XML 43 R31.htm IDEA: XBRL DOCUMENT v3.6.0.2
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stock-based Compensation Expense by Award Type
The Company recognized the following amounts of stock-based compensation expense by award type for the years ended December 31 (in millions):
Award type:
 
2016
 
2015
 
2014
Stock appreciation rights
 
$
5.6

 
$
5.7

 
$
5.0

Common stock equivalents
 
0.7

 
0.6

 
0.6

Restricted stock units
 
40.4

 
39.8

 
33.2

Total (1)
 
$
46.7

 
$
46.1

 
$
38.8

 
Schedule of Stock-based Compensation Expense by Expense Category
Stock-based compensation expense was recognized by line item in the Consolidated Statements of Operations for the years ended December 31 as follows (in millions):  
Amount recorded in:
 
2016
 
2015
 
2014
Costs of services and product development
 
$
21.9

 
$
20.6

 
$
17.6

Selling, general, and administrative
 
24.8

 
25.5

 
21.2

Total (1)
 
$
46.7

 
$
46.1

 
$
38.8
Schedule of Fair Value Assumptions of SARS
The fair value of the SARs is determined on the date of grant using the Black-Scholes-Merton valuation model with the following weighted-average assumptions for the years ended December 31:
 
2016
 
2015
 
2014
Expected dividend yield (1)
—
%
 
—
%
 
—
%
Expected stock price volatility (2)
22
%
 
24
%
 
25
%
Risk-free interest rate (3)
1.1
%
 
1.5
%
 
1.3
%
Expected life in years (4)
4.39

 
4.41

 
4.43

 
(1)
The dividend yield assumption is based on both the history and expectation of the Company’s dividend payouts. Historically the Company has not paid cash dividends on its Common Stock.

(2)
The determination of expected stock price volatility was based on both historical Common Stock prices and the implied volatility from publicly traded options in Common Stock.

(3)
The risk-free interest rate is based on the yield of a U.S. Treasury security with a maturity similar to the expected life of the award.

(4)
The expected life represents the Company’s weighted-average estimate of the period of time the SARs are expected to be outstanding (that is, the period between the service inception date and the expected exercise date).
Stock Appreciation Rights (SARs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Summary of the Changes in SARS, RSUs, and CSEs Outstanding
The following table summarizes changes in SARs outstanding for the year ended December 31, 2016:  
 
Stock Appreciation Rights (SARs)
(in millions)
 
Per Share
Weighted-
Average
Exercise Price
 
Per Share
Weighted-
Average
Grant Date
Fair Value
 
Weighted-Average
Remaining
Contractual
Term (in years)
Outstanding at December 31, 2015
1.3

 
$
56.47

 
$
14.92

 
4.46 years

Granted
0.4

 
80.06

 
16.50

 
6.11 years

Forfeited
—

 
—

 
—

 
—

Exercised
(0.4
)
 
40.65

 
13.03

 
na

Outstanding at December 31, 2016 (1), (2)
1.3

 
$
66.22

 
$
15.77

 
4.40 years

Vested and exercisable at December 31, 2016 (2)
0.5

 
$
55.15

 
$
14.91

 
3.25 years

 
na = not applicable
 
(1)
At December 31, 2016, 0.8 million of these SARs were unvested. The Company expects that substantially all of these unvested awards will vest in future periods.

(2)
At December 31, 2016, SARs outstanding had an intrinsic value of $46.8 million. SARs vested and exercisable had an intrinsic value of $25.1 million.
Restricted Stock Units (RSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Summary of the Changes in SARS, RSUs, and CSEs Outstanding
The following table summarizes the changes in RSUs outstanding during the year ended December 31, 2016:  
 
Restricted
Stock Units
(RSUs)
(in millions)
 
Per Share
Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 2015
1.4

 
$
62.80

Granted (1)
0.6

 
81.41

Vested and released
(0.6
)
 
58.15

Forfeited
(0.1
)
 
69.40

Outstanding at December 31, 2016 (2), (3)
1.3

 
$
73.19

 
(1)
The 0.6 million RSUs granted in 2016 consisted of 0.3 million performance-based RSUs awarded to executives and 0.3 million service-based RSUs awarded to non-executive employees and non-management board members. The 0.3 million of performance-based RSUs was determined based on the achievement of an increase in the Company's total contract value in 2016. Total contract value represents the value attributable to all of our subscription-related contracts.

(2)
The Company expects that substantially all of the outstanding awards at December 31, 2016 will vest in future periods.

(3)
The weighted-average remaining contractual term of the outstanding RSUs is approximately 1.1 years.
Common Stock Equivalents (CSEs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Summary of the Changes in SARS, RSUs, and CSEs Outstanding
The following table summarizes the changes in CSEs outstanding for the year ended December 31, 2016:  
 
Common Stock
Equivalents
(CSEs)
 
Per Share
Weighted-Average
Grant Date
Fair Value
Outstanding at December 31, 2015
105,664

 
$
19.57

Granted
7,069

 
93.90

Converted to common stock
(5,395
)
 
93.90

Outstanding at December 31, 2016
107,338

 
$
20.74