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Stock-Based Compensation Plans | 12 Months Ended
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Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock-Based Compensation Plans | NOTE 13. Stock-Based Compensation Plans The 2017 Long-Term Incentive Plan (the “2017 Incentive Plan”) was approved by the Board of Directors and subsequently approved by the Company’s stockholders at the 2017 annual meeting. The 2017 Incentive Plan authorizes a broad range of awards including stock options, stock appreciation rights, restricted stock and restricted stock units, performance shares or units, other stock-based awards, and cash incentive awards to all employees (including the Company’s executive officers), directors, consultants, independent contractors or agents of us or a related company. The 2017 Incentive Plan is effective as of March 15, 2017. The 2017 Incentive Plan replaced the Company’s 2002 Long-Term Incentive Plan, as amended (the “2002 Incentive Plan”). Under the 2002 Incentive Plan, stock options, stock appreciation rights, restricted stock, restricted stock units and performance units could be granted for the purpose of attracting and motivating our key employees and non-employee directors. As of the effective date of the 2017 Incentive Plan, there were a total of 707,273 shares of our Class A common stock (“Common Stock”) under the 2002 Incentive Plan available to be issued upon exercise or settlement of outstanding awards. As of December 31, 2018, 1,499,137 shares were available for future grant under the 2017 Incentive Plan. We have awarded time-based restricted stock to our employees and the Company’s non-employee Directors. This restricted stock vests over a three to five -year period for all recipients other than the Company’s non-employee Directors. The non-employee Directors restricted stock vests over a one to three-year period. In 2018, in addition to the time-based restricted stock we granted performance-based restricted stock to our Executive Officers. The performance-based restricted stock cliff vests after the third anniversary year if certain EBITDA targets are achieved. We have not granted any stock options since 2003 and have no stock options outstanding. Share-based compensation expense for 2018, 2017 and 2016 was $13.5 million, $8.6 million and $7.3 million or $10.1 million, $5.8 million and $4.4 million, net of taxes, respectively. Included in the 2018 share-based compensation expense is $1.8 million of performance-based share expenses or $1.3 million, net of taxes. The following table summarizes the non-vested restricted stock activity for the year ended December 31, 2018:
|  |  |  |  | Time-Based |  |  |  |  |  |  | Performance-Based |
|  |  |  |  | Restricted Stock |  |  |  |  |  |  | Restricted Stock |
|  |  |  |  | Weighted |  |  |  |  |  |  | Weighted |
| Time-Based |  |  | Average |  |  | Performance-Based |  |  | Average |
| Restricted Stock |  |  | Grant Date |  |  | Restricted Stock |  |  | Grant Date |
| Shares |  |  | Fair Value |  |  | Shares |  |  | Fair Value |
Non-vested January 1, 2018 |  | 875,326 |  |  | $ | 38.88 |  |  |  | - |  |  | $ | - |
Granted |  | 500,943 |  |  | $ | 47.34 |  |  |  | 89,143 |  |  | $ | 49.20 |
Vested |  | (272,877) |  |  | $ | 38.42 |  |  |  | - |  |  | $ | - |
Forfeited |  | (139,923) |  |  | $ | 41.91 |  |  |  | (16,143) |  |  | $ | 49.20 |
Non-vested at December 31, 2018 |  | 963,469 |  |  | $ | 42.98 |  |  |  | 73,000 |  |  | $ | 49.20 |
The following table summarizes the restricted stock granted during the respective years:
Time-based restricted stock grants | 2018 |  |  | 2017 |  |  | 2016 |
Employees |  | 463,818 |  |  |  | 396,708 |  |  |  | 394,243 |
Outside directors |  | 37,125 |  |  |  | 31,625 |  |  |  | 26,125 |
Total |  | 500,943 |  |  |  | 428,333 |  |  |  | 420,368 |
Weighted average grant date fair value | $ | 47.34 |  |  | $ | 43.31 |  |  | $ | 33.46 |
Vesting period | 1-5 years |  |  | 1-5 years |  |  | 3-5 years |
In addition to the time-based restricted stock, we granted 89,143 shares of performance-based restricted stock to employees in 2018. The weighted average grant date fair value of these shares was $49.20 with a cliff vest after three years. The fair value of non-vested restricted stock is equal to the market price of our stock at the date of grant. The total fair value of restricted shares vested during the years ended December 31, 2018, 2017 and 2016 was $13.3 million, $10.4 million and $7.5 million, respectively. As of December 31, 2018, there was $31.5 million of unrecognized compensation cost related to non-vested share-based compensation that is expected to be recognized over a weighted average period of 2.81 years. Additionally, as of December 31, 2018, there was $2.4 million of unrecognized compensation cost related to the non-vested performance-based restricted stock compensation that is expected to be recognized over a weighted average period of 2.00 years. During January 2019, we granted 388,843 shares of restricted stock, which includes 76,500 performance-based shares and 312,343 time-based shares, to certain employees and 32,262 shares of restricted stock to outside directors with a weighted average grant date fair value of $37.20. The stock vests over a three to five year period for employees and one year for outside directors, except for the performance-based shares that cliff vest after three years.

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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 + Details
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