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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock-Based Compensation Expense

Stock-based compensation expense related to stock options, RSUs, ESPP purchase rights, and stock options under ASC 718 for the years ended December 31, 2017, 2016, and 2015 is summarized as follows (in thousands):

 

     2017      2016      2015  

RSUs

   $ 21,887      $ 28,952      $ 29,671  

ESPP purchase rights

     4,645        2,795        4,003  

Employee stock options

     —          79        397  
  

 

 

    

 

 

    

 

 

 

Total stock-based compensation

     26,532        31,826        34,071  

Income tax benefit

     (8,188      (10,342      (9,436
  

 

 

    

 

 

    

 

 

 

Stock-based compensation expense, net of tax

   $ 18,344      $ 21,484      $ 24,635  
  

 

 

    

 

 

    

 

 

 
Schedule of ESPP Purchase Rights and Underlying Weighted Average Assumptions

Stock options were not granted during the years ended December 31, 2017, 2016, and 2015. The estimated weighted average fair value per share of ESPP purchase rights issued and the assumptions used to estimate fair value for the years ended December 31, 2017, 2016, and 2015 are as follows:

 

     2017     2016     2015  

Weighted average fair value per share

   $ 12.09     $ 10.69     $ 10.28  

Expected volatility

     24% - 28     22% - 32     19% - 28

Risk-free interest rate

     0.7% - 1.3     0.4% - 0.8     0.1% - 0.7

Expected term (in years)

     0.5 - 2.0       0.5 - 2.0       0.5 - 2.0  
Schedule of Stock Options Outstanding and Exercisable

Stock options outstanding and exercisable, including performance-based and market-based options, as of December 31, 2017, 2016, and 2015 and activity for each of the years then ended are summarized as follows (in thousands, except weighted average exercise price and remaining contractual term):

 

     Shares     Weighted
average
exercise
price
     Weighted
average
remaining
contractual
term
(years)
     Aggregate
intrinsic
value
 

Options outstanding at January 1, 2015

     566     $ 13.67        
  

 

 

   

 

 

       

Options exercised

     (124     15.35        
  

 

 

   

 

 

       

Options outstanding at December 31, 2015

     442     $ 13.20        
  

 

 

   

 

 

       

Options forfeited and expired

     (12     10.77        

Options exercised

     (115     11.64        
  

 

 

   

 

 

       

Options outstanding at December 31, 2016

     315     $ 13.86        1.46      $ 9,480  
  

 

 

   

 

 

    

 

 

    

 

 

 

Options exercised

     (165     12.45        
  

 

 

   

 

 

       

Options outstanding at December 31, 2017

     150     $ 15.43        1.27      $ 2,116  
  

 

 

   

 

 

    

 

 

    

 

 

 

Options vested and expected to vest at December 31, 2017

     150     $ 15.43        1.27      $ 2,116  
  

 

 

   

 

 

    

 

 

    

 

 

 

Options exercisable at December 31, 2017

     150     $ 15.43        1.27      $ 2,116  
  

 

 

   

 

 

    

 

 

    

 

 

 
Schedule of Non-Vested RSUs

Non-vested RSUs, including performance-based and market-based RSUs, as of December 31, 2017, 2016, and 2015, and activity for each of the years then ended, are summarized as follows (shares in thousands):

 

     Shares      Weighted
average grant
date fair value
 

Non-vested at January 1, 2015

     2,003      $ 35.91  
  

 

 

    

 

 

 

Restricted stock granted

     1,104        41.61  

Restricted stock vested

     (925      32.39  

Restricted stock forfeited

     (368      39.08  
  

 

 

    

 

 

 

Non-vested at December 31, 2015

     1,814      $ 40.53  
  

 

 

    

 

 

 

Restricted stock granted

     1,359        43.35  

Restricted stock vested

     (787      38.34  

Restricted stock forfeited

     (303      39.54  
  

 

 

    

 

 

 

Non-vested at December 31, 2016

     2,083      $ 43.34  
  

 

 

    

 

 

 

Restricted stock granted

     1,467        35.89  

Restricted stock vested

     (761      42.74  

Restricted stock forfeited

     (510      41.51  
  

 

 

    

 

 

 

Non-vested at December 31, 2017

     2,279      $ 39.16  
  

 

 

    

 

 

 
Schedule of Performance-Based and Market-Based RSUs and Stock Options

Performance-based and Market-based RSUs and Stock Options

Performance-based and market-based RSUs included in the tables above as of December 31, 2017, 2016, and 2015, and activity for each of the years then ended, are summarized below (in thousands):

 

     Performance-based     Market-based  
     RSUs     Stock
Options
    RSUs  

Non-vested at January 1, 2015

     852       16       34  
  

 

 

   

 

 

   

 

 

 

Granted

     569       —         18  

Vested

     (284     —         (3

Forfeited

     (217     —         (26
  

 

 

   

 

 

   

 

 

 

Non-vested at December 31, 2015

     920       16       23  
  

 

 

   

 

 

   

 

 

 

Granted

     821       —         —    

Vested

     (226     (4     —    

Forfeited

     (250     (12     —    
  

 

 

   

 

 

   

 

 

 

Non-vested at December 31, 2016

     1,265       —         23  
  

 

 

   

 

 

   

 

 

 

Granted

     675       —         —    

Vested

     (284     —         —    

Forfeited

     (447     —         —    
  

 

 

   

 

 

   

 

 

 

Non-vested at December 31, 2017

     1,209       —         23  
  

 

 

   

 

 

   

 

 

 
Schedule of Weighted Average Grant Date Fair Value Per Share of Performance-Based and Market-Based RSUs and Assumptions Used to Estimate Fair Value

The estimated grant date fair value per share of performance-based and market-based RSUs granted and the assumptions used to estimate grant date fair value for the years ended December 31, 2017, 2016, and 2015 are as follows:

 

     Performance-based      Market-based  
     RSUs      RSUs  
     Short-term      Long-term     

 

 

Year ended December 31, 2017 Grants

        

Grant date fair value per share

   $ 47.18      $ 33.43     

Service period (years)

     1.0        2.0 - 3.0     

Year ended December 31, 2016 Grants

        

Grant date fair value per share

   $ 39.79      $ 45.76     

Service period (years)

     1.0        2.0 - 3.0     

Year ended December 31, 2015 Grants

        

Grant date fair value per share

   $ 38.77      $ 42.82      $ 33.84  

Service period (years)

     1.0        2.0 - 3.0     

Derived service period (years)

           1.60  

Implied volatility

           30.0

Risk-free interest rate

           1.7