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Stock-Based Incentive Plans

6 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Incentive Plans

Note 13. Stock-Based Incentive Plans

Stock-based incentive plans compensation expense (in thousands):

		Three Months Ended June 30,								Six Months Ended June 30,
		2018				2017				2018				2017
Service-based stock appreciation rights ("SARs")		$	2,675			$	1,731			$	4,023			$	3,331
Service-based restricted stock units ("RSUs")		2,634				2,114				4,790				4,318
Market performance-based restricted stock units		959				170				1,305				174
Operating performance-based restricted stock units		1,185				371				2,032				407
Total stock-based compensation expense		$	7,453			$	4,386			$	12,150			$	8,230

During the six months ended June 30, 2018, we issued stock-based compensatory awards with contract terms agreed upon by us and the respective individuals, as approved by the Compensation Committee of our Board of Directors. The awards with service conditions generally vest ratably over four years, subject to forfeiture unless service conditions are met. Market performance-based awards cliff vest after three years subject to the rank of our total shareholder’s return for the three-year period ending December 31, 2020 relative to the total shareholder returns for a peer group of companies. Operating performance-based awards cliff vest after three years subject to the achievement of certain thresholds of cumulative adjusted free cash flow for the three year period ending 2020. Compensation expense related to awards granted during 2018 for the three and six months ended June 30, 2018 was $3.4 million and $3.9 million, respectively.

Stock-based compensation agreements issued during the six months ended June 30, 2018, representing potential shares and their weighted average grant date fair values by type follows (shares in thousands, fair value in dollars):

		Six Months Ended June 30, 2018
		Shares			Weighted Average Grant Date Fair Value
Service-based SARs		634			$	27.87
Service-based RSUs		227			$	91.91
Market performance-based RSUs		41			$	99.97
Operating performance-based RSUs		41			$	88.38

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI http://asc.fasb.org/topic&trid=2228938

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-URI http://asc.fasb.org/subtopic&trid=2208855

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