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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2018
Share-based compensation  
Schedule of exercise prices for stock options outstanding and exercisable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Outstanding

 

Options Exercisable

 

 

 

 

 

 

    

Number
Outstanding
as of
December 31, 2018

    

Weighted-
Average
Remaining
Contractual
Life

    

Weighted-
Average
Exercise
Price 

    

Number
Exercisable
as of
December 31, 2018

    

Weighted-
Average
Remaining
Contractual
Life

    

Weighted-
Average
Exercise
Price 

 

$

 —

-

$

10.00

 

18,800

 

0.25

 

$

6.34

 

18,800

 

0.25

 

$

6.34

 

$

10.01

-

$

20.00

 

621,537

 

1.49

 

$

15.37

 

21,537

 

1.33

 

$

15.07

 

$

20.01

-

$

30.00

 

1,284,883

 

2.73

 

$

27.61

 

744,883

 

2.72

 

$

27.40

 

$

30.01

-

$

40.00

 

6,683,886

 

8.73

 

$

35.78

 

223,131

 

3.71

 

$

34.83

 

$

40.01

-

$

50.00

 

1,765,405

 

8.52

 

$

47.49

 

143,700

 

6.54

 

$

46.54

 

$

50.01

-

$

60.00

 

2,456,378

 

7.34

 

$

57.54

 

343,752

 

6.01

 

$

57.05

 

$

60.01

-

$

70.00

 

1,351,150

 

7.38

 

$

64.17

 

265,350

 

6.23

 

$

65.47

 

$

70.01

-

$

80.00

 

20,000

 

1.00

 

$

72.89

 

20,000

 

1.00

 

$

72.89

 

$

 —

-

$

80.00

 

14,202,039

 

7.45

 

$

42.08

 

1,781,153

 

4.25

 

$

41.41

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of stock option activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

 

2018

 

2017

 

2016

 

 

    

Options

    

Weighted-
Average
Exercise
Price

    

Options

    

Weighted-
Average
Exercise
Price

    

Options

    

Weighted-
Average
Exercise
Price

 

Total options outstanding, beginning of period

 

8,847,734

 

$

43.90

 

7,923,009

 

$

36.21

 

6,845,685

 

$

31.13

 

Granted

    

7,494,012

 

$

38.41

 

3,468,626

 

$

59.66

 

1,901,000

 

$

54.41

 

Exercised

 

(267,905)

 

$

16.43

 

(514,401)

 

$

28.70

 

(431,092)

 

$

23.36

 

Forfeited and cancelled

 

(1,871,802)

 

$

39.67

 

(2,029,500)

 

$

44.64

 

(392,584)

 

$

50.03

 

Total options outstanding, end of period

 

14,202,039

 

$

42.08

 

8,847,734

 

$

43.90

 

7,923,009

 

$

36.21

 

Performance based options outstanding, end of period (1)

 

8,969,886

 

$

40.34

 

5,490,626

 

$

42.81

 

4,312,000

 

$

31.39

 

Exercisable at end of period

 

1,781,153

 

$

41.41

 

1,772,608

 

$

35.13

 

1,892,809

 

$

29.97

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

These stock options are included in the caption “Total options outstanding, end of period.”  See discussion of the 2008 LTIP, 2013 LTIP, 2017 LTIP, 2019 LTIP and Other Employee Performance Awards below.

 

Schedule of realized tax benefits from stock awards exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

    

2018

    

2017

    

2016

 

 

 

(In thousands)

 

Tax benefit from stock awards exercised

 

$

1,664

 

$

9,347

 

$

5,006

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of aggregate intrinsic value of stock options outstanding and exercisable

 

 

 

 

 

 

 

 

 

 

As of December 31, 2018

 

 

    

Options
Outstanding

    

Options
Exercisable

 

 

 

(In thousands)

 

Aggregate intrinsic value

 

$

6,511

 

$

757

 

 

 

 

 

 

 

 

 

 

Schedule of restricted stock unit activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

 

2018

 

2017

 

2016

 

 

    

Restricted
Stock
Units/Awards

    

Weighted-
Average
Grant Date
Fair Value

    

Restricted
Stock
Units/Awards

    

Weighted-
Average
Grant Date
Fair Value

    

Restricted
Stock
Units/Awards

    

Weighted-
Average
Grant Date
Fair Value

 

Total restricted stock units/awards outstanding, beginning of period

    

2,484,720

 

$

51.16

 

1,336,000

 

$

32.11

 

1,382,250

 

$

32.01

 

Granted

 

 —

 

