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Share-Based Compensation | 12 Months Ended
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Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share-Based Compensation | Share-Based Compensation Federated's long-term stock-incentive compensation has been provided for under the Stock Incentive Plan (the Plan), as amended and subsequently approved by shareholders from time to time. Share-based awards are granted to reward Federated's employees and non-management directors who have contributed to the success of Federated and to provide incentive to increase their efforts on behalf of Federated. Since the Plan's inception, a total of 27.1 million shares of Class B common stock have been authorized for granting share-based awards in the form of restricted stock, stock options or other share-based awards. As of December 31, 2017, 1.7 million shares are available under the Plan. Share-based compensation expense was $22.5 million, $22.4 million and $22.7 million for the years ended December 31, 2017, 2016 and 2015, respectively. The associated tax benefits recorded in connection with share-based compensation expense were $8.4 million, $8.4 million and $8.5 million for the years ended December 31, 2017, 2016 and 2015, respectively. At December 31, 2017, the maximum remaining unrecognized compensation expense related to share-based awards approximated $74 million which is expected to be recognized over a weighted-average period of approximately 6 years. Federated's restricted stock awards represent shares of Federated Class B common stock that may be sold by the awardee only once the restrictions lapse, as dictated by the terms of the award. The awards are generally subject to graded vesting schedules that vary in length from three to ten years with a portion of the award vesting each year, as dictated by the terms of the award. For an award with a ten-year vesting period, the restrictions on the vested portion of the award typically lapse on the award's fifth- and tenth-year anniversaries. Certain restricted stock awards granted pursuant to a key employee bonus program have a three-year graded vesting schedule with restrictions lapsing at each vesting date. During the period of restriction, the recipient receives dividends on all shares awarded, regardless of their vesting status. The following table summarizes activity of non-vested restricted stock awards for the year ended December 31, 2017:
|  | Restricted Shares |  |  | Weighted- Average Grant- Date Fair Value |
Non-vested at January 1, 2017 |  | 4,025,570 |  |  |  | $ | 24.58 |
Granted 1 |  | 946,570 |  |  |  | 27.20 |
Vested |  | (879,515 | ) |  |  | 26.39 |
Forfeited |  | (114,192 | ) |  |  | 21.96 |
Non-vested at December 31, 2017 |  | 3,978,433 |  |  |  | $ | 24.90 |
1 | During 2017, Federated awarded 513,570 shares of restricted Federated Class B common stock in connection with a bonus program in which certain key employees received a portion of their bonus in the form of restricted stock under the Plan. This restricted stock, which was granted on the bonus payment date and issued out of treasury, generally vests over a three-year period. Also during 2017, Federated awarded 433,000 shares of restricted Federated Class B common stock to certain key employees. These restricted stock awards generally vest over a ten-year period.
Federated awarded 946,570 shares of restricted Federated Class B common stock with a weighted-average grant-date fair value of $27.20 to employees during 2017; awarded 943,160 shares of restricted Federated Class B common stock with a weighted-average grant-date fair value of $26.56 to employees during 2016; and awarded 863,137 shares of restricted Federated Class B common stock with a weighted-average grant-date fair value of $31.07 to employees during 2015. The total fair value of restricted stock vested during 2017, 2016 and 2015 was $23.9 million, $23.9 million and $28.8 million, respectively.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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