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Stock-Based Compensation | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract] |
Stock-Based Compensation | We grant stock-based compensation awards, including stock options, restricted stock units, phantom stock, and unrestricted stock units, under the Second Amended and Restated 2010 Stock Incentive Plan (Stock Incentive Plan). In the Stock Incentive Plan, we have 12,623,538 shares of common stock reserved and authorized for issuance subject to stock splits, dividends, and other similar events, and at December 31, 2020, 5,597,418 shares were available for grant. We issue new shares of common stock upon the exercise of stock options or when vesting conditions on restricted stock units are fully satisfied. These shares are subject to a fungible share provision such that the authorized share available for grant is reduced by (i) one share for every one share subject to a stock option or share appreciation right granted under the Plan and (ii) 1.7 shares for every one share of common stock that was subject to an award other than an option or share appreciation right. We also periodically award phantom stock units, which are settled in cash upon vesting and accounted for as liability-based awards, with no impact to the shares available for grant. In addition, we maintain the ESPP, for which 178,159 shares of common stock were available for future issuance at December 31, 2020. ESPP activity and stock-based grants other than stock options and restricted stock units were not significant for the years ended December 31, 2020, 2019, and 2018. Stock-Based Compensation Expense Total stock-based compensation expense and the related tax benefit were as follows:
| Year Ended December 31,
In thousands | 2020 |  | 2019 |  | 2018
Stock options | $ | 1,944 |  |  | $ | 1,770 |  |  | $ | 3,675 |
Restricted stock units | 22,285 |  |  | 24,560 |  |  | 26,859 |
Unrestricted stock awards | 824 |  |  | 630 |  |  | 729 |
Phantom stock units | 3,720 |  |  | 3,301 |  |  | 2,165 |
Total stock-based compensation | $ | 28,773 |  |  | $ | 30,261 |  |  | $ | 33,428 |
Related tax benefit | $ | 5,086 |  |  | $ | 5,390 |  |  | $ | 6,019 |
Stock Options 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, 2018 | 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 |  |  |
Granted | 76 |  |  | 76.55 |  |  |  |  |  |  | $ | 26.20 |
Exercised | (489) |  |  | 43.55 |  |  |  |  | 15,759 |  |  |
Forfeited | (13) |  |  | 67.34 |  |  |  |  |  |  |
Expired | (11) |  |  | 66.24 |  |  |  |  |  |  |
Outstanding, December 31, 2019 | 458 |  |  | $ | 56.38 |  |  | 7.0 |  | $ | 12,641 |  |  |
Granted | 83 |  |  | 84.39 |  |  |  |  |  |  | $ | 26.37 |
Exercised | (103) |  |  | 53.99 |  |  |  |  | 2,061 |  |  |
Forfeited | (5) |  |  | 83.94 |  |  |  |  |  |  |
Outstanding, December 31, 2020 | 433 |  |  | $ | 61.95 |  |  | 6.9 |  | $ | 14,697 |  |  |
Exercisable, December 31, 2020 | 268 |  |  | $ | 51.85 |  |  | 5.8 |  | $ | 11,810 |  |  |
At December 31, 2020, total unrecognized stock-based compensation expense related to nonvested stock options was $2.6 million, which is expected to be recognized over a weighted average period of approximately 1.9 years. 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,
| 2020 |  | 2019 |  | 2018
Expected volatility | 32.3 | % |  | 31.7 | % |  | 30.5 | %
Risk-free interest rate | 1.3 | % |  | 1.7 | % |  | 2.8 | %
Expected term (years) | 5.3 |  | 6.1 |  | 6.1
Restricted Stock Units 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, 2018 | 556 |  |  | $ | 47.68 |  |  |
Converted upon acquisition | 579 |  |  | 69.40 |  |  |
Granted | 387 |  |  | 57.48 |  |  |
Released (1) | (593) |  |  |  |  | $ | 32,567 |
Forfeited | (112) |  |  |  |  |
Outstanding, December 31, 2018 | 817 |  |  | $ | 59.70 |  |  |
Granted | 404 |  |  | 62.97 |  |  |
Released (1) | (471) |  |  |  |  | $ | 29,304 |
Forfeited | (66) |  |  |  |  |
Outstanding, December 31, 2019 | 684 |  |  | $ | 64.38 |  |  |
Granted | 262 |  |  | 83.42 |  |  |
Released (1) | (363) |  |  | 65.25 |  |  | $ | 23,702 |
Forfeited | (39) |  |  | 71.96 |  |  |
Outstanding, December 31, 2020 | 544 |  |  | $ | 71.79 |  |  |
Vested but not released, December 31, 2020 | 50 |  |  |  |  | $ | 4,836 |
(1) Shares released is presented as gross shares and does not reflect shares withheld by us for employee payroll tax obligations. At December 31, 2020, total unrecognized compensation expense on restricted stock units was $25.9 million, which is expected to be recognized over a weighted average period of approximately 1.7 years. The weighted average assumptions used to estimate the fair value of performance-based restricted stock units granted with a service and market condition and the resulting weighted average fair value are as follows:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Expected volatility | 44.9 | % |  | 31.4 | % |  | 28.0 | %
Risk-free interest rate | 1.0 | % |  | 2.5 | % |  | 2.2 | %
Expected term (years) | 1.8 |  | 1.6 |  | 2.1
Weighted average fair value | $ | 93.97 |  |  | $ | 61.25 |  |  | $ | 78.56 |
Phantom Stock Units The following table summarizes phantom stock unit activity:
| Number of Phantom Stock Units |  | Weighted Average Grant Date Fair Value |  | Aggregate Intrinsic Value
| In thousands |  |  |  | In thousands
Outstanding, January 1, 2018 | 63 |  |  | $ | 62.53 |  |  |
Converted upon acquisition | 21 |  |  |  |  |
Granted | 41 |  |  | 66.67 |  |  |
Released | (35) |  |  |  |  | $ | 2,409 |
Forfeited | (7) |  |  |  |  |
Outstanding, December 31, 2018 | 83 |  |  | $ | 61.80 |  |  |
Converted upon acquisition | — |  |  |  |  |
Granted | 55 |  |  | 60.49 |  |  |
Released | (42) |  |  |  |  | $ | 2,625 |
Forfeited | (7) |  |  |  |  |
Outstanding, December 31, 2019 | 89 |  |  | $ | 62.85 |  |  |
Granted | 38 |  |  | 87.27 |  |  |
Released | (40) |  |  | 63.87 |  |  | $ | 2,971 |
Forfeited | (5) |  |  | 70.99 |  |  |
Outstanding, December 31, 2020 | 82 |  |  | $ | 73.13 |  |  |
At December 31, 2020, total unrecognized compensation expense on phantom stock units was $5.2 million, which is expected to be recognized over a weighted average period of approximately 1.8 years. As of December 31, 2020 and 2019, we have recognized a phantom stock liability of $2.7 million and $2.3 million within wages and benefits payable in the Consolidated Balance Sheets.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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