XML 68 R54.htm IDEA: XBRL DOCUMENT v3.10.0.1
EMPLOYEE STOCK COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
The following table presents stock-based compensation expense and the related tax benefits for the periods indicated:
 
 
Year Ended December 31,
($ in thousands)
 
2018
 
2017
 
2016
Stock options
 
$
174

 
$
360

 
$
531

Restricted stock awards and units
 
6,391

 
11,732

 
11,398

Stock appreciation rights
 
—

 
42

 
18

Total stock-based compensation expense
 
$
6,565

 
$
12,134

 
$
11,947

Related tax benefits
 
$
1,929

 
$
5,078

 
$
4,963
Unrecognized Share-Based Compensation Expense
The following table presents unrecognized stock-based compensation expense as of December 31, 2018:
($ in thousands)
 
Unrecognized Expense
 
Weighted-Average Remaining Expected Recognition Period
Stock option awards
 
$
148

 
1.4 years
Restricted stock awards and restricted stock units
 
9,037

 
2.2 years
Total
 
$
9,185

 
2.2 years
Schedule of Stock Options
The weighted-average estimated fair value per share options granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions.
 
 
Year Ended December 31,
($ in thousands, except per share data)
 
2018
 
2017
 
2016
Granted date fair value of options granted
 
$
—

 
$
—

 
$
1,630

Fair value of options vested
 
$
160

 
$
611

 
$
497

Total intrinsic value of options exercised
 
$
96

 
$
3,747

 
$
722

Cash received from options exercised
 
$
—

 
$
2,043

 
$
—

Weighted-average estimated fair value per share of options granted
 
$
—

 
$
—

 
$
5.09
Weighted Average Fair Value Assumptions
The following table presents a summary of weighted-average assumptions used for calculating fair value options for the periods indicated:
 
 
Year Ended December 31,
 
 
2018
 
2017
 
2016
Dividend yield
 
—
%
 
—
%
 
3.57
%
Expected volatility
 
—
%
 
—
%
 
43.30
%
Expected term
 
0.0 years

 
0.0 years

 
6.5 years

Risk-free interest rate
 
—
%
 
—
%
 
1.61
%
Option Activity
The following table represents stock option activity and weighted-average exercise price per share for the periods indicated:
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
Number of Shares
 
Weighted-Average Exercise Price per Share
 
Number of Shares
 
Weighted-Average Exercise Price per Share
 
Number of Shares
 
Weighted-Average Exercise Price per Share
Outstanding at beginning of year
210,973

 
$
13.99

 
968,591

 
$
13.95

 
960,879

 
$
12.86

Granted
—

 
$
—

 
—

 
$
—

 
320,000

 
$
16.78

Cash settled
—

 
$
—

 
—

 
$
—

 
55,826

 
$
14.33

Exercised
(24,000
)
 
$
17.50

 
(488,281
)
 
$
12.53

 
(51,666
)
 
$
11.48

Forfeited
—

 
$
—

 
(269,337
)
 
$
16.49

 
(202,743
)
 
$
13.84

Expired
—

 
$
—

 
—

 
$
—

 
(2,053
)
 
$
13.88

Outstanding at end of year
186,973

 
$
13.54

 
210,973

 
$
13.99

 
968,591

 
$
13.95

Exercisable at end of year
123,125

 
$
13.67

 
105,541

 
$
14.68

 
449,655

 
$
12.68
Nonvested Share
The following table represents changes in unvested stock options and related information as of and for the periods indicated:
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
Number of Shares
 
Weighted-Average Exercise Price per Share
 
Number of Shares
 
Weighted-Average Exercise Price per Share
 
Number of Shares
 
Weighted-Average Exercise Price per Share
Outstanding at beginning of year
105,432

 
$
13.31

 
518,936

 
$
15.04

 
566,266

 
$
12.99

Granted
—

 
$
—

 
—

 
$
—

 
320,000

 
$
16.77

Vested
(41,584
)
 
$
13.32

 
(174,833
)
 
$
14.10

 
(170,837
)
 
$
12.81

Forfeited
—

 
$
—

 
(238,671
)
 
$
16.50

 
(196,493
)
 
$
13.86

Outstanding at end of year
63,848

 
$
13.30

 
105,432

 
$
13.31

 
518,936

 
$
15.04
Summary of Stock Options Outstanding
The following table presents a summary of stock options outstanding as of December 31, 2018:
 
