XML 27 R20.htm IDEA: XBRL DOCUMENT v3.5.0.2
Share-based Awards (Tables)
 9 Months Ended
Sep. 30, 2016
Summary of Stock Option Activity
The following table summarizes option activity for the nine months ended September 30, 2016:
 
   
Options
Outstanding
Number of Shares
    
Weighted
Average
Exercise
Price
    
Weighted
Average
Fair Value
    
Weighted
Average
 Remaining
 Contractual
Life
  
                         
Outstanding at December 31, 2015
    
1,626,582
    
$
34.87
    
$
11.94
        
                               
Granted
    
256,191
    
$
69.61
    
$
20.10
        
Exercised
    
(268,713
)
  
$
26.81
    
$
10.10
        
Forfeited
    
(19,825
)
  
$
30.96
    
$
11.47
        
                               
Outstanding at September 30, 2016
    
1,594,235
    
$
41.86
    
$
13.57
      
4.72
  
                                 
Exercisable at September 30, 2016
    
739,901
    
$
29.35
    
$
10.63
      
3.38
  
 
Summary of Movement in Non-Vested Share Options
The following table summarizes the movement in non-vested share options for the nine months ended September 30, 2016:
 
   
Options
Outstanding
Number of Shares
    
Weighted Average
 Exercise Price
    
Weighted Average
 Fair Value
  
                   
Non vested outstanding at December 31, 2015
    
968,853
    
$
42.14
    
$
13.69
  
                         
Granted
    
256,191
    
$
69.61
    
$
20.10
  
Vested
    
(353,888
)
  
$
37.04
    
$
12.58
  
Forfeited
    
(16,822
)
  
$
32.27
    
$
11.78
  
                         
Non vested outstanding at  September 30, 2016
    
854,334
    
$
52.69
    
$
16.11
  
Weighted Average Fair Values and Assumptions Used
The weighted average fair values and assumptions used were as follows:

   
Nine Months Ended
  
   
September
30,
    
September
30,
  
   
2016
    
2015
  
             
Weighted average fair value
  
$
20.10
    
$
19.75
  
                 
Assumptions:
                
Expected volatility
    
30
%
    
30
%
Dividend yield
    
0
%
    
0
%
Risk-free interest rate
    
1.39
%
    
1.58
%
Expected life
  
5 years
    
5 years
  
RSU and PSU Activity
The following table summarizes RSU and PSU activity for the nine months ended September 30, 2016:

   
PSU
 Outstanding
Number of
 Shares
    
PSU
Weighted
 Average
Fair Value
    
PSU
Weighted
 Average
 Remaining
 Contractual
 Life
    
RSU
 Outstanding
Number of
 Shares
    
RSU
Weighted
 Average
Fair Value
    
RSU
Weighted
 Average
 Remaining
 Contractual
 Life
  
                                     
Outstanding at December 31, 2015
    
901,773
    
$
48.33
      
1.22
      
1,067,613
    
$
48.30
      
1.48
  
                                                 
Granted
    
247,992
    
$
71.58
              
373,630
    
$
66.93
          
Shares vested
    
(311,492
)
  
$
33.09
              
(292,229
)
  
$
35.92
          
Forfeited
    
(7,750
)
  
$
56.58
              
(108,504
)
  
$
51.96
          
                                                 
Outstanding at September 30, 2016
    
830,523
    
$
60.73
      
1.36
      
1,040,510
    
$
58.09
      
1.62
  
Schedule of Non-cash Stock Compensation Expense
Non-cash stock compensation expense for the three and nine months ended September 30, 2016 has been allocated as follows:
 
   
Three Months Ended
    
Nine Months Ended
  
   
September
30,
    
September
30,
    
September
30,
    
September
30,
  
   
2016
    
2015
    
2016
    
2015
  
   
(In thousands)
    
(In thousands)
  
Direct costs
  
$
5,755
    
$
4,976
    
$
16,830
    
$
12,942
  
Selling, general and administrative
    
4,690
      
4,055
      
14,305
      
11,101
  
                                 
   
$
10,445
    
$
9,031
    
$
31,135
    
$
24,043