XML 63 R39.htm IDEA: XBRL DOCUMENT v3.8.0.1
Common Stock and Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share Repurchase Activity
The following table summarizes the share repurchase activity for the year ended December 31, 2016 (in thousands, except per share data):
Number of shares repurchased
1,371

Weighted average purchase price per share
$18.21
Amount of share repurchases
$
25,000

Schedule of Restricted Stock Unit Activity
The fair value of the PSUs is remeasured at each reporting period. The following table summarizes PSU activity during year ended December 31, 2017:
 
PSUs
 
Weighted Average Grant Date Fair Value
Outstanding at January 1, 2017
90,583

 
$
19.13

Granted
159,102

 
18.82

Vested

 

Forfeited
(127,878
)
 
19.23

Outstanding at December 31, 2017
121,807

 
$
18.62

The following table summarizes RSU activity during the year ended December 31, 2017:
 
Employees
 
Directors
 
Total
RSUs outstanding at January 1, 2017
872,785

 
80,207

 
952,992

RSUs granted
444,741

 
45,528

 
490,269

Shares issued upon vesting
(286,365
)
 
(37,794
)
 
(324,159
)
RSUs canceled or forfeited(1)
(485,756
)
 
(2,112
)
 
(487,868
)
RSUs outstanding at December 31, 2017
545,405

 
85,829

 
631,234

Weighted-average per share grant date fair value
$
17.90

 
$
18.46

 
$
17.98

(1)
Pursuant to the terms of our stock unit plans, employees have the option of forfeiting stock units to cover their minimum statutory tax withholding when shares are issued. Any stock units surrendered or canceled in satisfaction of participants’ tax withholding obligations are not available for future grants under the plans.
Schedule of Stock Unit Grants and Stock Unit Expense
The following table summarizes information about our RSU grants and RSU expense during the years ended December 31, 2017, 2016 and 2015 (in thousands, except per share amounts):
 
Year Ended December 31
 
2017
 
2016
 
2015
Total intrinsic value of RSUs vested/distributed during the period
$
7,960

 
$
8,920

 
$
7,958

Weighted-average grant date fair value of RSUs granted
17.91

 
19.13

 
16.41

Tax benefit related to RSU expense
2,071

 
1,694

 
2,303

Schedule of Phantom Share Activity
The following table summarizes the phantom share activity during the year ended December 31, 2017:
 
Shares
 
Weighted-
Average Grant
Date Fair Value
Outstanding at January 1, 2017
1,361,062

 
$
17.78

Granted
823,683

 
18.14

Converted/paid
(637,751
)
 
17.05

Forfeited
(224,414
)
 
18.33

Outstanding at December 31, 2017
1,322,580

 
$
18.26

Schedule of Restricted Stock Activity
The following table summarizes restricted stock activity during the year ended December 31, 2017:
 
Shares
 
Weighted-
Average Grant
Date Fair Value
Unvested at January 1, 2017
41,750

 
$
17.61

Restricted shares granted
57,571

 
13.89

Restricted shares vested
(46,552
)
 
15.99

Unvested at December 31, 2017
52,769

 
$
14.97

Schedule of Stock Option Activity
The following table summarizes stock option activity during the year ended December 31, 2017:
 
Options
 
Weighted
Average
Exercise Price
 
Weighted
Average
Contractual Life
 
Aggregate
Intrinsic
Value
Options outstanding and exercisable at January 1, 2017
2,038,829

 
$
19.78

 
 
 
 
Forfeited and canceled(1)
(1,088,846
)
 
23.47

 
 
 
 
Exercised
(249,516
)
 
10.91

 
 
 
 
Options outstanding and exercisable at December 31, 2017(2)
700,467

 
17.21

 
1.21
 
$
158,016

(1)
Pursuant to the terms of our stock option plans, options that are forfeited or canceled may be available for future grants. Effective May 15, 2013, any stock options surrendered or canceled in satisfaction of participants' exercise proceeds or tax withholding obligation will no longer become available for future grants under the plans.
(2)
As of December 31, 2017, there were no remaining unvested stock options.
Schedule of Options Outstanding and Exercisable
The following table summarizes information about options outstanding and exercisable at December 31, 2017:
 
Options Outstanding and Exercisable
Range of
Exercise Prices
Number
Outstanding
 
Weighted-
Average
Remaining
Contractual Life (in years)
 
Weighted-
Average
Exercise Price
$8.96 to 10.44
88,451

 
3.69
 
$
9.77

12.60
69,423

 
2.06
 
12.60

13.30 to 16.98
74,044

 
1.51
 
15.09

17.36
222,184

 
1.08
 
17.36

17.48 to 21.14
23,563

 
0.61
 
18.82

21.96
221,936

 
0.04
 
21.96

24.60
866

 
0.09
 
24.60

Schedule of Additional Information on Stock Option Activity
The following table summarizes additional information regarding our stock option activity (in thousands):
 
Year Ended December 31
 
2017
 
2016
 
2015
Intrinsic value of options exercised
$
427

 
$
1,372

 
$
336

Fair value of shares vested

 

 
453

Tax benefit related to stock option expense

 

 
34

Schedule of Share-Based Compensation Expense Recognized
The following table summarizes the share-based compensation expense related to equity-based awards recognized during the years ended December 31, 2017, 2016 and 2015 (in thousands):
 
Year Ended December 31
 
2017
 
2016
 
2015
Stock options
$

 
$

 
$
88

RSUs
5,969

 
11,053

 
8,407

PSUs
(2,395
)
(1) 
3,601

 

Phantom shares
7,447

  
15,176

 
7,882

Total
$
11,021

  
$
29,830

 
$
16,377


(1)
The net credit to PSU expense for the year ended December 31, 2017 is primarily the result of lower expected performance (relative to the established performance metric) associated with the 2017 tranche of these awards and reflects the impact of a mark-to-market adjustment with respect to PSUs granted to certain former executives which will be cash settled following the completion of the performance period based on our stock price.