Options Outstanding
 
Options Exercisable
 
Number of Shares
 
Intrinsic Value
 
Weighted-Average Exercise Price per Share
 
Weighted-Average Remaining Contractual Life
 
Number of Shares
 
Intrinsic Value
 
Weighted-Average Exercise Price per Share
 
Weighted-Average Remaining Contractual Life
$10.90 to $11.88
7,344

 
$
17,699

 
$
10.90

 
5.5 years
 
6,240

 
$
15,038

 
$
10.90

 
5.5 years
$11.88 to $12.86
—

 
—

 
$
—

 
0.0 years
 
—

 
—

 
$
—

 
0.0 years
$12.86 to $13.84
163,464

 
2,320

 
$
13.44

 
6.1 years
 
100,720

 
1,200

 
$
13.50

 
6.0 years
$13.84 to $14.82
—

 
—

 
$
—

 
0.0 years
 
—

 
—

 
$
—

 
0.0 years
$14.82 to $15.82
16,165

 
—

 
$
15.81

 
2.5 years
 
16,165

 
—

 
$
15.81

 
2.5 years
Total
186,973

 
$
20,019

 
$
13.54

 
5.8 years
 
123,125

 
$
16,238

 
$
13.67

 
5.5 years
Restricted Stock and Restricted Stock Units Activity
The following table presents unvested restricted stock awards and restricted stock units activity as of and for the periods indicated:
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
Number of Shares
 
Weighted-Average Price per Share
 
Number of Shares
 
Weighted-Average Price per Share
 
Number of Shares
 
Weighted-Average Price per Share
Outstanding at beginning of year
911,633

 
$
18.73

 
1,417,144

 
$
16.16

 
1,516,361

 
$
12.40

Granted (1)
650,676

 
$
18.89

 
859,722

 
$
20.81

 
1,711,968

 
$
17.99

Vested (2)
(415,994
)
 
$
18.65

 
(854,031
)
 
$
15.95

 
(758,999
)
 
$
13.12

Forfeited (3)
(312,714
)
 
$
18.54

 
(511,202
)
 
$
17.80

 
(1,052,186
)
 
$
13.92

Outstanding at end of year
833,601

 
$
18.96

 
911,633

 
$
18.73

 
1,417,144

 
$
16.16


(1)
The number of granted shares includes aggregate performance-based shares/units of 306,801, 152,709 and 602,671, respectively, for the years ended December 31, 2018, 2017 and 2016.
(2)
The number of vested shares includes aggregate performance-based shares/units of 44,817, 10,000 and 0, respectively, for the years ended December 31, 2018, 2017 and 2016
(3)
The number of forfeited shares includes aggregate performance-based shares/units of 86,936, 107,545 and 615,223, respectively, for the years ended December 31, 2018, 2017 and 2016.
Summary of all Outstanding SARs
The following table represents SARs activity and the weighted-average exercise price per share for the periods indicated:
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
Number of Shares
 
Weighted-Average Exercise Price per Share
 
Number of Shares
 
Weighted-Average Exercise Price per Share
 
Number of Shares
 
Weighted-Average Exercise Price per Share
Outstanding at beginning of year
1,559,012

 
$
11.60

 
1,559,047

 
$
11.60

 
1,561,681

 
$
11.60

Granted
—

 
$
—

 
—

 
$
—

 
—

 
$
—

Exercised
—

 
$
—

 
—

 
$
—

 
—

 
$
—

Forfeited
—

 
$
—

 
(35
)
 
$
10.09

 
(2,634
)
 
$
10.09

Outstanding at end of year
1,559,012

 
$
11.60

 
1,559,012

 
$
11.60

 
1,559,047

 
$
11.60

Exercisable at end of year
1,559,012

 
$
11.60

 
1,559,012

 
$
11.60

 
1,550,978

 
$
11.61

The following table represents changes in unvested SARs and related information as of and for the periods indicated:
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
Number of Shares
 
Weighted-Average Exercise Price per Share
 
Number of Shares
 
Weighted-Average Exercise Price per Share
 
Number of Shares
 
Weighted-Average Exercise Price per Share
Outstanding at beginning of year
—

 
$
—

 
8,069

 
$
10.09

 
25,963

 
$
10.09

Granted
—

 
$
—

 
—

 
$
—

 
—

 
$
—

Vested
—

 
$
—

 
(8,034
)
 
$
10.09

 
(15,260
)
 
$
10.09

Forfeited
—

 
$
—

 
(35
)
 
$
10.09

 
(2,634
)
 
$
10.09

Outstanding at end of year
—

 
$
—

 
—

 
$
—

 
8,069

 
$
10.09