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Share-Based Payments (Tables)
 3 Months Ended
Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Compensation Costs Related to Share-Based Payments



 

 

 

 

 



 

 

 

 

 

Three months ended March 31,

 

 2018 

 

 

 2017 

Stock option compensation expense:

 

 

 

 

 

SG&A expenses

$

 2,148 

 

$

 1,311 

Acquisition-related costs

 

 195 

 

 

 -

Share unit expense (recovery):

 

 

 

 

 

Equity-classified share units

 

 3,035 

 

 

 1,012 

Liability-classified share units

 

 1,599 

 

 

 (407)

Employee share purchase plan -

 

 

 

 

 

employer contributions

 

 537 

 

 

 436 



$

 7,514 

 

$

 2,352 



Summary of Stock Option Activity

y

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

WA

 



Common

 

 

WA

remaining

 

 

Aggregate



shares under

 

 

exercise

contractual

 

 

intrinsic



option

price

life (in years)

value

Outstanding, December 31, 2017

 4,459,744 

 

$

 24.29  7.5 

 

$

 17,649 

Granted

 889,169 

 

 

 32.16 

 

 

 

 

Exercised

 (202,112)

 

 

 21.34 

 

 

$

 2,215 

Forfeited

 (19,662)

 

 

 22.25 

 

 

 

 

Outstanding, March 31, 2018

 5,127,139 

 

$

 25.78  7.7 

 

$

 30,313 

Exercisable, March 31, 2018

 2,675,935 

 

$

 24.13  6.7 

 

$

 19,839 



Summary of Share Unit Activity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



Equity-classified awards

 

Liability-classified awards



PSUs

 

RSUs

 

PSUs

 

RSUs

 

DSUs



 

WA grant

 

 

WA grant

 

 

WA grant

 

 

WA grant

 

 

WA grant



 

 

date fair

 

 

 

date fair

 

 

 

date fair

 

 

 

date fair

 

 

 

date fair



Number

 

value

 

Number

 

value

 

Number

 

value

 

Number

 

value

 

Number

 

value



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2017

 434,248 

$

 27.83 

 

 125,152 

$

 26.93 

 

 259,241 

$

 26.38 

 

 4,666 

$

 26.42 

 

 93,487 

$

 26.32 

Granted

 223,484 

 

 31.37 

 

 88,120 

 

 31.98 

 

 -

 

 -

 

 25 

 

 32.26 

 

 5,475 

 

 32.05 

Transferred to (from) equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

awards on modification

 257,659 

 

 31.30 

 

 -

 

 -

 

 (257,659)

 

 26.38 

 

 -

 

 -

 

 -

 

 -

Forfeited

 (15,519)

 

 31.28 

 

 -

 

 -

 

 (1,582)

 

 26.45 

 

 -

 

 -

 

 -

 

 -

Outstanding, March 31, 2018 (1)

 899,872 

$

 30.87 

 

 213,272 

$

 29.02 

 

 -

$

 -

 

 4,691 

$

 26.45 

 

 98,962 

$

 26.64 

(1)

Included in this total are 184,329 equity-classified PSUs that were vested but not settled at March 31, 2018. These vested share units had WA grant date fair values of $31.99 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,

2018  2017 

Risk free interest rate

 2.7%  2.1% 

Expected dividend yield

 2.11%  2.05% 

Expected lives of the stock options

5 years

5 years

Expected volatility

 28.1%  27.9% 



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,

 

 2018  2017 

Risk free interest rate

 

 1.9%  1.4% 

Expected dividend yield

 

 2.09%  1.92% 

Expected lives of the PSUs

 

3 years

3 years

Expected volatility

 

 31.1%  28.2% 

Average expected volatility of comparable companies

 

 34.1%  37.0%