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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Stock-Based Compensation  
Schedule of exercise prices for stock options outstanding and exercisable associated with employees

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Outstanding

 

Options Exercisable

 

 

 

    

 

 

    

Number
Outstanding
as of
December 31,
2016

    

Weighted-
Average
Remaining
Contractual
Life

    

Weighted-
Average
Exercise
Price

    

Number
Exercisable
as of
December 31,
2016

    

Weighted-
Average
Remaining
Contractual
Life

    

Weighted-
Average
Exercise
Price

 

$

 —

-

$

10.00

 

207,400

 

1.51

 

$

6.34

 

207,400

 

1.51

 

$

6.35

 

$

10.01

-

$

20.00

 

1,885,085

 

3.47

 

$

15.44

 

85,085

 

2.94

 

$

16.73

 

$

20.01

-

$

30.00

 

1,617,876

 

4.41

 

$

26.64

 

1,067,876

 

4.22

 

$

25.98

 

$

30.01

-

$

40.00

 

1,426,222

 

5.88

 

$

36.11

 

257,822

 

5.40

 

$

34.96

 

$

40.01

-

$

50.00

 

428,900

 

9.08

 

$

46.22

 

7,800

 

2.03

 

$

42.84

 

$

50.01

-

$

60.00

 

1,532,000

 

8.53

 

$

56.98

 

48,500

 

4.00

 

$

57.58

 

$

60.01

-

$

70.00

 

796,250

 

7.11

 

$

66.56

 

189,050

 

7.16

 

$

65.51

 

$

70.01

-

$

80.00

 

20,000

 

3.00

 

$

72.89

 

20,000

 

3.00

 

$

72.89

 

$

 —

-

$

80.00

 

7,913,733

 

5.69

 

$

36.22

 

1,883,533

 

4.29

 

$

29.98

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of stock option activity associated with employees

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

 

2016

 

2015

 

2014

 

 

    

Options

    

Weighted- Average Exercise Price

    

Options

    

Weighted- Average Exercise Price

    

Options

    

Weighted- Average Exercise Price

 

Total options outstanding, beginning of period

    

6,807,169

 

$

31.17

 

10,214,344

 

$

25.29

 

11,938,090

 

$

22.49

 

Granted

 

1,901,000

 

$

54.41

 

452,000

 

$

69.11

 

667,750

 

$

63.23

 

Exercised

 

(403,834)

 

$

23.26

 

(1,731,975)

 

$

16.26

 

(2,233,496)

 

$

20.49

 

Forfeited and cancelled

 

(390,602)

 

$

50.28

 

(2,127,200)

 

$

23.12

 

(158,000)

 

$

41.84

 

Total options outstanding, end of period

 

7,913,733

 

$

36.22

 

6,807,169

 

$

31.17

 

10,214,344

 

$

25.29

 

Performance-based options outstanding, end of period (1)

 

4,312,000

 

$

31.39

 

3,904,500

 

$

28.03

 

5,926,500

 

$

25.15

 

Exercisable at end of period

 

1,883,533

 

$

29.98

 

1,927,069

 

$

26.87

 

3,107,544

 

$

19.81

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

These stock options are included in the caption “Total options outstanding, end of period.”  See discussion of the 2005 LTIP, 2008 LTIP, 2013 LTIP and Other Employee Performance Awards below.

Schedule of realized tax benefits from stock awards exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

    

2016

    

2015

    

2014

  

 

 

(In thousands)

 

Tax benefit from stock awards exercised

 

$

5,006

 

$

33,716

 

$

42,334

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of aggregate intrinsic value of stock options associated with employees

 

 

 

 

 

 

 

 

 

 

As of December 31, 2016

 

 

 

Options

 

Options

 

 

    

Outstanding

    

Exercisable

  

 

 

(In thousands)

 

Aggregate intrinsic value

 

$

179,033

 

$

54,382

 

 

 

 

 

 

 

 

 

 

Schedule of restricted stock unit activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

 

2016

 

2015

 

2014

 

 

    

Restricted
Stock
Awards

    

