XML 65 R46.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Share Incentive Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Share Based Compensation [Abstract] |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | The following tables summarize compensation information regarding the restricted shares, restricted units, share options and Employee Share Purchase Plan (“ESPP”) for the three years ended December 31, 2018, 2017 and 2016 (amounts in thousands):
|  | Year Ended December 31, 2018 |
|  | Compensation Expense |  |  | Compensation Capitalized |  |  | Restricted Units/Options In-Lieu of Bonus (1) |  |  | Compensation Equity |  |  | Dividends Incurred |
Restricted shares (2) |  | $ | 7,406 |  |  | $ | 852 |  |  | $ | — |  |  | $ | 8,258 |  |  | $ | 754 |
Restricted units (2) |  |  | 12,310 |  |  |  | 36 |  |  |  | 1,663 |  |  |  | 14,009 |  |  |  | 963 |
Share options |  |  | 6,683 |  |  |  | 296 |  |  |  | 2,755 |  |  |  | 9,734 |  |  |  | — |
ESPP discount |  |  | 733 |  |  |  | 34 |  |  |  | — |  |  |  | 767 |  |  |  | — |
Total |  | $ | 27,132 |  |  | $ | 1,218 |  |  | $ | 4,418 |  |  | $ | 32,768 |  |  | $ | 1,717 |
|  | Year Ended December 31, 2017 |
|  | Compensation Expense |  |  | Compensation Capitalized |  |  | Restricted Units/Options In-Lieu of Bonus (1) |  |  | Compensation Equity |  |  | Dividends Incurred |
Restricted shares (2) |  | $ | 9,209 |  |  | $ | 568 |  |  | $ | — |  |  | $ | 9,777 |  |  | $ | 761 |
Restricted units (2) |  |  | 10,214 |  |  |  | 119 |  |  |  | 190 |  |  |  | 10,523 |  |  |  | 741 |
Share options |  |  | 4,893 |  |  |  | 323 |  |  |  | 1,619 |  |  |  | 6,835 |  |  |  | — |
ESPP discount |  |  | 681 |  |  |  | 66 |  |  |  | — |  |  |  | 747 |  |  |  | — |
Total |  | $ | 24,997 |  |  | $ | 1,076 |  |  | $ | 1,809 |  |  | $ | 27,882 |  |  | $ | 1,502 |
|  | Year Ended December 31, 2016 |
|  | Compensation Expense |  |  | Compensation Capitalized |  |  | Restricted Units In-Lieu of Bonus (1) |  |  | Compensation Equity |  |  | Dividends Incurred |
Restricted shares (2) |  | $ | 13,539 |  |  | $ | 1,477 |  |  | $ | — |  |  | $ | 15,016 |  |  | $ | 6,494 |
Restricted units (2) |  |  | 13,567 |  |  |  | 591 |  |  |  | 4,022 |  |  |  | 18,180 |  |  |  | 7,762 |
Share options |  |  | 2,839 |  |  |  | 593 |  |  |  | — |  |  |  | 3,432 |  |  |  | — |
ESPP discount |  |  | 585 |  |  |  | 65 |  |  |  | — |  |  |  | 650 |  |  |  | — |
Total |  | $ | 30,530 |  |  | $ | 2,726 |  |  | $ | 4,022 |  |  | $ | 37,278 |  |  | $ | 14,256 |
| (1) | The Company allows officers the ability to receive immediately vested restricted units (subject to the book-up provisions described above and a two-year hold restriction) in-lieu of any percentage of their annual cash bonus. Beginning in 2017, the Company allows eligible employees the ability to receive immediately vested share options in-lieu of any percentage of their annual cash bonus.
| (2) | Includes LTI plan awards granted under the executive compensation program.
