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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Components of Stock-Based Compensation Expense | The following table summarizes the expenses and associated income tax benefits recognized (in millions):
| Years Ended December 31,
| 2017 |  | 2016 |  | 2015
Compensation expense | $ | 10.1 |  |  | $ | 5.5 |  |  | $ | 2.7 |
Income tax benefit | (2.5 | ) |  | (2.1 | ) |  | (1.1 | )
Total | $ | 7.6 |  |  | $ | 3.4 |  |  | $ | 1.6 |
Summary of Weighted Average Assumptions used in Black Scholes Option Pricing Model | The weighted average assumptions used in the Black-Scholes option pricing model are as follows:
| Years Ended December 31,
| 2017 |  | 2016 |  | 2015
Expected volatility | N/A |  | 50% |  | 39.0%
Expected dividend yield | N/A |  | —% |  | —%
Expected term (years) | N/A |  | 4.8 |  | 5.0
Risk-free interest rate | N/A |  | 1.09% |  | 1.22%
Summary of Stock Option Activity | A summary of option activity under the Omnibus Plan is presented below.
| Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in millions of dollars) (a)
Outstanding at December 31, 2016 | 529,675 |  |  | $ | 37.90 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | (18,940 | ) |  | 37.50 |  |  |  |  |
Forfeited or expired | (70,093 | ) |  | 41.91 |  |  |  |  |
Outstanding at December 31, 2017 | 440,642 |  |  | $ | 37.25 |  |  |  |  |
Vested and Unvested Expected to Vest at December 31, 2017 | 292,051 |  |  | $ | 36.31 |  |  | 5.3 |  | 7.7
Exercisable at December 31, 2017 | 127,891 |  |  | $ | 39.91 |  |  | 4.6 |  | 3.0
(a) Market price per share on December 29, 2017, the last trading day of the year, was $62.61. The intrinsic value is zero for options with exercise prices above market value.
Stock Options by Exercise Price Range | Stock options as of December 31, 2017:
| Options Outstanding |  | Options Exercisable
Range of Exercise Prices | Number Outstanding |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Number Outstanding |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years)
$20.00-30.00 | 6,383 |  |  | $ | 27.58 |  |  | 1.3 |  |  | 6,383 |  |  | $ | 27.58 |  |  | 1.3 |
30.01-40.00 | 360,895 |  |  | 33.19 |  |  | 5.6 |  |  | 85,957 |  |  | 33.19 |  |  | 5.6 |
40.01-50.00 | 5,997 |  |  | 42.59 |  |  | 4.8 |  |  | 3,360 |  |  | 43.14 |  |  | 3.9 |
50.01-60.00 | 50,428 |  |  | 55.86 |  |  | 2.5 |  |  | 23,407 |  |  | 56.12 |  |  | 2.5 |
60.01-70.00 | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
70.01-80.00 | 16,939 |  |  | 70.14 |  |  | 2.1 |  |  | 8,784 |  |  | 70.14 |  |  | 2.1 |
| 440,642 |  |  | $ | 37.25 |  |  |  |  | 127,891 |  |  | $ | 39.91 |  |  |
Additional Information Pertaining to Option Activity | Additional information pertaining to stock option activity under the Omnibus Plan is as follows (in millions):
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
Aggregate intrinsic value of stock options exercised (a) | $ | 0.3 |  |  | $ | 0.1 |  |  | $ | — |
Cash received from the exercise of stock options (b) | 0.7 |  |  | 0.4 |  |  | — |
Tax benefit realized on exercise of stock options | 0.1 |  |  | — |  |  | — |
(a) | The intrinsic value is the difference between the market value of the shares on the exercise date and the exercise price of the option.
(b) | In addition to the cash received in the table above, cash received from exercise of stock options by Hertz Holdings employees prior to the Spin-Off for 2016 and 2015 was $9.6 million and $5.1 million, respectively, as reflected in the accompanying consolidated statements of cash flows.
Summary of PSU Activity | A summary of the PSU activity under the Omnibus Plan is presented below.
| Units |  | Weighted Average Grant Date Fair Value
Nonvested at December 31, 2016 | 144,964 |  |  | $ | 36.02 |
Granted | 122,428 |  |  | 47.88 |
Vested | — |  |  | — |
Forfeited | (20,215 | ) |  | 38.79 |
Nonvested at December 31, 2017 | 247,177 |  |  | $ | 41.67 |
Summary of RSU Activity | A summary of the RSU activity under the Omnibus Plan is presented below.
| Units |  | Weighted Average Grant Date Fair Value
Nonvested at December 31, 2016 | 297,898 |  |  | $ | 32.63 |
Granted | 194,598 |  |  | 45.61 |
Vested | (42,920 | ) |  | 37.44 |
Forfeited | (46,399 | ) |  | 37.39 |
Nonvested at December 31, 2017 | 403,177 |  |  | $ | 38.33 |

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- Definition Tabular disclosure of cash received from exercise of stock options and similar instruments granted under share-based payment arrangements and tax benefit from exercise of stock options. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=96867065&loc=SL79508275-113901 + Details
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- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. + 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 (h)(1) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=96867065&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://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=96867065&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for outstanding performance 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) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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