XML 51 R40.htm IDEA: XBRL DOCUMENT v3.10.0.1
Equity Incentive Program (Tables)
 9 Months Ended
Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Stock-based incentive plans compensation expense
Stock-based compensation is reported within selling, general and administrative expenses of continuing operations in the Condensed Consolidated Statements of Earnings. The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Pre-tax stock-based compensation expense (continuing)
$
5,443

 
$
3,670

 
$
15,846

 
$
19,878

Tax benefit
(1,207
)
 
(1,207
)
 
(3,520
)
 
(6,953
)
Total stock-based compensation expense, net of tax
$
4,236

 
$
2,463

 
$
12,326

 
$
12,925



Stock-based compensation expense attributable to Apergy employees for the three months ended September 30, 2018 and 2017 was $0 and $671, respectively. For the nine months ended September 30, 2018 and 2017, stock-based compensation expense attributable to Apergy employees was $744 and $1,932, respectively. These costs are reported within earnings from discontinued operations in the Condensed Consolidated Statement of Earnings.
Stock Appreciation Rights (SARs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Valuation assumptions
The range of assumptions used in determining the fair value of the SARs awarded during the respective periods were as follows:
 
SARs
 
2018
 
2017
Risk-free interest rate
2.58
%
-
2.87%
 
1.80
%
Dividend yield
1.99
%
-
2.43%
 
2.27
%
Expected life (years)
5.6

-
5.7
 
4.6

Volatility
20.95
%
-
21.20%
 
21.90
%
 
 
 
 
 
 
Grant price (1)
$79.75
-
$82.08
 
$66.84
Fair value per share at date of grant (1)
$14.58
-
$15.41
 
$10.65

(1) Updated to reflect the modification of grants in connection with the separation of Apergy on May 9, 2018.
Performance Shares [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Valuation assumptions
The fair value and average attainment used in determining stock-based compensation cost for the performance shares issued in 2018 and 2017 is as follows for the nine months ended September 30, 2018:
 
Performance shares
 
2018
 
2017
Fair value per share at date of grant (1)
$79.75
-
$82.08
 
$66.84
Average attainment rate reflected in expense
206.59%
 
185.07
%
(1) Updated to reflect the modification of grants in connection with the separation of Apergy on May 9, 2018.