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Stock-Based Compensation Plans (Tables)
6 Months Ended
Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock Option Activity
A summary of stock option activity 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, 2018
4,864,836

 
$
17.76

 
 
 
 
Exercised
(365,808
)
 
15.90

 
 
 
 
Forfeited
(3,496
)
 
17.89

 
 
 
 
Outstanding as of June 30, 2019
4,495,532

 
$
17.91

 
5.77
 
$
73,859,896

Exercisable as of June 30, 2019
3,951,380

 
$
17.59

 
5.54
 
$
66,188,229


Black-Scholes Option-Pricing Model  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Grant Date Fair Value Weighted-Average Assumptions, Options
The fair value of options granted during the six months ended June 30, 2018, were estimated on the date of grant using the Black-Scholes option-pricing model, acceptable under ASC 718, Compensation – Stock Compensation (“ASC 718”), with the following weighted average assumptions:
 
Six Months Ended
June 30, 2018
Expected life (years)
5.6

Risk-free interest rate
2.7
%
Expected volatility
26.4
%
Expected dividend yield


LTIP Performance Shares  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Nonvested Performance Award Activity
A summary of nonvested long-term incentive program performance share awards (“LTIP performance shares”) is as follows:
 
Number of Shares
at Expected Attainment
 
Weighted Average
Grant Date Fair Value
Nonvested as of December 31, 2018
540,697

 
$
19.83

Forfeited
(16,319
)
 
20.12

Change in attainment
377,557

 
20.22

Nonvested as of June 30, 2019
901,935

 
$
19.99


Restricted Share Awards (RSAs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Nonvested Restricted Share Award Activity
A summary of nonvested restricted share awards (“RSAs”) is as follows:
 
Number of
Shares
 
Weighted Average
Grant Date Fair Value
Nonvested as of December 31, 2018
213,337

 
$
20.21

Vested
(104,763
)
 
20.21

Forfeited
(9,068
)
 
20.12

Nonvested as of June 30, 2019
99,506

 
$
20.21


Total Shareholder Return Awards (TSRs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Nonvested Performance Award Activity
A summary of nonvested total shareholder return awards (“TSRs”) is as follows:
 
Number of
Shares
 
Weighted Average
Grant Date Fair Value
Nonvested as of December 31, 2018
718,931

 
$
29.25

Granted
436,674

 
47.90

Forfeited
(18,050
)
 
36.06

Nonvested as of June 30, 2019
1,137,555

 
$
36.30


Total Shareholder Return Awards (TSRs) | Monte Carlo Simulation Model  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Grant Date Fair Value Weighted-Average Assumptions, Awards Other Than Options
The fair value of TSRs granted during the six months ended June 30, 2019 and 2018, were estimated on the date of grant using the Monte Carlo simulation model, acceptable under ASC 718, using the following weighted average assumptions:
 
Six Months Ended
June 30,
 
2019
 
2018
Expected life (years)
2.8

 
2.9

Risk-free interest rate
2.5
%
 
2.4
%
Expected volatility
29.3
%
 
28.0
%
Expected dividend yield

 


Restricted Share Units (RSUs)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Nonvested Restricted Share Unit Activity
A summary of nonvested restricted share unit awards (“RSUs”) is as follows:
 
Number of
Shares
 
Weighted Average
Grant Date Fair Value
Nonvested as of December 31, 2018
651,045

 
$
23.82

Granted
679,480

 
33.06

Vested
(257,982
)
 
24.13

Forfeited
(22,465
)
 
26.60

Nonvested as of June 30, 2019
1,050,078

 
$
29.66