 

Weighted- Average Grant Date Fair Value

    

Restricted
Stock
Awards

    

 

Weighted- Average Grant Date Fair Value

    

Restricted
Stock
Awards

    

 

Weighted- Average Grant Date Fair Value

  

Total restricted stock units outstanding, beginning of period

 

1,382,250

 

$

32.01

 

1,731,332

 

$

32.60

 

1,863,165

 

$

29.27

 

Granted

 

67,060

 

$

56.35

 

62,530

 

$

68.79

 

316,500

 

$

63.57

 

Vested

 

(60)

 

$

49.15

 

(125,280)

 

$

63.92

 

(278,000)

 

$

45.04

 

Forfeited and cancelled

 

(113,250)

 

$

45.12

 

(286,332)

 

$

29.67

 

(170,333)

 

$

33.43

 

Total restricted stock units outstanding, end of period (1)

 

1,336,000

 

$

32.11

 

1,382,250

 

$

32.01

 

1,731,332

 

$

32.60

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

All restricted stock units outstanding are Restricted Performance Units.  See discussion of the 2005 LTIP, 2008 LTIP, 2013 LTIP and Other Employee Performance Awards below.

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

 

 

 

 

 

 

 

 

 

As of December 31, 2016

 

Performance-Based Stock Options

    

Number of
Awards

    

Weighted-
Average
Grant
Price

  

2013 LTIP

 

1,472,000

 

$

43.50

 

Other employee performance awards

 

2,840,000

 

$

25.12

 

Total

 

4,312,000

 

$

31.39

 

 

 

 

 

 

 

 

Restricted Performance Units

 

 

 

 

 

 

2013 LTIP

 

736,000

 

 

 

 

Other employee performance awards

 

600,000

 

 

 

 

Total

 

1,336,000

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

    

2016

    

2015

    

2014

  

 

 

(In thousands)

 

Subscriber-related

 

$

694

 

$

2,164

 

$

1,859

 

General and administrative

 

 

12,343

 

 

17,035

 

 

32,165

 

Total non-cash, stock based compensation

 

$

13,037

 

$

19,199

 

$

34,024

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of assumptions of Black-Scholes option valuation model

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

Stock Options

    

2016

    

2015

    

2014

  

Risk-free interest rate

 

 

1.06

%  

 - 

 

2.27

%  

 

 

1.40

%  

 - 

 

2.19

%  

 

 

1.80

%  

 - 

 

2.84

%

 

Volatility factor

 

 

26.12

%  

 - 

 

33.37

%  

 

 

26.42

%  

 - 

 

36.22

%  

 

 

28.53

%  

 - 

 

38.62

%

 

Expected term of options in years

 

 

5.4

 

 - 

 

10.0

 

 

 

5.5

 

 - 

 

7.8

 

 

 

5.5

 

 - 

 

9.0

 

 

Weighted-average fair value of options granted

 

$

12.45

 

 - 

$

26.86

 

 

$

16.14

 

 - 

$

29.73

 

 

$

19.08

 

 - 

$

29.20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LTIP 2008, LTIP 2013 and Other  
Stock-Based Compensation  
Schedule of non-cash, stock-based compensation expense recognized

 

 

For the Years Ended December 31,

 

Non-Cash, Stock-Based Compensation Expense Recognized

    

2016

    

2015

    

2014

  

 

 

(In thousands)

 

2013 LTIP

 

$

2,565

 

$

10,157

 

$

12,361

 

Other employee performance awards

 

 

1,424

 

 

1,694

 

 

14,095

 

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

 

$

3,989

 

$

11,851

 

$

26,456

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated Remaining Non-Cash, Stock-Based Compensation Expense

 

2013 LTIP

    

Other Employee Performance Awards

 

 

(In thousands)

 

 

 

 

Expense estimated to be recognized during 2017

 

$

7,067

 

$

1,070

Estimated contingent expense subsequent to 2017

 

 

40,469

 

 

134,580

Total estimated remaining expense over the term of the plan

 

$

47,536

 

$

135,650