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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation Expense and Related Tax Benefit
Total stock-based compensation expense and the related tax benefit were as follows:
 
Three Months Ended March 31,
In thousands
2019
 
2018
Stock options
$
581

 
$
831

Restricted stock units
6,467

 
7,057

Unrestricted stock awards
157

 
207

Phantom stock units
918

 
690

Total stock-based compensation
$
8,123

 
$
8,785

 
 
 
 
Related tax benefit
$
1,443

 
$
1,534
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, 2018
956

 
$
47.10

 
6.3
 
$
21,965

 
 
Converted upon acquisition
42

 
51.86

 
 
 
 
 
$
14.86

Granted
101

 
69.30

 
 
 
 
 
$
24.83

Exercised
(62
)
 
40.31

 
 
 
2,104

 
 
Forfeited
(3
)
 
72.25

 
 
 
 
 
 
Expired
(7
)
 
95.96

 
 
 
 
 
 
Outstanding, March 31, 2018
1,027

 
$
49.49

 
6.5
 
$
24,051

 
 
 
 
 
 
 
 
 
 
 
 
Outstanding, January 1, 2019
895

 
$
47.93

 
6.2
 
$
4,806

 
 
Exercised
(20
)
 
44.99

 
 
 
211

 
 
Forfeited
(7
)
 
67.53

 
 
 
 
 
 
Outstanding, March 31, 2019
868

 
$
47.83

 
6.0
 
$
4,402

 
 
 
 
 
 
 
 
 
 
 
 
Exercisable, March 31, 2019
734

 
$
44.46

 
5.5
 
$
4,402

 
 
 
 
 
 
 
 
 
 
 
 
Expected to vest, March 31, 2019
134

 
$
66.25

 
8.6
 
$
—

 
 
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:
 
Three Months Ended March 31,
 
2019
 
2018
Expected volatility
—
%
 
30.9
%
Risk-free interest rate
—
%
 
2.8
%
Expected term (years)
N/A

 
6.1


There were no employee stock options granted for the three months ended March 31, 2019.
Restricted Stock Units Award Activity
The following table summarizes restricted stock unit activity:
In thousands
Number of
Restricted Stock Units
 
Weighted
Average Grant
Date Fair Value
 
Aggregate
Intrinsic Value
Outstanding, January 1, 2018
556

 

 
 
Converted upon acquisition
579

 
 
 
 
Granted
136

 
$
69.30

 
 
Released (1)
(352
)
 

 
$
17,231

Forfeited
(28
)
 

 
 
Outstanding, March 31, 2018
891

 

 
 
 
 
 
 
 
 
Outstanding, January 1, 2019
817

 
$
59.70

 
 
Granted
107

 
56.04

 
 
Released (1)
(316
)
 
60.29

 
$
19,074

Forfeited
(17
)
 
66.17

 
 
Outstanding, March 31, 2019
591

 
64.51

 
 
 
 
 
 
 
 
Vested but not released, March 31, 2019
8

 
 
 
$
361

 
 
 
 
 
 
Expected to vest, March 31, 2019
579

 
 
 
$
27,018


(1)     Shares released is presented gross of shares netted for employee payroll tax obligations.
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,
 
2019
 
2018
Expected volatility
31.3
%
 
28.0
%
Risk-free interest rate
2.5
%
 
2.2
%
Expected term (years)
1.6

 
2.1

 
 
 
 
Weighted average fair value
$
60.91

 
$
78.56
Schedule of Other Share-based Compensation, Activity
The following table summarizes phantom stock unit activity:
In thousands
Number of Phantom Stock Units
 
Weighted
Average Grant
Date Fair Value
Outstanding, January 1, 2018
63

 


Converted upon acquisition
21

 
 
Granted
31

 
$
69.30

Released
(27
)
 


Forfeited
(1
)
 


Outstanding, March 31, 2018
87

 


 
 
 
 
Expected to vest, March 31, 2018
85

 
 
 
 
 
 
Outstanding, January 1, 2019
83

 
$
61.80

Granted
12

 
49.39

Released
(35
)
 
55.99

Forfeited
(2
)
 
63.88

Outstanding, March 31, 2019
58

 
62.56

 
 
 
 
Expected to vest, March 31, 2019
58