XML 53 R35.htm IDEA: XBRL DOCUMENT v3.19.2
CAPITAL STOCK (Tables)
6 Months Ended
Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of weighted average valuation assumptions
The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions for options granted in the three and six months ended June 30, 2019 and 2018.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Risk-free interest rate
1.89%
 
2.76%
 
1.95%
 
2.64%
Expected lives
4.7 years
 
4.9 years
 
4.7 years
 
4.9 years
Expected volatility
40%
 
40%
 
40%
 
40%
Expected dividend yield
0%
 
0%
 
0%
 
0%
Schedule of stock options plans
A summary of our stock option plans is as follows:
 
Six Months Ended June 30,
 
Year Ended December 31,
 
2019
 
2018
 
 
 
 
Options
 
Weighted Average Exercise Price
 
 
 
 
Options
 
Weighted Average Exercise Price
Outstanding at beginning of period
620,553

 
$
40.741

 
630,847

 
$
29.312

Granted at market
11,200

 
$
73.193

 
153,700

 
$
75.244

Forfeited
(256
)
 
$
98.660

 
(18,978
)
 
$
53.010

Expired

 
$

 
(896
)
 
$
65.414

Exercised
(149,828
)
 
$
16.776

 
(144,120
)
 
$
25.740

Outstanding at end of period
481,669

 
$
48.920

 
620,553

 
$
40.741

Exercisable at end of period
305,452

 
$
33.655

 
386,176

 
$
21.214

The following table summarizes restricted stock transactions for the six months ended June 30, 2019:
 
RSAs
 
Weighted-Average Grant Date Fair Value Per Award
Non-vested as of December 31, 2018
259,430

 
$
74.26

     Granted
18,567

 
71.38

     Vested
(4,230
)
 
85.09

     Forfeited
(500
)
 
80.90

Non-vested as of June 30, 2019
273,267

 
$
73.90

Schedule of shares authorized under stock options plans by exercise price
The following table summarizes information about stock options outstanding and exercisable at June 30, 2019:
 
 
Options Outstanding
 
Options Exercisable
Exercise Prices
 
Number of
Options
Outstanding
at
June 30, 2019
 
Weighted
Average
Remaining
Contractual
Life in Years
 
Weighted
Average
Exercise
Price
 
Number of
Options
Exercisable
at
June 30, 2019
 
Weighted
Average
Exercise
Price
$ 4.96 - $ 7.36
 
93,352

 
3.65
 
$
6.998

 
93,352

 
$
6.998

$ 7.37 - $ 32.21
 
79,273

 
4.79
 
$
15.897

 
78,941

 
$
15.828

$ 32.22 - $ 62.50
 
57,533

 
6.57
 
$
39.797

 
46,524

 
$
39.724

$ 62.51 - $ 69.77
 
130,000

 
8.68
 
$
69.770

 
43,337

 
$
69.770

$ 69.78 - $ 108.25
 
121,511

 
8.10
 
$
84.684

 
43,298

 
$
80.960

$ 4.96 - $ 108.25
 
481,669

 
6.67
 
$
48.920

 
305,452

 
$
33.655

Schedule of pricing models
The weighted average assumptions used for the periods presented were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Risk-free interest rate
2.21%
 
1.09%
 
2.27%
 
1.06%
Expected lives
1.1 years
 
1.2 years
 
1.1 years
 
1.2 years
Expected volatility
39%
 
44%
 
39%
 
44%
Expected dividend yield
0%
 
0%
 
0%
 
0%