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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity
The following table summarizes stock option activity during 2017:
 
Number of Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life in Years
 
Aggregate
Intrinsic
Value
Outstanding at January 1, 2017
16,697

 
$
8.31

 
 
 
 
Granted
2,826

 
15.36

 
 
 
 
Exercised
(1,924
)
 
7.16

 
 
 
 
Forfeited and/or expired
(274
)
 
10.12

 
 
 
 
Outstanding at December 31, 2017
17,325

 
$
9.56

 
7.1
 
$
118,817

Vested or expected to vest at December 31, 2017
17,190

 
$
9.54

 
7.1
 
$
118,264

Exercisable at December 31, 2017
10,943

 
$
7.95

 
6.0
 
$
92,644
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology
The weighted average grant date fair value of stock options was determined using the following assumptions:
 
2017
 
2016
 
2015
Risk-free interest rate
1.94
%
 
1.28
%
 
1.76
%
Expected option life in years
5.62

 
5.62

 
5.62

Expected volatility
23.88
%
 
28.25
%
 
29.25
%
Expected dividend yield
1.82
%
 
2.38
%
 
2.23
%
Schedule of Nonvested Restricted Stock Units Activity
The following table summarizes activity of Restricted Shares during 2017:
 
Number of Restricted Shares
 
Weighted
Average
Grant Date Fair Value
Non-vested at January 1, 2017
1,817

 
$
9.30

Granted
560

 
15.41

Vested
(652
)
 
8.84

Forfeited
(130
)
 
10.17

Non-vested at December 31, 2017
1,595

 
$
11.36
Schedule of Share-based Payment Award, Performance Share Awards, Valuation Assumptions
The input variables are noted in the table below:
 
2017
 
2016
 
2015
Risk-free interest rate
1.44
%
 
0.82
%
 
1.00
%
Expected life in years
3.00

 
3.00

 
3.00

Expected volatility
25.06
%
 
27.03
%
 
25.56
%
Expected dividend yield (a)
0.00
%
 
0.00
%
 
0.00
%
_______________

(a)
The Monte Carlo method assumes a reinvestment of dividends.
Schedule of Nonvested Performance-based Units Activity
The following table summarizes activity of performance shares at Target during 2017:
 
Performance Condition Awards
 
Market Condition Awards
 
Shares
 
Weighted
Average
Grant Date Fair Value
 
Shares
 
Weighted
Average
Grant Date Fair Value
Non-vested at January 1, 2017
799

 
$
9.89

 
352

 
$
12.17

Granted
165

 
13.87

 
134

 
16.81

Dividend equivalent units issued (a)
11

 
—

 
12

 
—

Vested (b)
(371
)
 
9.73

 
—

 
—

Forfeited
—

 
—

 
—

 
—

Non-vested at December 31, 2017
604

 
$
11.13

 
498

 
$
13.49

_______________

(a)
Dividend equivalent units are issued in lieu of cash dividends for non-vested performance shares. There is no weighted average fair value associated with dividend equivalent units.

(b)
Excludes the vesting of an additional 37 shares, which resulted from the performance of performance condition awards exceeding Target.
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation and the related income tax benefit recognized in the Company’s consolidated statements of operations were as follows:
 
Year Ended
 
2017
 
2016
 
2015
Stock options
$
6,923

 
$
6,859

 
$
10,081

Restricted shares (a)
5,778

 
5,051

 
4,834

Performance shares:
 
 
 
 
 
Performance condition awards
1,764

 
4,681

 
888

Market condition awards
1,533

 
1,550

 
1,348

Modifications, net
4,930

 
—

 
5,805

Share-based compensation (b)
20,928

 
18,141

 
22,956

Less: Income tax benefit (b)
(4,985
)
 
(6,520
)
 
(8,380
)
Share-based compensation, net of income tax benefit
$
15,943

 
$
11,621

 
$
14,576

_______________

(a)
2017 includes $197 related to retention awards in connection with the Company’s May 2017 G&A realignment plan, which was included in “Reorganization and realignment costs.” See Note 4 for further information.

(b)
Excludes $275 of pre-tax share-based compensation and $106 of related income tax benefits for 2015, respectively, which are included in “Net income from discontinued operations.”