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Stock-Based Compensation Plans (Tables)
3 Months Ended
Mar. 31, 2017
Summary of Stock Options Issued Pursuant to Stock Incentive Plans

A summary of stock options issued pursuant to the Company’s stock incentive plans is as follows:

 

     Number of
Shares
     Weighted-
Average
Exercise
Price
     Weighted-
Average
Remaining
Contractual
Term (Years)
     Aggregate
Intrinsic Value  of
In-the-Money
Options
 

Outstanding as of December 31, 2016

     6,791,375      $ 15.54        

Granted

     864,800        20.12        

Exercised

     (529,697      13.28        

Forfeited

     (103,751      18.12        

Expired

     (14,783      20.42        
  

 

 

    

 

 

       

Outstanding as of March 31, 2017

     7,007,944      $ 16.23        7.07      $ 36,159,173  
  

 

 

    

 

 

    

 

 

    

 

 

 

Exercisable as of March 31, 2017

     4,167,453      $ 14.45        5.78      $ 28,920,839  
  

 

 

    

 

 

    

 

 

    

 

 

 
Summary of Nonvested Restricted Share Awards and Changes During Period

A summary of nonvested restricted share awards (“RSAs”) as of March 31, 2017 and changes during the period are as follows:

 

Nonvested Restricted Share Awards

   Number of
Restricted
Share Awards
     Weighted-Average Grant
Date Fair Value
 

Nonvested as of December 31, 2016

     172,108      $ 20.62  

Granted

     446,702        20.12  

Forfeited

     (18,182      22.90  
  

 

 

    

 

 

 

Nonvested as of March 31, 2017

     600,628      $ 20.18  
  

 

 

    

 

 

 
Black-Scholes Option-Pricing Model [Member]  
Estimated Fair Value of Options Granted Pricing Model with Weighted-Average Assumptions

The fair value of options that do not vest based on the achievement of certain market conditions granted during the three months ended March 31, 2017 and 2016 were estimated on the date of grant using the Black-Scholes option-pricing model, a pricing model acceptable under U.S. GAAP, with the following weighted-average assumptions:

 

     Three Months Ended     Three Months Ended  
     March 31, 2017     March 31, 2016  

Expected life (years)

     5.6       5.9  

Interest rate

     1.9     1.2

Volatility

     29.4     29.7

Dividend yield

     —         —    
Monte Carlo Simulation [Member]  
Estimated Fair Value of Options Granted Pricing Model with Weighted-Average Assumptions

With respect to options granted that vest based on the achievement of certain market conditions, the grant date fair value of such options was estimated using the following weighted-average assumptions:

 

     Three Months Ended  
     March 31, 2016  

Expected life (years)

     7.5  

Interest rate

     1.6

Volatility

     41.6

Dividend yield

     —    
LTIP Performance Shares [Member]  
Summary of Nonvested Performance Share Awards and Changes During Period

A summary of nonvested long-term incentive program performance share awards (“LTIP performance shares”) outstanding as of March 31, 2017 and changes during the period are as follows:

 

Nonvested LTIP Performance Shares

   Number of
Shares at
Expected
Attainment
     Weighted-
Average
Grant Date
Fair Value
 

Nonvested as of December 31, 2016

     1,738,056      $ 18.45  

Granted

     553,549        20.12  

Forfeited

     (51,706      18.24  
  

 

 

    

 

 

 

Nonvested as of March 31, 2017

     2,239,899      $ 18.87  
  

 

 

    

 

 

 
Total Shareholder Return [Member] | Monte Carlo Simulation [Member]  
Estimated Fair Value of Options Granted Pricing Model with Weighted-Average Assumptions

The grant date fair value of the TSRs was estimated using the following weighted-average assumptions:

 

     Three Months Ended  
     March 31, 2017  

Expected life (years)

     2.9  

Interest rate

     1.5

Volatility

     26.5

Dividend Yield

     —    
TSR Plan [Member]  
Summary of Nonvested Performance Share Awards and Changes During Period

A summary of nonvested TSRs outstanding as of March 31, 2017 and changes during the period are as follows:

 

Nonvested Total Shareholder Return Awards

   Number of
Shares at
Expected
Attainment
     Weighted-
Average
Grant Date
Fair Value
 

Nonvested as of December 31, 2016

     —        $ —    

Granted

     233,077        24.37  
  

 

 

    

 

 

 

Nonvested as of March 31, 2017

     233,077      $ 24.37  
  

 

 

    

 

 

 
Performance-Based Restricted Share Awards [Member]  
Summary of Nonvested Performance Share Awards and Changes During Period

A summary of nonvested Performance-Based Restricted Share Awards (“PBRSAs”) as of March 31, 2017 and changes during the period are as follows:

 

Nonvested Performance-Based Restricted Share Awards

   Number of
Performance-Based
Restricted

Share Awards
     Weighted-Average Grant
Date Fair Value
 

Nonvested as of December 31, 2016

     683,667      $ 23.25  

Vested

     (305,136      21.89  

Forfeited

     (5,536      23.21  

Change in attainment for 2015 grants

     (13,592      23.25  
  

 

 

    

 

 

 

Nonvested as of March 31, 2017

     359,403      $ 24.41  
  

 

 

    

 

 

 
Retention RSAs [Member]  
Summary of Nonvested Restricted Share Awards and Changes During Period

A summary of nonvested Retention Restricted Share Awards (“Retention RSAs”) as of March 31, 2017 and changes during the period are as follows:

 

Nonvested Retention Restricted Share Awards

   Number of
Retention Restricted
Share Awards
     Weighted-Average Grant
Date Fair Value
 

Nonvested as of December 31, 2016

     205,540      $ 17.89  

Vested

     (151,871      17.89  
  

 

 

    

 

 

 

Nonvested as of March 31, 2017

     53,669      $ 17.89  
  

 

 

    

 

 

 
Restricted share awards (RSAs) | PAY.ON  
Summary of Nonvested Restricted Share Awards and Changes During Period

A summary of nonvested PAY.ON RSAs as of March 31, 2017 and changes during the period are as follows:

 

Nonvested PAY.ON RSAs

   Number of
PAY.ON RSAs
     Grant Date
Fair Value
 

Nonvested at December 31, 2016

     238,376      $ 23.60  

Forfeited

     (119,188      23.60  
  

 

 

    

 

 

 

Nonvested at March 31, 2017

     119,188      $ 23.60