XML 55 R13.htm IDEA: XBRL DOCUMENT
v2.4.1.9

STOCK-BASED COMPENSATION | 3 Months Ended
--- | ---
Mar. 31, 2015
STOCK-BASED COMPENSATION |
STOCK-BASED COMPENSATION |
6. | STOCK-BASED COMPENSATION
In April 2014, the Company reserved 8,000,000 shares of common stock under the 2014 Stock Incentive Plan with a term of 10 years expiring in April 2024. This plan provides for the issuance of various forms of stock incentives, including, among others, incentive and non-qualified stock options and restricted shares. As of March 31, 2015, there were 7,106,275 shares available for grant. Stock-based employee compensation expense was as follows for the periods indicated:
|  | Three months ended |
|  | March 31 |
(in thousands) |  | 2015 |  |  | 2014 |
Pre-tax expense |  | $ | 2,523 |  |  | $ | 2,320 |
After tax expense |  | $ | 1,602 |  |  | $ | 1,473 |
Restricted Stock The following is a summary of the changes in non-vested restricted shares for the three months ended March 31, 2015:
|  | Shares |  |  | Weighted Average Grant-Date Fair Value |
Non-vested shares at December 31, 2014 |  |  | 3,575,150 |  |  | $ | 12.04 |
Granted |  |  | 895,725 |  |  |  | 12.30 |
Vested |  |  | (1,054,625 | ) |  |  | 8.66 |
Forfeited |  |  | (26,950 | ) |  |  | 13.84 |
Non-vested shares at March 31, 2015 |  |  | 3,389,300 |  |  | $ | 13.15 |
The total fair value of shares vested during the three months ended March 31, 2015 was $12,727,000 and during the three months ended March 31, 2014 was $20,634,000. Tax benefits for compensation tax deductions in excess of compensation expense for restricted shares totaled $1,460,000 for the three months ended March 31, 2015 and $4,455,000 for the three months ended March 31, 2014. These tax benefits were credited to capital in excess of par value and classified as financing cash flows. As of March 31, 2015, total unrecognized compensation cost related to non-vested restricted shares was $46,419,000 which is expected to be recognized over a weighted-average period of 3.9 years.

X
- Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration