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Stock-Based Compensation Plans (Tables)
3 Months Ended
Mar. 31, 2018
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, 2017

     6,162,717      $ 16.83        

Granted

     170,455        23.36        

Exercised

     (656,898      13.88        

Forfeited

     (3,255      17.89        
  

 

 

    

 

 

       

Outstanding as of March 31, 2018

     5,673,019      $ 17.37        6.74      $ 36,025,874  
  

 

 

    

 

 

    

 

 

    

 

 

 

Exercisable as of March 31, 2018

     4,081,780      $ 16.58        6.11      $ 29,135,028  
  

 

 

    

 

 

    

 

 

    

 

 

 
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, 2018 and 2017 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
March 31, 2018
    Three Months Ended
March 31, 2017
 

Expected life (years)

     5.6       5.6  

Interest rate

     2.7     1.9

Volatility

     26.4     29.4

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, 2018 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, 2017

     1,125,035      $ 18.94  

Forfeited

     (8,008      19.57  
  

 

 

    

 

 

 

Nonvested as of March 31, 2018

     1,117,027      $ 18.94  
  

 

 

    

 

 

 
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, 2018
    Three Months Ended
March 31, 2017
 

Expected life (years)

     2.9       2.9  

Interest rate

     2.4     1.5

Volatility

     28.0     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, 2018 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, 2017

     143,649      $ 24.37  

Granted

     541,214        31.31  

Forfeited

     (1,837      31.31  
  

 

 

    

 

 

 

Nonvested as of March 31, 2018

     683,026      $ 29.85  
  

 

 

    

 

 

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

A summary of nonvested restricted share awards (“RSAs”) as of March 31, 2018 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, 2017

     503,237      $ 20.63  

Vested

     (123,427      20.12  

Forfeited

     (10,727      20.12  
  

 

 

    

 

 

 

Nonvested as of March 31, 2018

     369,083      $ 20.81  
  

 

 

    

 

 

 
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, 2018 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, 2017

     173,636      $ 24.41  
  

 

 

    

 

 

 

Nonvested as of March 31, 2018

     173,636      $ 24.41  
  

 

 

    

 

 

 
Restricted Share Units [Member]  
Summary of Nonvested Restricted Share and Changes During Period

A summary of nonvested RSUs as of March 31, 2018 and changes during the period are as follows:

 

Nonvested Restricted Share Units

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

Nonvested as of December 31, 2017

     —        $ —    

Granted

     581,945        23.36  

Forfeited

     (2,461      23.36  
  

 

 

    

 

 

 

Nonvested as of March 31, 2018

     579,484      $ 23.36