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Equity-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Option Activity

Stock option activity during 2017, 2018 and 2019 was as follows (aggregate intrinsic value in thousands):

 

 

 

Number of

Options

 

 

Weighted

Average

Exercise Price

 

 

Weighted

Average

Remaining

Contractual

Term (in years)

 

 

Aggregate

Intrinsic

Value

 

Options outstanding at January 1, 2017

 

 

1,000,946

 

 

$

48.42

 

 

 

7.46

 

 

$

8,166

 

Options granted

 

 

259,300

 

 

 

42.25

 

 

 

9.30

 

 

 

205

 

Options exercised

 

 

(87,367

)

 

 

25.92

 

 

N/A

 

 

 

1,636

 

Options cancelled

 

 

(198,313

)

 

 

54.71

 

 

N/A

 

 

N/A

 

Options outstanding at December 31, 2017

 

 

974,566

 

 

 

47.89

 

 

 

7.46

 

 

 

3,802

 

Options granted

 

 

374,700

 

 

 

37.54

 

 

 

9.21

 

 

 

246

 

Options exercised

 

 

(20,989

)

 

 

17.83

 

 

N/A

 

 

 

383

 

Options cancelled

 

 

(128,737

)

 

 

50.83

 

 

N/A

 

 

N/A

 

Options outstanding at December 31, 2018

 

 

1,199,540

 

 

 

44.64

 

 

 

7.26

 

 

 

2,717

 

Options granted

 

 

605,200

 

 

 

28.50

 

 

 

9.21

 

 

 

1,343

 

Options exercised

 

 

(55,671

)

 

 

19.05

 

 

N/A

 

 

 

658

 

Options cancelled

 

 

(389,001

)

 

 

40.84

 

 

N/A

 

 

N/A

 

Options outstanding at December 31, 2019

 

 

1,360,068

 

 

$

39.40

 

 

 

7.57

 

 

$

1,650

 

Options exercisable at December 31, 2018

 

 

534,164

 

 

$

44.98

 

 

 

5.73

 

 

$

2,386

 

Options exercisable at December 31, 2019

 

 

513,290

 

 

$

48.08

 

 

 

5.88

 

 

$

512

 

 

Schedule of Stock Options Valuation Assumptions The following table summarizes the grant-date fair value of options and the assumptions used to develop the fair value estimates for options granted during the years ended December 31, 2019, 2018 and 2017:

 

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Weighted average grant-date fair value of options

 

$

17.59

 

 

$

13.67

 

 

$

14.39

 

Risk-free interest rate

 

 

2.4

%

 

 

2.2

%

 

 

2.0

%

Expected volatility

 

 

38

%

 

 

37

%

 

 

33

%

Expected life (in years)

 

 

5.0

 

 

 

5.1

 

 

 

5.5

 

 

Restricted Stock Activity

Restricted stock activity during 2017, 2018 and 2019 was as follows:

 

 

 

Number of

Shares

 

 

Weighted

Average

Grant-Date

Fair Value

 

Unvested at January 1, 2017

 

 

844,419

 

 

$

55.76

 

Granted

 

 

404,224

 

 

 

42.38

 

Cancelled

 

 

(145,981

)

 

 

55.03

 

Vested

 

 

(292,794

)

 

 

53.07

 

Unvested at December 31, 2017

 

 

809,868

 

 

$

50.19

 

Granted

 

 

480,137

 

 

 

36.84

 

Cancelled

 

 

(88,989

)

 

 

47.57

 

Vested

 

 

(395,959

)

 

 

50.41

 

Unvested at December 31, 2018

 

 

805,057

 

 

$

42.40

 

Granted

 

 

700,937

 

 

 

28.77

 

Cancelled

 

 

(389,684

)

 

 

33.50

 

Vested

 

 

(311,174

)

 

 

44.23

 

Unvested at December 31, 2019

 

 

805,136

 

 

$

34.14

 

 

Restricted Stock Unit Activity

Restricted stock unit activity during 2017, 2018 and 2019 was as follows:

 

 

 

Number of

Units

 

 

Weighted

Average

Grant-Date

Fair Value

 

Unvested at January 1, 2017

 

 

273,599

 

 

$

59.68

 

Granted

 

 

219,840

 

 

 

43.23

 

Cancelled

 

 

 

 

 

 

Vested

 

 

(132,530

)

 

 

58.67

 

Unvested at December 31, 2017

 

 

360,909

 

 

$

50.04

 

Granted

 

 

285,358

 

 

 

42.26

 

Cancelled

 

 

(89,173

)

 

 

55.44

 

Vested

 

 

(72,983

)

 

 

49.64

 

Unvested at December 31, 2018

 

 

484,111

 

 

$

44.52

 

Granted

 

 

234,408

 

 

 

34.54

 

Cancelled

 

 

(271,162

)

 

 

45.17

 

Vested

 

 

 

 

 

 

Unvested at December 31, 2019

 

 

447,357

 

 

$

38.89