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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Summarized information about stock options outstanding | Summarized information about stock options outstanding at December 31, 2019 under the 2003 Plan, the 2012 Incentive Plan and the 2019 Incentive Plan (collectively, the “LTIPs”) is as follows.
|  | Number of options (in thousands) |  | Weighted average exercise price
Options outstanding at December 31, 2018 |  | 3,225 |  |  | $ | 23.48 |
Options granted |  | 540 |  |  | $ | 14.80 |
Options exercised |  | (223 | ) |  | $ | 14.93 |
Options forfeited |  | (10 | ) |  | $ | 27.91 |
Options expired |  | (272 | ) |  | $ | 23.22 |
Options outstanding at December 31, 2019 |  | 3,260 |  |  | $ | 22.64 |
Summarized information about outstanding and exercisable stock option |
|  | Options outstanding at December 31, 2019 |  | Options exercisable at December 31, 2019
Range of exercise prices |  | Shares outstanding (in thousands) |  | Weighted average remaining contractual life |  | Weighted average exercise price |  | Shares exercisable (in thousands) |  | Weighted average exercise price
$9.00 |  | 65 |  |  | 0.14 |  | $ | 9.00 |  |  | 65 |  |  | $ | 9.00 |
$13.22 - $15.40 |  | 933 |  |  | 3.74 |  | $ | 14.87 |  |  | 395 |  |  | $ | 14.97 |
$20.01 - $22.70 |  | 663 |  |  | 0.20 |  | $ | 21.94 |  |  | 658 |  |  | $ | 21.95 |
$25.31 - $29.68 |  | 1,599 |  |  | 3.37 |  | $ | 28.01 |  |  | 897 |  |  | $ | 27.66 |
Summary of the non-vested restricted stock and restricted stock units | A summary of the non-vested equity-based restricted stock and restricted stock units as of December 31, 2019 is presented below (in thousands, except fair value).
|  | Restricted Stock |  | Restricted Stock Units
|  | Service Based |  | Service Based |  | Performance Based
Non-vested restricted stock and restricted stock units |  | Shares |  | Weighted average fair value |  | Shares |  | Weighted average fair value |  | Shares |  | Weighted average fair value
Non-vested at December 31, 2018 |  | 1,356 |  |  | $ | 25.87 |  |  | 58 |  |  | $ | 27.48 |  |  | — |  |  | $ | — |
Granted |  | 240 |  |  | $ | 19.36 |  |  | 100 |  |  | $ | 16.06 |  |  | 428 |  |  | $ | 20.00 |
Vested |  | (674 | ) |  | $ | 23.02 |  |  | (57 | ) |  | $ | 27.47 |  |  | — |  |  | $ | — |
Forfeited |  | (25 | ) |  | $ | 28.39 |  |  | (9 | ) |  | $ | 17.31 |  |  | — |  |  | $ | — |
Non-vested at December 31, 2019 |  | 897 |  |  | $ | 26.19 |  |  | 92 |  |  | $ | 16.06 |  |  | 428 |  |  | $ | 20.00 |
2003 Stock and Incentive Plan |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Weighted average assumptions used to estimate fair value of stock options granted under the Stock and Incentive Plan | The fair value of the 65,000, 67,500 and 75,000 stock option awards outstanding under the 2003 Plan at December 31, 2019, 2018 and 2017, respectively, was estimated using the following weighted average assumptions.
|  | 2019 |  | 2018 |  | 2017
Stock option pricing model |  | Black Scholes Merton |  | Black Scholes Merton |  | Black Scholes Merton
Expected option life |  | 0.14 years |  | 1.14 years |  | 2.14 years
Risk-free interest rate |  | 1.54% |  | 2.48% |  | 1.98%
Volatility |  | 32.38% |  | 37.94% |  | 43.60%
Dividend yield |  | —% |  | —% |  | —%
Estimated forfeiture rate |  | —% |  | —% |  | —%
2012 Incentive Plan |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Weighted average assumptions used to estimate fair value of stock options granted under the Stock and Incentive Plan | The weighted average grant date fair value for stock option awards granted under the 2012 Incentive Plan and the 2019 Incentive Plan were estimated using the following weighted average assumptions during the years ended December 31, 2019, 2018 and 2017.
|  | 2019 |  | 2018 |  | 2017
Stock option pricing model |  | Black Scholes Merton |  | Black Scholes Merton |  | Black Scholes Merton
Expected option life |  | 4.00 years |  | 4.00 years |  | 4.00 years
Risk-free interest rate |  | 1.46% |  | 2.51% |  | 1.77%
Volatility |  | 48.52% |  | 45.17% |  | 47.00%
Dividend yield |  | —% |  | —% |  | —%
Estimated forfeiture rate |  | 4.43% |  | 2.24% |  | 3.66%
Weighted average fair value of stock option awards granted during the year |  | $5.04 |  | $12.64 |  | $10.49

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- 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=116856206&loc=d3e5070-113901 + Details
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- 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=116856206&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=116856206&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=116856206&loc=d3e5070-113901 + Details
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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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