XML 56 R38.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Share-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Certain Information Related to Stock Options, Restricted Stock and PSUs | The following table provides certain information related to Stock Options, Restricted Stock, and PSUs during the year ended December 31, 2016 (in thousands, except per share data):
|  | For the Year Ended December 31, 2016 |
|  | Stock Options |  |  | Restricted Stock |  |  | Performance Share Units |
|  |  |  |  |  | Weighted |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Weighted |  |  |  |  |  |  | Weighted |
|  |  |  |  |  | Average |  |  |  |  |  |  | Weighted |  |  |  |  |  |  | Average |  |  |  |  |  |  | Average |
|  |  |  |  |  | Exercise |  |  | Aggregate |  |  | Average |  |  |  |  |  |  | Grant Date |  |  | Number |  |  | Grant Date |
|  | Number of |  |  | Price per |  |  | Intrinsic |  |  | Remaining |  |  | Number |  |  | Fair Value |  |  | of Share |  |  | Fair Value |
|  | Options |  |  | Share (1) |  |  | Value |  |  | Term |  |  | of Shares (2) |  |  | per Share (1) |  |  | Units (2) |  |  | per Share (1) |
Outstanding as of December 31, 2015 |  |  | 2,269 |  |  | $ | 13.22 |  |  |  |  |  |  |  |  |  |  |  | 615 |  |  | $ | 26.04 |  |  |  | — |  |  | $ | — |
Granted |  |  | 1,114 |  |  |  | 19.56 |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | — |  |  |  | 173 |  |  |  | 23.18 |
Forfeited |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |  |  | n/a |  |  | n/a |  |  | n/a |  |  | n/a |
Exercised |  |  | (124 | ) |  |  | 7.29 |  |  |  |  |  |  |  |  |  |  | n/a |  |  | n/a |  |  | n/a |  |  | n/a |
Vested |  | n/a |  |  | n/a |  |  |  |  |  |  |  |  |  |  |  | (615 | ) |  |  | 26.04 |  |  |  | — |  |  |  | — |
Expired |  |  | (45 | ) |  |  | 4.70 |  |  |  |  |  |  |  |  |  |  | n/a |  |  | n/a |  |  | n/a |  |  | n/a |
Outstanding as of December 31, 2016 |  |  | 3,214 |  |  | $ | 15.77 |  |  | $ | 40,589 |  |  |  | 5.05 |  |  |  | — |  |  | $ | — |  |  |  | 173 |  |  | $ | 23.18 |
Exercisable as of December 31, 2016 |  |  | 1,249 |  |  | $ | 11.23 |  |  | $ | 21,438 |  |  |  | 2.49 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) | Unless otherwise specified, such as in the case of the exercise of Stock Options, the per share prices were determined using the closing price of the Company’s Common Stock as quoted on the exchanges on which the Company was listed. Shares issued upon exercise of options represent original issuances in private transactions pursuant to Section 4(2) of the Securities Act of 1933, as amended or issuances under the Company's Incentive Plan.
(2) | All shares outstanding as of December 31, 2016 are expected to vest.
n/a | Not applicable
Certain Information Regarding Company's Share-Based Compensation | The following table provides certain information in connection with the Company’s share-based compensation arrangements for the periods presented (in thousands):
|  | Years Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Compensation expense: |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  | $ | 3,641 |  |  | $ | 1,389 |  |  | $ | 675 |
Restricted stock |  |  | 3,433 |  |  |  | 15,997 |  |  |  | 11,667 |
Performance share units |  |  | 3,214 |  |  |  | — |  |  |  | — |
Total |  | $ | 10,288 |  |  | $ | 17,386 |  |  | $ | 12,342 |
Deferred tax benefits: |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  | $ | 1,392 |  |  | $ | 532 |  |  | $ | 260 |
Restricted stock |  |  | 1,312 |  |  |  | 4,816 |  |  |  | 83 |
Performance share units |  |  | 1,229 |  |  |  | — |  |  |  | — |
Total |  | $ | 3,933 |  |  | $ | 5,348 |  |  | $ | 343 |
Realized tax benefits: |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  | $ | 724 |  |  | $ | 5,369 |  |  | $ | 7,321 |
Restricted stock |  |  | 4,326 |  |  |  | — |  |  |  | 967 |
Performance share units |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 5,050 |  |  | $ | 5,369 |  |  | $ | 8,288 |
Excess tax benefits (shortfall): |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  | $ | 642 |  |  | $ | 5,310 |  |  | $ | 6,472 |
Restricted stock |  |  | (1,796 | ) |  |  | — |  |  |  | 534 |
Performance share units |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | (1,154 | ) |  | $ | 5,310 |  |  | $ | 7,006 |
Weighted average fair value per option or share: |  |  |  |  |  |  |  |  |  |  |  |
Stock option grants |  | $ | 6.01 |  |  | $ | 6.34 |  |  | $ | 3.39 |
Restricted stock grants |  | $ | — |  |  | $ | 26.04 |  |  | $ | 12.88 |
Performance share unit grants |  | $ | 23.18 |  |  | $ | — |  |  | $ | — |
Intrinsic value of options exercised |  | $ | 1,894 |  |  | $ | 14,734 |  |  | $ | 18,979 |
Fair value of restricted stock vested |  | $ | 11,319 |  |  | $ | 17,505 |  |  | $ | 28,350 |
Cash received for strike price and tax withholdings |  | $ | 119 |  |  | $ | 519 |  |  | $ | 73 |
Shares acquired through cashless exercise (1) |  |  | 325 |  |  |  | 611 |  |  |  | 1,787 |
Value of shares acquired through cashless exercise (1) |  | $ | 6,238 |  |  | $ | 15,445 |  |  | $ | 26,947 |
(1) | All shares acquired represent shares tendered to cover the strike price for options and tax withholdings on the intrinsic value of options exercised or Restricted Stock vested. These shares have been cancelled by the Company.
Unrecognized Compensation Expense and Weighted Average Period | The following table provides the amount of unrecognized compensation expense as of the most recent balance sheet date and the weighted average period over which those expenses will be recorded for both Stock Options, Restricted Stock, and PSUs (dollars in thousands):
|  | As of December 31, 2016 |
|  | Stock |  |  | Restricted |  | Performance |
|  | Options |  |  | Stock |  | Share Units |
Unrecognized expense |  | $ | 7,854 |  |  | $ | — |  | $ | 786 |
Weighted average remaining years |  |  | 1.92 |  |  |  | — |  |  | 1.56 |
Summary of Assumptions Utilized in the Black-Scholes Model for Stock Options Granted | The following table provides the assumptions utilized in the Black-Scholes model for Stock Options granted during the periods presented:
|  | Years Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Weighted-average risk-free interest rate |  |  | 1.40 | % |  |  | 0.54 | % |  |  | 0.48 | %
Expected term of option in years |  |  | 5.44 |  |  |  | 3.38 |  |  |  | 2.98 |
Weighted-average volatility |  |  | 45.2 | % |  |  | 44.3 | % |  |  | 40.3 | %
Dividend yield |  |  | 3.4 | % |  |  | 3.4 | % |  |  | 3.9 | %
Weighted average grant date fair value per share |  | $ | 6.01 |  |  | $ | 6.34 |  |  | $ | 3.39 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share-based compensation plans that may be presented in a single table for outstanding, vested and expected to vest, and exercisable awards. The information that may be disclosed in this table may include, but is not limited to, number of shares, weighted average exercise price, weighted average remaining contractual life, and aggregate intrinsic value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the total compensation cost related to nonvested awards not yet recognized and the weighted-average period over which it is expected to be recognized. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration