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Share-Based Compensation (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2018
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]    
Summary of Performance Based Stock Options

Performance-based option activity under the 2007 SIP and the 2013 SIP for the period was as follows:

 

     Shares     Weighted
Average
Exercise
Price
(per share)
    Weighted
Average
Remaining
Contractual
Term
(in years)
     Aggregate
Intrinsic Value
(in millions)
 

Performance-based options outstanding at December 31, 2017

     1,038,147     $ 13.46       3.5      $ —    

Granted

     —         —         —          —    

Exercised

     (633,606     (13.46     —          —    

Forfeited or expired

     (8,358     (13.46     —          —    
  

 

 

   

 

 

   

 

 

    

 

 

 

Performance-based options outstanding at September 30, 2018

     396,183     $ 13.50       3.4      $ 11.3  

Performance-based options exercisable at September 30, 2018

     396,183     $ 13.50       3.4      $ 11.3  

Performance-based option activity for the period from December 31, 2014 to December 31, 2017, represents stock options granted under the 2013 HCM SIP.

 

    Shares     Weighted
Average
Exercise
Price
(per share)
    Weighted
Average
Remaining
Contractual
Term
(in years)
    Aggregate
Intrinsic Value
(in millions)
 

Options outstanding at December 31, 2014

    1,343,100     $ 13.46       6.3     $ —    

Granted

    —         —        

Exercised

    —         —        

Forfeited or expired

    (62,232     (13.46    
 

 

 

   

 

 

   

 

 

   

 

 

 

Options outstanding at December 31, 2015

    1,280,868     $ 13.46       5.2     $ —    

Granted

    —         —        

Exercised

    —         —        

Forfeited or expired

    (52,942     (13.46    
 

 

 

   

 

 

   

 

 

   

 

 

 

Options outstanding at December 31, 2016

    1,227,926     $ 13.46       4.2     $ —    

Granted

          —        

Exercised

    (167,202 )(a)      (13.46    

Forfeited or expired

    (25,077     (13.46    
 

 

 

   

 

 

   

 

 

   

 

 

 

Options outstanding at December 31, 2017

    1,035,647     $ 13.46       3.5     $ —    

 

(a)

During the year ended December 31, 2017, certain performance-based options were modified and exercised.

Summary of Term-Based Option Activity

Term-based option activity, including stock options under the 2007 SIP, the 2013 SIP and the 2018 EIP, for the period was as follows:

 

     Shares     Weighted
Average
Exercise
Price
(per share)
    Weighted
Average
Remaining
Contractual
Term
(in years)
     Aggregate
Intrinsic Value
(in millions)
 

Term-based options outstanding at December 31, 2017

     10,994,181     $ 16.52       6.9      $ 48.8  

Granted

     5,140,787       22.84       —          —    

Exercised

     (1,127,360     (13.73     —          —    

Forfeited or expired

     (166,747     (17.09     —          —    
  

 

 

   

 

 

   

 

 

    

 

 

 

Term-based options outstanding at September 30, 2018

     14,840,861     $ 18.66       7.6      $ 346.8  

Term-based options exercisable at September 30, 2018

     6,868,950     $ 16.70       5.8      $ 174.0  

Term-based option activity for the period from December 31, 2014 to December 31, 2017, represents stock options granted under the 2013 HCM SIP. As of December 31, 2017, there were 6,819,649 vested options.

 

     Shares      Weighted
Average
Exercise
Price
(per share)
     Weighted
Average
Remaining
Contractual
Term
(in years)
     Aggregate
Intrinsic Value
(in millions)
 

Options outstanding at December 31, 2014

     7,588,078      $ 15.98        8.2      $ 13.3  

Granted

     187,140        17.56        

Exercised

     —          —          

Forfeited or expired

     (168,060      (16.40      
  

 

 

    

 

 

    

 

 

    

 

 

 

Options outstanding at December 31, 2015

     7,607,158      $ 16.02        7.3      $ 14.1  

Granted

     2,339,238        16.80        

Exercised

     —          —          

Forfeited or expired

     (176,626      (16.54      
  

 

 

    

 

 

    

 

 

    

 

 

 

Options outstanding at December 31, 2016

     9,769,770      $ 16.20        7.1      $ 9.9  

Granted

     2,285,981        17.46        

Exercised

     (595,464      (15.14      

Forfeited or expired

     (468,606      (16.10      
  

 

 

    

 

 

    

 

 

    

 

 

 

Options outstanding at December 31, 2017

     10,991,681      $ 16.52        6.9      $ 48.8  

Options exercisable at December 31, 2017

     6,819,649      $ 16.14        5.5      $ 32.9  
Summary of Restricted Stock Units

Restricted stock units (“RSUs”) activity, including RSUs under the 2013 SIP and the 2018 EIP, for the period was as follows:

 

     Shares  

RSUs outstanding at December 31, 2017

     605,990  

Granted

     159,323  

Shares issued upon vesting of RSUs

     (105,990

Forfeited or canceled

     —    
  

 

 

 

RSUs outstanding at September 30, 2018

     659,323  

RSUs releasable at September 30, 2018

     125,000  

Restricted stock units (“RSUs”) activity for the period from December 31, 2014 to December 31, 2017, represents restricted stock units granted under the 2013 HCM SIP.

 

     Shares  

RSUs outstanding at December 31, 2014

     —    

Granted

     228,572  

Shares issued upon vesting of RSUs

     —    

Forfeited or canceled

     —    
  

 

 

 

RSUs outstanding at December 31, 2015

     228,572  

Granted

     29,800  

Shares issued upon vesting of RSUs

     (76,192

Forfeited or canceled

     —    
  

 

 

 

RSUs outstanding at December 31, 2016

     182,180  

Granted

     500,000  

Shares issued upon vesting of RSUs

     (76,190

Forfeited or canceled

     —    
  

 

 

 

RSUs outstanding at December 31, 2017

     605,990  
Schedule of Other Term-Based Option Activity  

Other information pertaining to term-based options is as follows:

 

     Year Ended December 31,  
       2017          2016          2015    

Weighted average grant date fair value per share

   $ 5.88      $ 5.74      $ 5.68  
Schedule of Other Term-Based Option Activity  

The fair value of the term-based stock options was estimated at the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:

 

     Year Ended December 31,  
       2017       2016         2015    

Expected volatility

     30.0     30.0     33.0

Expected dividend rate

     —         —         —    

Risk-free interest rate

     2.3     1.9     2.1
Schedule of Other Class D Stock Options  

Other information pertaining to restricted stock units is as follows:

 

     Year Ended December 31,  
     2017      2016      2015  

Weighted average grant date fair value per share

   $ 17.26      $ 17.40      $ 17.50