XML 43 R29.htm IDEA: XBRL DOCUMENT v3.7.0.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2017
Share-based Compensation [Abstract]  
Stock-Based Compensation Expense and Related Tax Benefit [Table Text Block]
Total stock-based compensation expense and the related tax benefit were as follows:

 
Three Months Ended March 31,
 
2017
 
2016
 
(in thousands)
Stock options
$
659

 
$
554

Restricted stock units
4,297

 
3,096

Unrestricted stock awards
255

 
250

Phantom stock units
392

 
76

Total stock-based compensation
$
5,603

 
$
3,976

 
 
 
 
Related tax benefit
$
1,228

 
$
1,208

Employee Stock Options Activity [Table Text Block]
A summary of our stock option activity is as follows:

 
Shares
 
Weighted
Average Exercise
Price per Share
 
Weighted Average
Remaining
Contractual Life
 
Aggregate
Intrinsic Value
 
Weighted
Average Grant
Date Fair Value
 
(in thousands)
 
 
 
(years)
 
(in thousands)
 
 
Outstanding, January 1, 2016
1,180

 
$
48.31

 
5.7
 
$
405

 
 
Granted
185

 
40.04

 
 
 
 
 
$
13.15

Exercised
(12
)
 
35.29

 
 
 
73

 
 
Forfeited
(35
)
 
35.29

 
 
 
 
 
 
Expired
(1
)
 
48.51

 
 
 
 
 
 
Outstanding, March 31, 2016
1,317

 
$
47.61

 
5.5
 
$
2,859

 
 
 
 
 
 
 
 
 
 
 
 
Outstanding, January 1, 2017
959

 
$
45.64

 
6.6
 
$
19,125

 
 
Granted
121

 
65.55

 
 
 
 
 
$
22.01

Exercised
(5
)
 
35.29

 
 
 
120

 
 
Forfeited

 

 
 
 
 
 
 
Expired

 

 
 
 
 
 
 
Outstanding, March 31, 2017
1,075

 
$
47.92

 
6.7
 
$
17,236

 
 
 
 
 
 
 
 
 
 
 
 
Exercisable March 31, 2017
707

 
$
48.34

 
5.5
 
$
11,657

 
 
 
 
 
 
 
 
 
 
 
 
Expected to vest, March 31, 2017
368

 
$
47.13

 
9.0
 
$
5,579

 
 

Stock Options, Valuation Assumptions [Table Text Block]
The weighted-average assumptions used to estimate the fair value of stock options granted and the resulting weighted average fair value are as follows:

 
Three Months Ended March 31,
 
2017
 
2016
Expected volatility
32.7
%
 
33.5
%
Risk-free interest rate
2.0
%
 
1.3
%
Expected term (years)
5.5

 
5.5

 
 
 
 
Weighted average fair value
$
22.01

 
$
13.15

Restricted Stock Units Award Activity [Table Text Block]
The following table summarizes restricted stock unit activity:

 
Number of
Restricted Stock Units
 
Weighted
Average Grant
Date Fair Value
 
Aggregate
Intrinsic Value
 
(in thousands)
 
 
 
(in thousands)
Outstanding, January 1, 2016
756

 
 
 
 
Granted
172

 
$
40.02

 
 
Released
(262
)
 
 
 
$
10,098

Forfeited
(30
)
 
 
 
 
Outstanding, March 31, 2016
636

 
 
 
 
 
 
 
 
 
 
Outstanding, January 1, 2017
701

 
$
38.04

 
 
Granted
131

 
63.12

 
 
Released
(317
)
 
38.13

 
$
12,066

Forfeited
(3
)
 
35.68

 
 
Outstanding, March 31, 2017
512

 
44.45

 
 
 
 
 
 
 
 
Vested but not released, March 31, 2017
6

 
 
 
$
374

 
 
 
 
 
 
Expected to vest, March 31, 2017
410

 
 
 
$
24,894


Restricted Stock Units, Valuation Assumptions
The weighted-average assumptions used to estimate the fair value of performance-based restricted stock units granted and the resulting weighted average fair value are as follows:

 
Three Months Ended March 31,
 
2017
 
2016
Expected volatility
28.0
%
 
30.0
%
Risk-free interest rate
1.0
%
 
0.7
%
Expected term (years)
1.7

 
1.8

 
 
 
 
Weighted average fair value
$
77.78

 
$
44.77

Schedule of Other Share-based Compensation, Activity [Table Text Block]
The following table summarizes phantom stock unit activity:

 
Number of Phantom Stock Units
 
Weighted
Average Grant
Date Fair Value
 
(in thousands)
 
 
Outstanding, January 1, 2016

 
 
Granted
61

 
$
41.72

Forfeited

 
 
Outstanding, March 31, 2016
61

 
 
 
 
 
 
Expected to vest, March 31, 2016
53

 
 
 
 
 
 
Outstanding, January 1, 2017
62

 
$
40.11

Granted
32

 
65.55

Released
(19
)
 
40.05

Forfeited
(2
)
 
40.05

Outstanding, March 31, 2017
73

 
51.40

 
 
 
 
Expected to vest, March 31, 2017
73