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Share-Based Payments (Tables)
 9 Months Ended
Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Compensation Costs Related to Share-Based Payments



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Three months ended

 

Nine months ended



September 30,

 

September 30,



 

 2016 

 

 

 2015 

 

 

 2016 

 

 

 2015 

Stock option compensation expense

$

 1,555 

 

$

 1,038 

 

$

 4,025 

 

$

 3,094 

Share unit expense:

 

 

 

 

 

 

 

 

 

 

 

Equity-classified PSUs

 

 736 

 

 

 -

 

 

 1,222 

 

 

 -

Liability-classified share units

 

 1,515 

 

 

 (12)

 

 

 8,295 

 

 

 3,907 

Employee share purchase plan -

 

 

 

 

 

 

 

 

 

 

 

employer contributions

 

 403 

 

 

 346 

 

 

 1,152 

 

 

 977 



$

 4,209 

 

$

 1,372 

 

$

 14,694 

 

$

 7,978 



Summary of Stock Option Activity



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



 

 

WA

 



Common

 

 

WA

remaining

 

 

Aggregate



shares under

 

 

exercise

contractual

 

 

intrinsic



option

price

life (in years)

value



 

 

 

 

 

 

 

 

Outstanding, December 31, 2014

 3,897,791 

 

 

 22.09 

 

 

 

 

Granted

 880,706 

 

 

 25.50 

 

 

 

 

Exercised

 (1,412,535)

 

 

 21.11 

 

 

$

 9,426 

Forfeited

 (89,884)

 

 

 23.10 

 

 

 

 



 

 

 

 

 

 

 

 

Outstanding, December 31, 2015

 3,276,078 

 

 

 23.40 

 

 

 

 

Granted

 1,268,101 

 

 

 24.34 

 

 

 

 

Exercised

 (920,798)

 

 

 22.48 

 

 

$

 7,047 

Forfeited

 (82,256)

 

 

 24.31 

 

 

 

 



 

 

 

 

 

 

 

 

Outstanding, September 30, 2016

 3,541,125 

 

$

 23.96  7.7 

 

$

 39,352 



 

 

 

 

 

 

 

 

Exercisable, September 30, 2016

 1,413,544 

 

$

 22.97  5.8 

 

$

 17,110 



Summary of Share Unit Activity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Equity-classified awards

 

Liability-classified awards



PSUs

 

PSUs (1)

 

Restricted share units

 

DSUs



 

 

WA grant

 

 

 

WA grant

 

 

 

WA grant

 

 

 

WA grant



 

 

 

date fair

 

 

 

 

date fair

 

 

 

 

date fair

 

 

 

 

date fair



Number

 

 

value

 

Number

 

 

value

 

Number

 

 

value

 

Number

 

 

value

Outstanding, December 31, 2014

 -

 

$

 -

 

 238,573 

 

$

 23.38 

 

 403,587 

 

$

 22.32 

 

 42,289 

 

$

 22.33 

Granted

 -

 

 

 -

 

 218,699 

 

 

 24.57 

 

 20,528 

 

 

 26.38 

 

 29,072 

 

 

 26.07 

Vested and settled

 -

 

 

 -

 

 (6,870)

 

 

 22.22 

 

 (28,887)

 

 

 22.53 

 

 (13,365)

 

 

 22.34 

Forfeited

 -

 

 

 -

 

 (28,817)

 

 

 23.23 

 

 (62,274)

 

 

 21.56 

 

 -

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2015

 -

 

$

 -

 

 421,585 

 

$

 24.03 

 

 332,954 

 

$

 22.70 

 

 57,996 

 

$

 24.21 

Granted

 6,593 

 

 

 30.41 

 

 255,728 

 

 

 23.25 

 

 3,836 

 

 

 27.68 

 

 13,489 

 

 

 27.66 

Transferred to (from) equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

awards on modification

 257,934 

 

 

 27.34 

 

 (257,934)

 

 

 23.86 

 

 -

 

 

 -

 

 -

 

 

 -

Vested and settled

 -

 

 

 -

 

 (68,683)

 

 

 23.08 

 

 (158,704)

 

 

 22.14 

 

 (1,847)

 

 

 25.28 

Forfeited

 (11,663)

 

 

 27.41 

 

 (38,341)

 

 

 22.69 

 

 (15,050)

 

 

 22.68 

 

 -

 

 

 -



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding, September 30, 2016

 252,864 

 

$

 27.43 

 

 312,355 

 

$

 23.90 

 

 163,036 

 

$

 23.36 

 

 69,638 

 

$

 24.85 



(1)

Liability-classified PSUs include PSUs awarded under the employee PSU plan, the sign-on grant PSU plan, and other PSUs plans in place prior to 2015 that are cash-settled and not subject to market vesting conditions.
Stock Option Plan [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock Option and Performance Share Unit Pricing Assumptions



 

 



 

 

Nine months ended September 30,

2016  2015 

Risk free interest rate

 1.1%  1.8% 

Expected dividend yield

 2.36%  2.18% 

Expected lives of the stock options

5 years

5 years

Expected volatility

 26.9%  26.4% 



Senior Executive and Employee Performance Share Unit Plans [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock Option and Performance Share Unit Pricing Assumptions



 

 

 



 

 

 

Nine months ended September 30,

 

 2016  2015 

Risk free interest rate

 

 1.2%  1.3% 

Expected dividend yield

 

 2.49%  2.17% 

Expected lives of the PSUs

 

3 years

3 years

Expected volatility

 

 29.9%  29.4% 

Average expected volatility of comparable companies

 

 37.0%  32.8% 



Sign-on Grant Performance Share Unit Plans [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock Option and Performance Share Unit Pricing Assumptions



 

 



 

 

Nine months ended September 30,

2016  2015 

Risk free interest rate

 1.0%  1.4% 

Expected dividend yield

 2.34%  2.12% 

Expected volatility

 28.2%  33.1%