggregate intrinsic value is the sum of intrinsic values for each exercisable individual option grant. The intrinsic value is the amount by which the closing market price of our stock at December 31, 2018, was greater than the exercise price of any individual option grant.
Reconciliation of Restricted Stock Option Activity
The following table summarizes unvested restricted stock award activity for the year ended December 31, 2018.
 
 
Number of Unvested
Restricted
Shares
(in thousands)
 
Weighted
Average Grant
Date Fair
Value
Unvested at January 1, 2018
 
152

 
$
19.21

Granted
 
87

 
24.55

Vested
 
(93
)
 
19.69

Forfeited
 
—

 
—

Unvested at December 31, 2018
 
146

 
$
22.07
Schedule of Performance Based Awards Goals with Respect to TSR and ROIC
The following table presents the goals with respect to TSR Awards and ROIC Awards granted in 2018, 2017, and 2016.
TSR Awards:
  
Threshold Performance
(50% of Shares)
  
Target Performance
(100% of Shares)
  
Maximum Performance
(150% of Shares)
2018 grants
  
35
 
50
 
75
2017 grants
  
35
 
50
 
75
2016 grants
  
35
 
50
 
75
ROIC Awards:
 
Threshold Performance
(35% of Shares)
 
Target Performance
(100% of Shares)
 
Maximum Performance
(150% of Shares)
2018 grants
 
15.5
%
 
18.0
%
 
19.5
%
2017 grants
 
15.0
%
 
17.5
%
 
20.0
%
2016 grants
 
15.5
%
 
18.0
%
 
20.5
%
Schedule of Number of Awards Granted and Grant Date Fair Value of Each Award in Periods
The following table presents the number of awards granted and the grant date fair value of each award in the periods presented.
 
 
TSR Awards
 
ROIC Awards
Award Year
 
Number of
Shares
(in thousands)
 
Grant Date
Fair Value
(per share)
 
Number of
Shares
(in thousands)
 
Grant Date
Fair Value
(per share)
2018
 
55

 
$
24.65

 
55

 
$
24.55

2017
 
46

 
$
29.84

 
53

 
$
24.20

2016
 
101

 
$
9.38

 
101

 
$
11.31
Summary of Status of Unvested PSU Awards
The following table summarizes changes in unvested PSUs during the year ended December 31, 2018, and changes during the year then ended.
 
 
Nonvested TSR Awards
 
Nonvested ROIC Awards
 
 
Number of
Shares
(in thousands)
 
Weighted
Average
Grant Date
Fair Value
 
Number of
Shares
(in thousands)
 
Weighted
Average
Grant Date
Fair Value
Nonvested at January 1, 2018
 
130

 
$
16.60

 
136

 
$
16.27

Granted
 
55

 
24.65

 
55

 
24.55

Vested
 
—

 
—

 
—

 
—

Expired
 
(78
)
 
9.38

 
(77
)
 
11.31

Forfeited
 
(13
)
 
14.50

 
(14
)
 
14.86

Nonvested at December 31, 2018
 
94

 
$
26.84

 
100

 
$
24.39