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Stock-based Compensation and Outstanding Awards (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Significant Assumptions Used to Calculate the Grant Date Fair Market Values of Options Granted

For the stock options granted in 2018, 2017 and 2016, the fair value of each option award was estimated on the date of grant using the Black-Scholes framework that uses the assumptions noted in the table below.

		December 31,
		2018				2017				2016
Valuation Assumptions:
Expected volatility			44.2	%			37.9	%			44.0	%
Risk-free interest rate			2.7	%			1.9	%			1.3	%
Expected dividends (per share)		$	—			$	—			$	—
Expected term (in years)			4.5				4.5				4.5

Summary of Stock Option Activity

The following table summarizes award activity for stock options:

Stock Options		Shares (in thousands)				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2017			5,630			$	25.97
Granted			1,807				9.90
Forfeited and expired			(1,915	)			29.79
Exercised			(39	)			13.27
Outstanding as of December 31, 2018			5,483			$	19.43				4.7			$	3
Exercisable at December 31, 2018			2,917			$	25.37				3.8			$	—

Summary of Status of Nonvested Shares of RSAs and RSUs

The following table summarizes award activity for restricted stock awards and restricted stock units:

RSAs / RSUs		Shares (in thousands)				Weighted- Average Grant-Date Fair Value
Nonvested as of December 31, 2017			1,678			$	25.99
Granted			357				10.82
Vested (1)			(441	)			29.02
Forfeited			(79	)			21.18
Nonvested as of December 31, 2018			1,515			$	21.78

⁽¹⁾ 113 thousand shares were withheld and retired from the vesting of shares to employees to satisfy minimum tax withholding.

The following table summarizes award activity for performance stock awards:

PSAs		Shares (in thousands)				Weighted- Average Grant-Date Fair Value
Nonvested as of December 31, 2017			317			$	19.86
Granted			202				11.81
Vested (1)			(44	)			22.44
Forfeited			(62	)			23.25
Nonvested as of December 31, 2018			413			$	15.13

⁽¹⁾ 14 thousand shares were withheld and retired from the vesting of shares to employees to satisfy minimum tax withholding.

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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
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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.

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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
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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.

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