XML 43 R46.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Stock Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The assumptions used for grants in the years ended December 31, 2019, 2018 and 2017 were as follows:

 
2019
 
2018
 
2017
Risk-free interest rate
2.5% - 2.7%

 
2.7% - 2.9%

 
2.1% - 2.4%

Expected volatility
20.24% - 20.45%

 
19.02% - 21.05%

 
18.88% - 21.62%

Dividend yield
0.0
%
 
0.0
%
 
0.0
%
Expected holding period
4.00 – 10.00 years
 
5.00 – 10.00 years
 
6.00 – 10.00 years

Weighted-average grant date fair value (1)
$2.36 - $4.08

 
$4.62 - $7.58

 
$5.39 - $8.17


_____________________________
(1) Per share amounts have not been adjusted to give effect to the stock dividends in 2019, 2018 and 2017.

Schedule of Share-based Compensation, Stock Options, Activity
A summary of employee stock option transactions follows:

 
Number of
Shares
 
Weighted-Average
Exercise Price
 
Weighted-Average
Remaining
Contractual Term
(Years)
 
Aggregate
Intrinsic
Value(1)
Outstanding on January 1, 2017
4,985,059

 
$
12.10

 
5.3
 
$
37,557

Granted
448,580

 
$
19.70

 
 
 
 

Exercised
—

 
$
—

 
 
 
 

Canceled
(13
)
 
$
—

 
 
 
 

Outstanding on December 31, 2017
5,433,626

 
$
12.74

 
4.7
 
$
41,069

Granted
427,219

 
$
18.42

 
 
 
 

Exercised
—

 
$
—

 
 
 
 

Canceled
(12
)
 
$
—

 
 
 
 

Outstanding on December 31, 2018
5,860,833

 
$
13.16

 
4.1
 
$
1,095

Granted
406,875

 
$
10.92

 
 
 
 

Exercised
(1,824,351
)
 
$
8.67

 
 
 
 

Canceled
(11
)
 
$
—

 
 
 
 
Outstanding on December 31, 2019
4,443,346

 
$
14.80

 
5.0
 
$
4,427

Options exercisable at:
 

 
 

 
 
 
 

December 31, 2017
3,500,201

 
 

 
 
 
 

December 31, 2018
4,019,477

 
 

 
 
 
 

December 31, 2019
2,689,673

 
 

 
 
 
 

_____________________________
(1) 
The aggregate intrinsic value represents the amount by which the fair value of the underlying common stock ($13.39, $9.27 and $20.30 at December 31, 2019, 2018 and 2017, respectively) exceeds the option exercise price.
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range
Additional information relating to options outstanding at December 31, 2019 follows:
 
 
 
 
Options Outstanding
 
Options Exercisable
 
 
Range of Exercise Prices
 
Outstanding
as of
 
Weighted-Average
Remaining
Contractual Life
(Years)
 
Weighted-Average
Exercise Price
 
Exercisable
as of
 
Weighted-Average
Remaining
Contractual Life
(Years)
 
Weighted-Average
Exercise Price
 
Aggregate Intrinsic Value
 
12/31/2019
 
 
 
12/31/2019
 
 
 
$9.86
-
$11.83
 
2,082,717

 
3.7
 
$
11.26

 
1,675,842

 
2.4
 
$
11.35

 
$
—

$11.83
-
$13.80
 
—

 
0
 
$
—

 
—

 
0
 
$
—

 
—

$13.80
-
$15.77
 
519,278

 
4.4
 
$
14.68

 
519,278

 
4.4
 
$
14.68

 
—

$15.77
-
$17.74
 
—

 
0
 
$
—

 
—

 
0
 
$
—

 
—

$17.74
-
$19.71
 
1,841,351

 
6.6
 
$
18.84

 
494,553

 
5.2
 
$
18.12

 
—

 
 
 
 
4,443,346

 
5.0
 
$
14.80

 
2,689,673

 
3.3
 
$
13.24

 
$
4,427