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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2018
Share-based Compensation [Abstract]  
Stock-Based Compensation Expense and Related Tax Benefit Total stock-based compensation expense and the related tax benefit were as follows:
 
2018
 
2017
 
2016
 
 
 
 
 
 
 
(in thousands)
Stock options
$
3,675

 
$
2,695

 
$
2,357

Restricted stock units
26,859

 
17,738

 
14,723

Unrestricted stock awards
729

 
974

 
955

Phantom stock units
2,165

 
1,747

 
1,077

Total stock-based compensation
$
33,428

 
$
23,154

 
$
19,112

 
 
 
 
 
 
Related tax benefit
$
6,019

 
$
5,034

 
$
4,927
Employee Stock Options Activity 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
191

 
40.40

 
 
 
 
 
$
13.27

Exercised
(58
)
 
37.00

 
 
 
742

 
 
Forfeited
(36
)
 
35.29

 
 
 
 
 
 
Expired
(318
)
 
55.13

 
 
 
 
 
 
Outstanding, December 31, 2016
959

 
$
45.64

 
6.6
 
$
19,125

 
 
 
 
 
 
 
 
 
 
 
 
Granted
135

 
$
65.94

 
 
 
 
 
$
21.99

Exercised
(41
)
 
39.92

 
 
 
$
1,071

 
 
Forfeited
(35
)
 
47.38

 
 
 
 
 
 
Expired
(62
)
 
70.12

 
 
 
 
 
 
Outstanding, December 31, 2017
956

 
$
47.10

 
6.3
 
$
21,965

 
 
 
 
 
 
 
 
 
 
 
 
Converted upon acquisition
42

 
$
51.86

 
 
 
 
 
$
14.86

Granted
122

 
68.21

 
 
 
 
 
24.29

Exercised
(152
)
 
38.99

 
 
 
$
4,520

 
 
Forfeited
(7
)
 
60.03

 
 
 
 
 
 
Expired
(66
)
 
95.31

 
 
 
 
 
 
Outstanding, December 31, 2018
895

 
$
47.93

 
6.2
 
$
4,806

 
 
 
 
 
 
 
 
 
 
 
 
Exercisable, December 31, 2018
629

 
$
42.30

 
5.3
 
$
4,417

 
 
 
 
 
 
 
 
 
 
 
 
Expected to vest, December 31, 2018
266

 
$
61.23

 
8.4
 
$
389

 
 
Stock Options, Valuation Assumptions The weighted-average assumptions used to estimate the fair value of stock options granted and the resulting weighted average fair value are as follows:
 
Year Ended December 31,
 
2018
 
2017
 
2016
Expected volatility
30.5
%
 
32.5
%
 
33.5
%
Risk-free interest rate
2.8
%
 
2.0
%
 
1.3
%
Expected term (years)
6.1

 
5.5

 
5.5
Restricted Stock Units Award Activity 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
306

 
$
41.58

 
 
Released
(312
)
 
 
 
$
11,944

Forfeited
(49
)
 
 
 
 
Outstanding, December 31, 2016
701

 
$
38.04

 
 
 
 
 
 
 
 
Granted
273

 
$
50.95

 
 
Released
(372
)
 
 
 
$
14,219

Forfeited
(46
)
 
 
 
 
Outstanding, December 31, 2017
556

 
$
47.68

 
 
 
 
 
 
 
 
Converted upon acquisition
579

 
$
69.40

 
 
Granted
387

 
57.48

 
 
Released
(593
)
 
54.91

 
$
32,567

Forfeited
(112
)
 
67.88

 
 
Outstanding, December 31, 2018
817

 
$
59.70

 
 
 
 
 
 
 
 
Vested but not released, December 31, 2018
124

 
 
 
$
5,867

 
 
 
 
 
 
Expected to vest, December 31, 2018
643

 
 
 
$
30,405
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:
 
Year Ended December 31,
 
2018
 
2017
 
2016
Expected volatility
28.0
%
 
28.0
%
 
30.0
%
Risk-free interest rate
2.2
%
 
1.0
%
 
0.7
%
Expected term (years)
2.1

 
1.7

 
1.8

 
 
 
 
 
 
Weighted average grant date fair value
$
78.56

 
$
77.75

 
$
44.92
Schedule of Other Share-based Compensation, Activity The following table summarizes phantom stock unit activity:

 
Number of Phantom Stock Units
 
Weighted
Average Grant
Date Fair Value
 
(in thousands)
 
 
Outstanding, January 1, 2017
62

 
 
Granted
32

 
$
65.55

Released
(20
)
 
 
Forfeited
(11
)
 
 
Outstanding, December 31, 2017
63

 
 
 
 
 
 
Expected to vest, December 31, 2017
63

 
 
 
 
 
 
Outstanding, January 1, 2018
63

 
$
62.53

Converted upon acquisition
21

 
69.40

Granted
41

 
66.67

Released
(35
)
 
54.33

Forfeited
(7
)
 
61.28

Outstanding, December 31, 2018
83

 
$
61.80

 
 
 
 
Expected to vest, December 31, 2018
83