Award Activity of the Share Incentive Plans | The table below summarizes the Award activity of the Share Incentive Plans for the three years ended December 31, 2018, 2017 and 2016:
|  | Common Shares Subject to Options |  |  | Weighted Average Exercise Price per Option |  |  | Restricted Shares |  |  | Weighted Average Fair Value per Restricted Share |  |  | Restricted Units |  |  | Weighted Average Fair Value per Restricted Unit |
Balance at December 31, 2015 |  |  | 5,734,365 |  |  | $ | 48.04 |  |  |  | 522,150 |  |  | $ | 63.67 |  |  |  | 888,725 |  |  | $ | 63.91 |
Awards granted (1) (5) |  |  | 154,016 |  |  | $ | 64.99 |  |  |  | 154,296 |  |  | $ | 75.19 |  |  |  | 289,273 |  |  | $ | 81.05 |
Awards exercised/vested (2) (3) (4) |  |  | (815,044 | ) |  | $ | 38.01 |  |  |  | (217,805 | ) |  | $ | 57.75 |  |  |  | (374,217 | ) |  | $ | 52.73 |
Awards forfeited |  |  | (10,512 | ) |  | $ | 63.43 |  |  |  | (6,607 | ) |  | $ | 70.73 |  |  |  | (1,524 | ) |  | $ | 86.35 |
Awards expired |  |  | (710 | ) |  | $ | 68.40 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Special dividend adjustment (6) |  |  | 960,986 |  |  | N/A |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at December 31, 2016 |  |  | 6,023,101 |  |  | $ | 42.05 |  |  |  | 452,034 |  |  | $ | 70.35 |  |  |  | 802,257 |  |  | $ | 75.26 |
Awards granted (1) (5) |  |  | 1,337,898 |  |  | $ | 60.88 |  |  |  | 93,867 |  |  | $ | 61.94 |  |  |  | 291,921 |  |  | $ | 68.57 |
Awards exercised/vested (2) (3) (4) |  |  | (846,137 | ) |  | $ | 37.26 |  |  |  | (165,744 | ) |  | $ | 58.04 |  |  |  | (192,644 | ) |  | $ | 54.16 |
Awards forfeited |  |  | (27,547 | ) |  | $ | 61.85 |  |  |  | (10,416 | ) |  | $ | 72.44 |  |  |  | (274 | ) |  | $ | 75.50 |
Awards expired |  |  | (3,483 | ) |  | $ | 65.91 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at December 31, 2017 |  |  | 6,483,832 |  |  | $ | 46.46 |  |  |  | 369,741 |  |  | $ | 73.67 |  |  |  | 901,260 |  |  | $ | 77.61 |
Awards granted (1) (5) |  |  | 1,730,942 |  |  | $ | 60.40 |  |  |  | 129,303 |  |  | $ | 62.25 |  |  |  | 267,074 |  |  | $ | 61.60 |
Awards exercised/vested (2) (3) (4) |  |  | (1,056,388 | ) |  | $ | 29.05 |  |  |  | (194,116 | ) |  | $ | 77.32 |  |  |  | (28,486 | ) |  | $ | 55.50 |
Awards forfeited |  |  | (38,133 | ) |  | $ | 60.74 |  |  |  | (5,503 | ) |  | $ | 65.77 |  |  |  | — |  |  | $ | — |
Awards expired |  |  | (8,018 | ) |  | $ | 59.70 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at December 31, 2018 |  |  | 7,112,235 |  |  | $ | 52.35 |  |  |  | 299,425 |  |  | $ | 66.52 |  |  |  | 1,139,848 |  |  | $ | 71.07 |
| (1) | The weighted average grant date fair value for Options granted during the years ended December 31, 2018, 2017 and 2016 was $6.17 per share, $5.86 per share and $11.09 per share, respectively.
| (2) | The aggregate intrinsic value of options exercised during the years ended December 31, 2018, 2017 and 2016 was $42.9 million, $25.6 million and $26.2 million, respectively. These values were calculated as the difference between the strike price of the underlying awards and the per share price at which each respective award was exercised.
| (3) | The fair value of restricted shares vested during the years ended December 31, 2018, 2017 and 2016 was $11.5 million, $10.2 million and $15.6 million, respectively.
| (4) | The fair value of restricted units vested during the years ended December 31, 2018, 2017 and 2016 was $1.8 million, $11.7 million and $27.2 million, respectively.
| (5) | Includes LTI plan awards granted under the executive compensation program.
| (6) | In addition to the regular quarterly dividends, the Company paid two special dividends to its shareholders and holders of OP Units of $11.00 per share/unit in the aggregate in 2016. Option holders were not entitled to these special dividends, but pursuant to the terms of the Share Incentive Plans are due equitable adjustments of additional options. The special dividend adjustment’s weighted average exercise price per option is reflected in the activity for 2016 for the awards granted, awards exercised/vested, and awards forfeited and the balance at December 31, 2016.
Information Regarding Options Outstanding and Exercisable | The following table summarizes information regarding options outstanding and exercisable at December 31, 2018 (aggregate intrinsic value is in thousands):
|  | Options |  |  | Weighted Average Remaining Contractual Life in Years |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic Value (1) |
Options Outstanding |  |  | 7,112,235 |  |  |  | 5.58 |  |  | $ | 52.35 |  |  | $ | 97,633 |
Options Exercisable |  |  | 5,328,020 |  |  |  | 4.52 |  |  | $ | 49.57 |  |  | $ | 88,031 |
Vested and expected to vest |  |  | 7,096,243 |  |  |  | 5.57 |  |  | $ | 52.33 |  |  | $ | 97,543 |
| (1) | The aggregate intrinsic values were calculated as the excess, if any, between the Company’s closing share price of $66.01 per share on December 31, 2018 and the strike price of the underlying awards.

X
- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ShareBasedCompensationAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration