Stock-Based Compensation and Similar Arrangements (Tables)
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12 Months Ended |
Dec. 31, 2018 |
Share-based Compensation [Abstract] |
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Schedule of 2006 Plan Activity |
The following table summarizes the activity under the 2006 Plan as of December 31, 2018: | | | | | | | | | | | | | | Number of shares of the Company’s Common Stock authorized for | | Number of shares of the Company’s Common Stock remaining for | | Number of shares of the Company’s Common Stock subject to | | issuance | | future grants | | Stock Options | | Stock Grants | 2006 Plan | 5,400,000 |
| | 1,356,820 |
| | 908,588 |
| | 52,131 |
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Schedule of Stock-Based Compensation |
The following table reflects the amount of stock-based compensation, for share settled awards issued to employees and non-employee directors, recorded in each financial statement line item for the years ended December 31, 2018, 2017 and 2016: | | | | | | | | | | | | | | Year Ended December 31, | | 2018 |
| 2017 |
| 2016 | Service expense | $ | 950 |
| | $ | 434 |
| | $ | 841 |
| General and administrative expense | 8,037 |
| | 7,052 |
| | 4,324 |
| Equity in net loss (gain) of investees | 137 |
| | 76 |
| | 18 |
| (Loss) income from discontinued operations, net of tax | 6 |
| | 57 |
| | (29 | ) | Total stock-based compensation | $ | 9,130 |
| | $ | 7,619 |
| | $ | 5,154 |
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Schedule of Stock-Based Compensation Valuation Assumptions |
The fair value of each stock option awarded to employees is estimated on the date of grant using the Black-Scholes option-pricing formula based on the following assumptions for the years ended December 31, 2018 and 2017: | | | | | | | | | | Year Ended December 31, | | 2018 | | 2017 | Expected dividend yield | 0.0% | | 0.0% | Expected stock price volatility | 26.47% | — | 39.83% | | 19.5% | — | 42.95% | Risk-free interest rate | 2.26% | — | 2.91% | | 1.0% | — | 2.23% | Expected life of options (years) | 1.29 | — | 6.50 | | 0.03 | — | 6.50 |
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Stock Option Activity |
The following table summarizes the stock option activity for the year ended December 31, 2018: | | | | | | | | | | | | | | | Year ended December 31, 2018 | | Number of Shares Under Option | | Weighted- average Exercise Price | | Weighted- average Remaining Contractual Term | | Aggregate Intrinsic Value | Balance at beginning of period, January 1 | 606,695 |
| | $ | 48.70 |
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| Granted | 750,993 |
| | 66.73 |
| | | | | Exercised | (278,969 | ) | | 44.82 |
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| Forfeited/Canceled | (120,131 | ) | | 68.81 |
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| Expired | (50,000 | ) | | 61.33 |
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| Outstanding at end of period, December 31 | 908,588 |
| | $ | 61.44 |
| | 2.40 | | $ | 4,348 |
| Vested or expected to vest at end of period, December 31 | 871,651 |
| | $ | 61.01 |
| | 2.49 | | $ | 4,348 |
| Exercisable at end of period, December 31 | 263,897 |
| | $ | 50.28 |
| | 1.98 | | $ | 2,570 |
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Weighted-Average Grant Date Fair Value, Total Intrinsic Value, and Cash Received |
The weighted-average grant date fair value for options granted, total intrinsic value and cash received by the Company related to options exercised during the years ended December 31, 2018, 2017 and 2016 were as follows: | | | | | | | | | | | | | | Year ended December 31, | | 2018 | | 2017 | | 2016 | Weighted-average grant date fair value per share | $ | 15.08 |
| | $ | 9.05 |
| | $ | — |
| Options exercised: | | | | | | Total intrinsic value | $ | 6,805 |
| | $ | 2,010 |
| | $ | 979 |
| Cash received | $ | 12,413 |
| | $ | 1,921 |
| | $ | 4,108 |
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Restricted Stock Activity |
The following table summarizes the activity of the shares and weighted-average grant date fair value of the Company’s unvested restricted Common Stock during the year ended December 31, 2018: | | | | | | | | | Shares | | Weighted-average grant date fair value | | | | | Non-vested at beginning of period, January 1 | 64,779 |
| | $ | 44.82 |
| Granted | 20,242 |
| | $ | 66.07 |
| Vested | (27,894 | ) | | $ | 46.39 |
| Forfeited or cancelled | (9,799 | ) | | $ | 46.83 |
| Non-vested at end of period, December 31 | 47,328 |
| | $ | 52.56 |
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Stock Appreciation Rights Fair Value Assumptions |
The fair value of the SOEUs was estimated as of December 31, 2018, 2017 and 2016 using the Black-Scholes option-pricing formula and amortized over the option’s graded vesting periods with the following assumptions: | | | | | | | | | | | | | | Year ended December 31, | | 2018 | | 2017 | | 2016 | Expected dividend yield | 0.0% | | 0.0% | | 0.0% | Expected stock price volatility | 27.82% | — | 30.59% | | 23.36% | — | 32.09% | | 35.71% | — | 41.8% | Risk-free interest rate | 2.50% | — | 2.61% | | 1.75% | — | 1.95% | | 1.11% | — | 1.64% | Expected life of options (in years) | 0.75 | — | 1.75 | | 0.75 | — | 2.75 | | 1.00 | — | 3.00 |
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Performance Share, Fair Value Assumptions |
The fair value of the awards granted in 2016 were estimated using the following assumptions: | | | | | | Year ended December 31, 2016 | Forward interest rate | 0.24% | — | 2.71% | Expected Volatility | 40.0% | Dividend Yield | —% | Fair Value of Total Pool | $12,870 |
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