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Share Capital (Tables)
 12 Months Ended
Dec. 31, 2015
Stockholders' Equity Note [Abstract]  
Summary of ordinary shares issued and outstanding
The following table is a summary of ordinary shares issued and outstanding:
(in thousands)
2015
 
2014
Balance – beginning of year
255,183

 
278,253

Exercise of options
480

 
424

Net issuance of restricted shares
1,581

 
1,246

Share buybacks (1)
(12,434
)
 
(24,740
)
Issue of shares
49,935

 
—

Balance – end of year
294,745

 
255,183

____________
(1)
Includes share buybacks associated with authorized share buyback programs as well as purchases related to satisfying tax withholding obligations of employees in connection with the vesting of restricted shares granted under the Company’s equity compensation programs.
Weighted average option pricing assumptions
The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:
 
2015
 
2014
 
2013
Dividend yield
2.00
%
 
2.00
%
 
2.00
%
Risk free interest rate
1.70
%
 
1.81
%
 
1.14
%
Volatility
21.6
%
 
34.0
%
 
37.0
%
Expected lives
6.0 years

 
6.0 years

 
6.0 years
Summary of options and options activity
The following is a summary of the activity in the stock option plans for the indicated years ended December 31:
(In thousands except for weighted average grant date fair value)
2015
 
2014
 
2013
Options granted to purchase ordinary shares under the Programs - in thousands
1,974

 
1,025

 
1,047

Weighted average grant date fair value
$
6.51

 
$
8.60

 
$
8.34

Total intrinsic value of stock options exercised
$
8,546

 
$
7,499

 
$
16,076

Options exercised during the year - in thousands
480

 
424

 
927

Compensation expense related to stock option plans
$
8,961

 
$
9,961

 
$
8,294

Estimated tax benefit (charge) related to stock option plans
$
—

 
$
(2
)
 
$
50

The following is a summary of the stock options outstanding at December 31, 2015, and related activity for the year then ended:
 
Number of Shares (in thousands)
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
(in thousands)
Outstanding – beginning of year
10,525

 
$
32.42

 
4.8 years
 
$
86,690

Granted
1,974

 
36.43

 
 
 
 
Exercised
(480
)
 
20.79

 
 
 
 
Canceled/Expired
(1,270
)
 
75.34

 
 
 
 
Outstanding – end of year
10,749

 
$
28.59

 
5.4 years
 
$
121,085

Options exercisable
7,741

 
$
26.43

 
4.1 years
 
$
105,990

Available for grant (1)
6,907

 
 
 
 
 
 
 
____________
(1)
Available for grant includes shares that may be granted as either stock options, restricted stock, restricted stock units or performance units.
Summary of restricted stock and non-vested restricted stock activity
Non-vested restricted stock awards at December 31, 2015 and for the year then ended were as follows:
(In thousands except for weighted average grant date fair value)
Number of
Shares
 
Weighted
Average Grant
Date Fair Value
Unvested at December 31, 2014
433

 
$
36.41

Granted
44

 
$
37.11

Vested
(202
)
 
$
29.08

Unvested at December 31, 2015
275

 
$
41.90

A summary of the restricted stock awards issued under the 1991 Performance Incentive Program and the Directors Stock and Option Plan for the indicated years ended December 31 is as follows:
(In thousands except for weighted average grant date fair value)
2015
 
2014
 
2013
Restricted ordinary shares granted
44

 
46

 
181

Weighted average grant date fair value
$
37.11

 
$
31.86

 
$
29.44

Aggregate grant date fair value
$
1,613

 
$
1,463

 
$
5,325

Compensation expense related to restricted stock awards
$
3,889

 
$
5,239

 
$
4,419

Estimated tax benefit related to restricted stock awards
$
709

 
$
1,233

 
$
1,047
Summary of restricted stock units and restricted stock unit activity
A summary of the restricted stock units issued to officers of the Company and its subsidiaries for the indicated years ended December 31 is as follows:
(In thousands)
2015
 
2014
 
2013
Restricted stock units granted
1,534

 
1,867

 
1,803

Aggregate grant date fair value
$
55,540

 
$
57,134

 
$
51,829

Compensation expense related to restricted stock units
$
48,937

 
$
41,879

 
$
32,874

Estimated tax benefit related to restricted stock units
$
13,271

 
$
11,607

 
$
8,813

Non-vested restricted stock units at December 31, 2015 and for the year then ended were as follows:
(In thousands except for weighted average grant date fair value)
Number of
Shares
 
Weighted
Average Grant
Date Fair Value
Unvested at December 31, 2014
3,248

 
$
28.93

Granted
1,534

 
$
36.20

Vested
(1,536
)
 
$
27.67

Forfeited
(176
)
 
$
32.45

Unvested at December 31, 2015
3,070

 
$
32.99
Summary of performance units and performance units activity
A summary of the performance units issued to certain employees of the Company for the indicated years ended December 31 is as follows:
(In thousands)
2015
 
2014
 
2013
Performance units granted
781

 
572

 
656

Potential maximum share payout
1,563

 
1,144

 
1,312

Aggregate grant date fair value
$
28,082

 
$
16,345

 
$
17,753

Compensation expense related to performance units
$
12,942

 
$
24,089

 
$
1,041

Estimated tax benefit (charge) related to performance units
$
1,459

 
$
4,250

 
$
(176
)
Non-vested restricted performance units as of December 31, 2015 were as follows:
(In thousands except for weighted average grant date fair value)
Number of
Shares
 
Weighted
Average Grant
Date Fair Value
Unvested at December 31, 2014
2,540

 
$
25.24

Granted
781

 
$
35.94

Vested
(750
)
 
$
19.35

Forfeited
(63
)
 
$
30.03

Performance driven addition (reduction)
(627
)
 
$
27.74

Unvested at December 31, 2015
1,881

 
$
31.02