XML 23 R25.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Stock-Based Compensation Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Employee Stock Purchase Plan | The following table summarizes shares sold to employees under the 2014 Plan and the prior plan in the years ended December 31, 2014, 2013 and 2012.
Plan | 2014 |  | 2013 |  | 2012 | Cumulative Shares Issued in 2014 | Weighted Average Fair Value 2013
2013 Employee Stock Purchase Plan | 137,028 |  |  | 102,924 |  |  | — |  | 239,952 |  | $ | 12.99 |
2003 Employee Stock Purchase Plan | — |  |  | 52,340 |  |  | 204,996 |  | 2,400,000 |  | $ | 8.51 |
Total shares sold to employees | 137,028 |  |  | 155,264 |  |  | 204,996 |  |  |
Employee Stock Option Plan |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Weighted-Average Assumptions | The fair value of each option grant in the Employee Stock Option Plan was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions for the indicated periods:
| 2014 |  | 2013 |  | 2012
Dividend yield (1) | 2.3 | % |  | 2.6 | % |  | 2.7 | %
Expected volatility (2) | 38.5 | % |  | 44.7 | % |  | 45.5 | %
Risk-free interest rate (3) | 1.7 | % |  | 1.3 | % |  | 0.8 | %
Expected term of options (in years) (4) | 4.2 |  |  | 4.0 |  |  | 4.1 |
Weighted-average grant-date fair value | $ | 4 |  |  | $ | 4 |  |  | $ | 3 |
(1) Represents the Company's estimated cash dividend yield over the expected term of option grant.
(2) | Amount is determined based on analysis of historical price volatility of the Company's common stock. The expected volatility is based on the daily percentage change in the price of the stock over a period equal to the expected term of the option grant.
(3) Represents the U.S. Treasury yield over the expected term of the option grant.
(4) | Represents the period of time that options granted are expected to be outstanding. Based on analysis of historical option exercise activity, the Company has determined that all employee groups exhibit similar exercise and post-vesting termination behavior.
Summary of Stock Option Activity | A summary of the status of the Company’s employee stock option plan at December 31, 2014, 2013 and 2012, and changes during the same periods are presented in the tables and narrative below and have been adjusted to reflect the 2 for 1 common stock split effected in the form of a 100% stock dividend on December 31, 2014.
| 2014
| Shares (000) |  | Wtd. Avg. Ex. Price |  | Wtd. Avg. Remaining Contract Life |  | Aggregate Intrinsic Value (000)
Outstanding at Beginning of Year | 18,000 |  |  | $ | 12 |  |  |  |  |
Granted | 5,757 |  |  | 15 |  |  |  |  |
Exercised | (5,224 | ) |  | 11 |  |  |  |  | $ | 26,618 |
Forfeited | (704 | ) |  | 13 |  |  |  |  |
Outstanding at End of Year | 17,829 |  |  | 13 |  |  | 3.5 Yrs |  | $ | 90,759 |
Exercisable at End of Year | 4,564 |  |  | $ | 12 |  |  | 2.3 Yrs |  | $ | 28,342 |
| 2013
| Shares (000) |  | Wtd. Avg. Ex. Price |  | Wtd. Avg. Remaining Contract Life |  | Aggregate Intrinsic Value (000)
Outstanding at Beginning of Year | 17,722 |  |  | $ | 11 |  |  |  |  |
Granted | 5,462 |  |  | 13 |  |  |  |  |
Exercised | (4,450 | ) |  | 8 |  |  |  |  | $ | 20,884 |
Forfeited | (734 | ) |  | 12 |  |  |  |  |
Outstanding at End of Year | 18,000 |  |  | 12 |  |  | 3.4 Yrs |  | $ | 85,633 |
Exercisable at End of Year | 5,490 |  |  | $ | 12 |  |  | 2.3 Yrs |  | $ | 28,302 |
| 2012
| Shares (000) |  | Wtd. Avg. Ex. Price |  | Wtd. Avg. Remaining Contract Life |  | Aggregate Intrinsic Value (000)
Outstanding at Beginning of Year | 15,110 |  |  | $ | 11 |  |  |  |  |
Granted | 5,282 |  |  | 10 |  |  |  |  |
Exercised | (1,378 | ) |  | 8 |  |  |  |  | $ | 3,810 |
Forfeited | (1,292 | ) |  | 11 |  |  |  |  |
Outstanding at End of Year | 17,722 |  |  | 11 |  |  | 3.4 Yrs |  | $ | 11,730 |
Exercisable at End of Year | 6,006 |  |  | $ | 10 |  |  | 2.2 Yrs |  | $ | 7,617 |
Schedule of Non-Vested Stock Option Activity | A summary of the status of the Company’s non-vested employee stock option activity for the years ended December 31, 2014, 2013, and 2012, are presented in the table and narrative below:
| 2014 |  | 2013 |  | 2012
| Shares (000) |  | Wtd. Avg Grant Date Fair Value |  | Shares (000) |  | Wtd. Avg Grant Date Fair Value |  | Shares (000) |  | Wtd. Avg Grant Date Fair Value
Nonvested Stock Options at Beginning of Year | 12,508 |  |  | $ | 4 |  |  | 11,716 |  |  | $ | 3 |  |  | 11,060 |  |  | $ | 3 |
Granted | 5,757 |  |  | 4 |  |  | 5,462 |  |  | 4 |  |  | 5,282 |  |  | 3 |
Vested | (4,346 | ) |  | 3 |  |  | (4,044 | ) |  | 3 |  |  | (3,872 | ) |  | 3 |
Forfeited | (654 | ) |  | 4 |  |  | (626 | ) |  | 4 |  |  | (754 | ) |  | 3 |
Nonvested Stock Options at End of Year | 13,265 |  |  | $ | 4 |  |  | 12,508 |  |  | $ | 4 |  |  | 11,716 |  |  | $ | 3 |
Non-Employee Director Stock Option Plan |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Weighted-Average Assumptions | The fair value of each option grant in the Non-employee Director Stock Option Plans was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions for the indicated periods:
| 2014 |  | 2013 |  | 2012
Dividend yield (1) | 2.2 | % |  | 2.7 | % |  | 2.6 | %
Expected volatility (2) | 39.6 | % |  | 45.9 | % |  | 44.5 | %
Risk-free interest rate (3) | 2.5 | % |  | 1.9 | % |  | 1.7 | %
Expected term of options (in years) (4) | 6.4 |  |  | 7.0 |  |  | 6.8 |
Weighted-average grant-date fair value | $ | 5 |  |  | $ | 5 |  |  | $ | 4 |
(1) Represents the Company's estimated cash dividend yield over the expected term of option grant.
