XML 48 R34.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stock-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2018
Summary of Stock Option Activity
A summary of stock option activity under the various stock incentive plans previously described is as follows:
 
Stock Options
 
Number of 

Shares
 
 
Weighted- 

Average 

Exercise 

Price ($)
 
 
Weighted- 

Average 

Remaining 

Contractual 

Term
 
(Years)
 
 
Aggregate
 
Intrinsic 

Value of 

In-the-Money 

Options ($)
 
Outstanding, December 31, 2017
 
 
6,162,717
 
 
$
16.83
 
 
 
 
 
 
 
 
 
Granted
 
 
170,455
 
 
 
23.36
 
 
 
 
 
 
 
 
 
Exercised
 
 
(1,379,704
)
 
 
14.26
 
 
 
 
 
 
 
 
 
Forfeited
 
 
(88,632
)
 
 
18.56
 
 
 
 
 
 
 
 
 
Outstanding, December 31, 2018
 
 
4,864,836
 
 
$
17.76
 
 
 
6.09
 
 
$
48,214,530
 
Exercisable, December 31, 2018
 
 
3,416,715
 
 
$
17.04
 
 
 
5.43
 
 
$
36,309,807
 
Summary of Nonvested Restricted Share Awards
A summary of nonvested RSAs are as follows:
 
Nonvested Restricted Share Awards
 
Number of 
Shares
 
 
Weighted-
Average 
Grant Date 
Fair Value
 
Nonvested at December 31, 2017
 
 
503,237
 
 
$
20.63
 
Vested
 
 
(231,473
)
 
 
21.20
 
Forfeited
 
 
(58,427
)
 
 
19.92
 
Nonvested at December 31, 2018
 
 
213,337
 
 
$
20.21
 
Black-Scholes Option-Pricing Model [Member]  
Summary of Grant Date Fair Value Weighted-Average Assumptions, Options
The fair value of options granted in the respective fiscal years are estimated on the date of grant using the Black-Scholes option-pricing model, acceptable under ASC 718, with the following weighted-average assumptions:
 
 
 
Years Ended December 31,
 
 
 
2018
 
 
2017
 
 
2016
 
Expected life (years)
 
 
5.6
 
 
 
5.6
 
 
 
5.9
 
Risk-free interest rate
 
 
2.7
%
 
 
1.9
%
 
 
1.2
%
Expected volatility
 
 
26.4
%
 
 
29.4
%
 
 
29.7
%
Expected dividend yield
 
 
—
 
 
 
—
 
 
 
—
 
Monte Carlo Simulation Model [Member]  
Summary of Grant Date Fair Value Weighted-Average Assumptions, Options With respect to supplemental stock options granted that vest based on the achievement of certain market conditions, the grant date fair value was estimated using a Monte Carlo simulation model with the following weighted-average assumptions:
 
 
 
 
Year Ended
 
 
 
December 31, 2016
 
Expected life (years)
 
 
7.5
 
Risk-free interest rate
 
 
1.6
%
Expected volatility
 
 
41.6
%
Expected dividend yield
 
 
—
 
LTIP Performance Shares [Member]  
Summary of Nonvested Performance Award Activity
A summary of the nonvested LTIP performance shares are as follows:
 
Nonvested LTIP Performance Shares
 
Number of 
Shares at 
Expected 

Attainment
 
 
Weighted-
Average 
Grant Date 

Fair Value
 
Nonvested at December 31, 2017
 
 
1,125,035
 
 
$
18.94
 
Forfeited
 
 
(93,147
)
 
 
19.26
 
Change in expected attainment for 2016 grants
 
 
(491,191
) 
 
 
17.91
 
Nonvested at December 31, 2018
 
 
540,697
 
 
$
19.83
 
Total Shareholder Return Awards (TSRs) [Member]  
Summary of Nonvested Performance Award Activity
 
A summary of nonvested TSRs are as follows:
 
Nonvested Total Shareholder Return Awards
 
Number of 
Shares at 

Expected
 
Attainment
 
 
Weighted- 

Average
Grant  
Date
Fair 
Value
 
Nonvested as of December 31, 2017
 
 
143,649
 
 
$
24.37
 
Granted
 
 
541,214
 
 
 
31.31
 
Forfeited
 
 
(42,855
)
 
 
30.19
 
Change in attainment
 
 
76,923
 
 
 
24.37
 
Nonvested as of December 31, 2018
 
 
718,931
 
 
$
29.25
 
Total Shareholder Return Awards (TSRs) [Member] | Monte Carlo Simulation Model [Member]  
Summary of Nonvested Performance Award Activity
The grant date fair value of the TSRs was estimated using the following weighted-average assumptions:
 
 
 
Years Ended December 31,
 
 
 
2018
 
 
2017
 
Expected life (years)
 
 
2.9
 
 
 
2.9
 
Interest rate
 
 
2.4
%
 
 
1.5
%
Volatility
 
 
28.0
%
 
 
26.5
%
Dividend Yield
 
 
—
 
 
 
—
 
Performance-Based Restricted Share Awards (PBRSAs) [Member]  
Summary of Nonvested Performance Award Activity
 
Nonvested Performance-Based Restricted Share Awards
 
Number 
of
Shares
 
 
Weighted-
Average
Grant 
Date
Fair Value
 
Nonvested as of December 31, 2017
 
 
173,636
 
 
$
24.41
 
Vested
 
 
(173,636
)
 
 
24.41
 
Nonvested as of December 31, 2018
 
 
—
 
 
$
—
 
Restricted Share Units (RSUs) [Member]  
Summary of Nonvested Restricted Share Unit Activity
A summary of nonvested RSUs are as follows:
 
Nonvested Restricted Share Units
 
Number 
of
Shares
 
 
Weighted-
Average
Grant 
Date
Fair 
Value
 
Nonvested as of December 31, 2017
 
 
—
 
 
$
—
 
Granted
 
 
714,123
 
 
 
23.81
 
Vested
 
 
(10,000
)
 
 
25.72
 
Forfeited
 
 
(53,078
)
 
 
23.36
 
Nonvested as of December 31, 2018
 
 
651,045
 
 
$
23.82