$

 —

 

1,871,375

 

$

63.87

 

67,060

 

$

56.35

 

Vested

 

(11,935)

 

$

63.49

 

(14,845)

 

$

62.58

 

(60)

 

$

49.15

 

Forfeited and cancelled

 

(712,560)

 

$

48.51

 

(707,810)

 

$

48.59

 

(113,250)

 

$

45.12

 

Total restricted stock units/awards outstanding, end of period

 

1,760,225

 

$

52.15

 

2,484,720

 

$

51.16

 

1,336,000

 

$

32.11

 

Restricted Performance Units/Awards outstanding, end of period (1)

 

1,726,250

 

$

51.92

 

2,435,500

 

$

50.91

 

1,336,000

 

$

32.11

 

 

(1)

These stock units/awards are included in the caption “Total restricted stock units/awards outstanding, end of period.”  See discussion of the 2008 LTIP, 2013 LTIP, 2017 LTIP, 2019 LTIP and Other Employee Performance Awards below.

Schedule of non-cash, stock-based compensation expense recognized

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

Non-Cash, Stock-Based Compensation Expense Recognized

    

2018

    

2017

    

2016

 

 

 

(In thousands)

 

2019 LTIP

 

$

3,534

 

$

 —

 

$

 —

 

2017 LTIP

 

 

3,334

 

 

10,640

 

 

 —

 

2013 LTIP (1)

 

 

(2,471)

 

 

(321)

 

 

2,565

 

Other employee performance awards

 

 

17,945

 

 

7,549

 

 

1,424

 

Total non-cash, stock-based compensation expense recognized for performance based awards

 

$

22,342

 

$

17,868

 

$

3,989

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of awards outstanding pursuant to performance-based stock incentive plans

 

 

 

 

 

 

 

 

 

 

As of December 31, 2018

 

Performance Based Stock Options

    

Number of
Awards

    

Weighted-
Average
Grant Price

 

2019 LTIP

 

4,296,000

 

$

35.42

 

2017 LTIP

 

2,512,386

 

$

56.99

 

2013 LTIP

 

1,021,500

 

$

41.35

 

Other employee performance awards

 

1,140,000

 

$

21.31

 

Total

 

8,969,886

 

$

40.34

 

 

 

 

 

 

 

 

Restricted Performance Units/Awards

    

 

 

 

 

 

2013 LTIP

 

510,750

 

 

 

 

Other employee performance awards

 

1,215,500

 

 

 

 

Total

 

1,726,250

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of allocated non-cash, stock-based compensation expense for all employees

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

    

2018

    

2017

    

2016

 

 

 

(In thousands)

 

Subscriber-related

 

$

1,150

 

$

1,562

 

$

694

 

Satellite and transmission

 

 

262

 

 

1,761

 

 

 —

 

General and administrative

 

 

34,849

 

 

26,618

 

 

12,343

 

Total non-cash, stock-based compensation

 

$

36,261

 

$

29,941

 

$

13,037

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of assumptions of Black-Scholes option valuation model

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

Stock Options

    

2018

    

 

2017

    

 

2016

 

 

Risk-free interest rate

 

 

2.09

%  

-

 

2.98

%  

 

 

1.34

%  

-

 

2.29

%  

 

 

1.06

%  

-

 

2.27

%  

 

Volatility factor

 

 

23.33

%  

-

 

30.22

%  

 

 

22.25

%  

-

 

26.15

%  

 

 

26.12

%  

-

 

33.37

%  

 

Expected term of options in years

 

 

2.8

 

-

 

5.5

 

 

 

3.8

 

-

 

5.5

 

 

 

5.4

 

-

 

10.0

 

 

Fair value of options granted

 

$

7.10

 

-

$

12.53

 

 

$

11.95

 

-

$

16.69

 

 

$

12.45

 

-

$

26.86

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LTIP 2017, LTIP 2013 and Other  
Share-based compensation  
Schedule of unrecognized non-cash, stock-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated Remaining Non-Cash, Stock-Based Compensation Expense

 

2019 LTIP

 

2017 LTIP

    

2013 LTIP

    

Other
Employee
Performance
Awards

 

 

 

(In thousands)

 

Expense estimated to be recognized during 2019

 

$

14,122

 

$

 —

 

$

 —

 

$

17,946

 

Estimated contingent expense subsequent to 2019

 

 

26,410

 

 

20,910

 

 

34,342

 

 

64,313

 

Total estimated remaining expense over the term of the plan

 

$

40,532

 

$

20,910

 

$

34,342

 

$

82,259