(2) | Amount is determined based on analysis of historical price volatility of the Company's common stock. The expected volatility is based on the daily percentage change in the price of the stock over a period equal to the expected term of the option grant.
(3) Represents the U.S. Treasury yield over the expected term of the option grant.
(4) | Represents the period of time that options granted are expected to be outstanding. Based on analysis of historical option exercise activity, the Company has determined that non-employee directors exhibit similar exercise and post-vesting termination behavior.
Summary of Stock Option Activity | A summary of the status of the Company’s Non-employee Director Stock Option Plan at December 31, 2014, 2013, and 2012, and changes during the same periods are presented in the tables and narrative below:
| 2014
| Shares (000) |  | Wtd. Avg. Ex. Price |  | Wtd. Avg. Remaining Contract Life |  | Aggregate Intrinsic Value (000)
Outstanding at Beginning of Year | 462 |  |  | $ | 11 |  |  |  |  |
Granted | 98 |  |  | 14 |  |  |  |  |
Exercised | (167 | ) |  | 10 |  |  |  |  | $ | 893 |
Forfeited | (12 | ) |  | 16 |  |  |  |  |
Outstanding at End of Year | 381 |  |  | 12 |  |  | 6.7 Yrs |  | $ | 2,137 |
Exercisable at End of Year | 381 |  |  | $ | 12 |  |  | 6.7 Yrs |  | $ | 2,137 |
| 2013
| Shares (000) |  | Wtd. Avg. Ex. Price |  | Wtd. Avg. Remaining Contract Life |  | Aggregate Intrinsic Value (000)
Outstanding at Beginning of Year | 468 |  |  | $ | 11 |  |  |  |  |
Granted | 84 |  |  | 12 |  |  |  |  |
Exercised | (90 | ) |  | 10 |  |  |  |  | $ | 300 |
Forfeited | — |  |  | — |  |  |  |  |
Outstanding at End of Year | 462 |  |  | 11 |  |  | 6.4 Yrs |  | $ | 2,491 |
Exercisable at End of Year | 462 |  |  | $ | 11 |  |  | 6.4 Yrs |  | $ | 2,491 |
| 2012
| Shares (000) |  | Wtd. Avg. Ex. Price |  | Wtd. Avg. Remaining Contract Life |  | Aggregate Intrinsic Value (000)
Outstanding at Beginning of Year | 384 |  |  | $ | 11 |  |  |  |  |
Granted | 84 |  |  | 11 |  |  |  |  |
Exercised | — |  |  | — |  |  |  |  |  |
Forfeited | — |  |  | — |  |  |  |  |
Outstanding at End of Year | 468 |  |  | 11 |  |  | 6.4 Yrs |  | $ | 225 |
Exercisable at End of Year | 468 |  |  | $ | 11 |  |  | 6.4 Yrs |  | $ | 225 |
Schedule of Non-Vested Stock Option Activity | A summary of the status of the Company’s nonvested Nonemployee Director Stock Option Plan activity for the years ended December 31, 2014, 2013, and 2012, are presented in the table and narrative below:
| 2014 |  | 2013 |  | 2012
| Shares (000) |  | Wtd. Avg Grant Date Fair Value |  | Shares (000) |  | Wtd. Avg Grant Date Fair Value |  | Shares (000) |  | Wtd. Avg Grant Date Fair Value
Nonvested Stock Options at Beginning of Year | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |
Granted | 98 |  |  | 5 |  |  | 84 |  |  | 5 |  |  | 84 |  |  | 4 |
Vested | (98 | ) |  | 5 |  |  | (84 | ) |  | 5 |  |  | (84 | ) |  | 4 |
Forfeited | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Nonvested stock options at End of Year | — |  |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | $ | — |

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of employee stock purchase plan activity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_PlanNameAxis=gntx_EmployeeStockOptionPlanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_PlanNameAxis=gntx_NonEmployeeDirectorStockOptionPlanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |