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Share-Based Payments (Tables)
 3 Months Ended
Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Compensation Costs Related to Share-Based Payments



 

 

 

 

 

 



 

 

 

 

 

 

Three months ended March 31,

 

 2017 

 

 

 2016 

 

Stock option compensation expense

$

 1,311 

 

 

 1,070 

 

Share unit expense:

 

 

 

 

 

 

Equity-classified PSUs

 

 1,012 

 

 

 -

 

Liability-classified share units

 

 (407)

 

 

 1,272 

 

Employee share purchase plan -

 

 

 

 

 

 

employer contributions

 

 436 

 

 

 353 

 



$

 2,352 

 

$

 2,695 

 



Summary of Stock Option Activity



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



 

 

WA

 



Common

 

 

WA

remaining

 

 

Aggregate



shares under

 

 

exercise

contractual

 

 

intrinsic



option

price

life (in years)

value



 

 

 

 

 

 

 

 

Outstanding, December 31, 2016

 3,366,714 

 

$

 24.02  7.5 

 

$

 33,601 

Granted

 757,898 

 

 

 32.16 

 

 

 

 

Exercised

 (132,950)

 

 

 25.67 

 

 

$

 913 

Forfeited

 (3,188)

 

 

 24.19 

 

 

 

 

Outstanding, March 31, 2017

 3,988,474 

 

$

 25.51  7.8 

 

$

 29,468 

Exercisable, March 31, 2017

 1,869,010 

 

$

 23.36  6.4 

 

$

 17,823 



Summary of Share Unit Activity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Equity-classified awards

 

Liability-classified awards



PSUs

 

PSUs (1)

 

Restricted share units ("RSUs")

 

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, 2016

 243,968 

 

$

 27.48 

 

 311,329 

 

$

 23.96 

 

 160,009 

 

$

 23.37 

 

 73,520 

 

$

 25.41 

Granted

 92,934 

 

 

 31.68 

 

 86,162 

 

 

 31.69 

 

 749 

 

 

 32.76 

 

 4,202 

 

 

 32.77 

Vested and settled (2)

 -

 

 

 -

 

 -

 

 

 -

 

 -

 

 

 -

 

 -

 

 

 

Forfeited

 -

 

 

 -

 

 (1,062)

 

 

 23.28 

 

 -

 

 

 -

 

 -

 

 

 -

Outstanding, March 31, 2017

 336,902 

 

$

 28.64 

 

 396,429 

 

$

 25.64 

 

 160,758 

 

$

 23.41 

 

 77,722 

 

$

 25.81 



(1)

Liability-classified PSUs include PSUs awarded under the employee PSU plan and the previous 2013 PSU plan, in place prior to 2015 that are cash-settled and not subject to market vesting conditions.

(2)

Included in this total are 49,871 liability-classified PSUs and 151,589 RSUs that were vested but not settled at March 31, 2017. These vested share units had WA grant date fair values of $23.78 and $23.38 respectively.

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



 

 



 

 

Three months ended March 31,

2017  2016 

Risk free interest rate

 2.1%  1.2% 

Expected dividend yield

 2.05%  2.68% 

Expected lives of the stock options

5 years

5 years

Expected volatility

 27.9%  26.5% 



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



 

 

 



 

 

 

Three months ended March 31,

 

 2017  2016 

Risk free interest rate

 

 1.4%  1.2% 

Expected dividend yield

 

 1.92%  2.49% 

Expected lives of the PSUs

 

3 years

3 years

Expected volatility

 

 28.2%  29.9% 

Average expected volatility of comparable companies

 

 37.0%  37.0% 



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



 

 



 

 

Three months ended March 31,

2017  2016 

Risk free interest rate

 1.7%  1.0% 

Expected dividend yield

 2.37%  2.69% 

Expected volatility

 28.6%  27.9%