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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2018
Share-based Compensation [Abstract] |
Stock-Based Compensation Expense and Related Tax Benefit | Total stock-based compensation expense and the related tax benefit were as follows:
| 2018 |  | 2017 |  | 2016
| (in thousands)
Stock options | $ | 3,675 |  |  | $ | 2,695 |  |  | $ | 2,357 |
Restricted stock units | 26,859 |  |  | 17,738 |  |  | 14,723 |
Unrestricted stock awards | 729 |  |  | 974 |  |  | 955 |
Phantom stock units | 2,165 |  |  | 1,747 |  |  | 1,077 |
Total stock-based compensation | $ | 33,428 |  |  | $ | 23,154 |  |  | $ | 19,112 |
Related tax benefit | $ | 6,019 |  |  | $ | 5,034 |  |  | $ | 4,927 |
Employee Stock Options Activity | A summary of our stock option activity is as follows:
| Shares |  | Weighted Average Exercise Price per Share |  | Weighted Average Remaining Contractual Life |  | Aggregate Intrinsic Value |  | Weighted Average Grant Date Fair Value
| (in thousands) |  |  |  | (years) |  | (in thousands) |  |
Outstanding, January 1, 2016 | 1,180 |  |  | $ | 48.31 |  |  | 5.7 |  | $ | 405 |  |  |
Granted | 191 |  |  | 40.40 |  |  |  |  |  |  | $ | 13.27 |
Exercised | (58 | ) |  | 37.00 |  |  |  |  | 742 |  |  |
Forfeited | (36 | ) |  | 35.29 |  |  |  |  |  |  |
Expired | (318 | ) |  | 55.13 |  |  |  |  |  |  |
Outstanding, December 31, 2016 | 959 |  |  | $ | 45.64 |  |  | 6.6 |  | $ | 19,125 |  |  |
Granted | 135 |  |  | $ | 65.94 |  |  |  |  |  |  | $ | 21.99 |
Exercised | (41 | ) |  | 39.92 |  |  |  |  | $ | 1,071 |  |  |
Forfeited | (35 | ) |  | 47.38 |  |  |  |  |  |  |
Expired | (62 | ) |  | 70.12 |  |  |  |  |  |  |
Outstanding, December 31, 2017 | 956 |  |  | $ | 47.10 |  |  | 6.3 |  | $ | 21,965 |  |  |
Converted upon acquisition | 42 |  |  | $ | 51.86 |  |  |  |  |  |  | $ | 14.86 |
Granted | 122 |  |  | 68.21 |  |  |  |  |  |  | 24.29 |
Exercised | (152 | ) |  | 38.99 |  |  |  |  | $ | 4,520 |  |  |
Forfeited | (7 | ) |  | 60.03 |  |  |  |  |  |  |
Expired | (66 | ) |  | 95.31 |  |  |  |  |  |  |
Outstanding, December 31, 2018 | 895 |  |  | $ | 47.93 |  |  | 6.2 |  | $ | 4,806 |  |  |
Exercisable, December 31, 2018 | 629 |  |  | $ | 42.30 |  |  | 5.3 |  | $ | 4,417 |  |  |
Expected to vest, December 31, 2018 | 266 |  |  | $ | 61.23 |  |  | 8.4 |  | $ | 389 |  |  |
Stock Options, Valuation Assumptions | The weighted-average assumptions used to estimate the fair value of stock options granted and the resulting weighted average fair value are as follows:
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
Expected volatility | 30.5 | % |  | 32.5 | % |  | 33.5 | %
Risk-free interest rate | 2.8 | % |  | 2.0 | % |  | 1.3 | %
Expected term (years) | 6.1 |  |  | 5.5 |  |  | 5.5 |
Restricted Stock Units Award Activity | The following table summarizes restricted stock unit activity:
| Number of Restricted Stock Units |  | Weighted Average Grant Date Fair Value |  | Aggregate Intrinsic Value
| (in thousands) |  |  |  | (in thousands)
Outstanding, January 1, 2016 | 756 |  |  |  |  |
Granted | 306 |  |  | $ | 41.58 |  |  |
Released | (312 | ) |  |  |  | $ | 11,944 |
Forfeited | (49 | ) |  |  |  |
Outstanding, December 31, 2016 | 701 |  |  | $ | 38.04 |  |  |
Granted | 273 |  |  | $ | 50.95 |  |  |
Released | (372 | ) |  |  |  | $ | 14,219 |
Forfeited | (46 | ) |  |  |  |
Outstanding, December 31, 2017 | 556 |  |  | $ | 47.68 |  |  |
Converted upon acquisition | 579 |  |  | $ | 69.40 |  |  |
Granted | 387 |  |  | 57.48 |  |  |
Released | (593 | ) |  | 54.91 |  |  | $ | 32,567 |
Forfeited | (112 | ) |  | 67.88 |  |  |
Outstanding, December 31, 2018 | 817 |  |  | $ | 59.70 |  |  |
Vested but not released, December 31, 2018 | 124 |  |  |  |  | $ | 5,867 |
Expected to vest, December 31, 2018 | 643 |  |  |  |  | $ | 30,405 |
Restricted Stock Units, Valuation Assumptions | The weighted-average assumptions used to estimate the fair value of performance-based restricted stock units granted and the resulting weighted average fair value are as follows:
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
Expected volatility | 28.0 | % |  | 28.0 | % |  | 30.0 | %
Risk-free interest rate | 2.2 | % |  | 1.0 | % |  | 0.7 | %
Expected term (years) | 2.1 |  |  | 1.7 |  |  | 1.8 |
Weighted average grant date fair value | $ | 78.56 |  |  | $ | 77.75 |  |  | $ | 44.92 |
Schedule of Other Share-based Compensation, Activity | The following table summarizes phantom stock unit activity:
| Number of Phantom Stock Units |  | Weighted Average Grant Date Fair Value
| (in thousands) |  |
Outstanding, January 1, 2017 | 62 |  |  |
Granted | 32 |  |  | $ | 65.55 |
Released | (20 | ) |  |
Forfeited | (11 | ) |  |
Outstanding, December 31, 2017 | 63 |  |  |
Expected to vest, December 31, 2017 | 63 |  |  |
Outstanding, January 1, 2018 | 63 |  |  | $ | 62.53 |
Converted upon acquisition | 21 |  |  | 69.40 |
Granted | 41 |  |  | 66.67 |
Released | (35 | ) |  | 54.33 |
Forfeited | (7 | ) |  | 61.28 |
Outstanding, December 31, 2018 | 83 |  |  | $ | 61.80 |
Expected to vest, December 31, 2018 | 83 |  |  |

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