XML 72 R45.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Stock-Based Compensation [Abstract] |
Stock Option Valuation Assumptions | The fair value of stock option awards was estimated using the Black-Scholes option-pricing model with the following assumptions and weighted-average fair values as follows:
| December 31,
Stock Options: | 2014 |  | 2015 |  | 2016
Weighted average grant date fair value of grants | $ 23.01 |  | $ 16.26 |  | $ 12.59
Risk-free interest rate(1) | 1.7% |  | 1.7% |  | 1.4%
Dividend yield(2) | 1.9% |  | 2.1% |  | 2.3%
Expected volatility(3) | 45.4% |  | 46.8% |  | 47.9%
Expected life in months(4) | 62 months |  | 65 months |  | 68 months
| (1) | The risk-free interest rate is based upon the rate on a zero coupon U.S. Treasury bill, for periods within the contractual life of the option, in effect at the time of the grant.
| (2) | The dividend yield is based on the average of historical stock prices and actual dividends paid.
| (3) | Expected volatility is based on the historical volatility of the Company's stock price, over a period similar to the expected life of the option.
| (4) | The expected term of the option is based on the historical employee exercise behavior, the vesting terms of the respective option, and a contractual life of either seven or ten years.
Stock Options | Options under the plans as of December 31, 2016 and changes during the year ended December 31, 2016 were as follows:
|  | Shares (in thousands) |  |  | Weighted-average Exercise Price |  |  | Weighted- average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Options activity – service based |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2015 |  |  | 1,469.7 |  |  | $ | 32.85 |  |  |  |  |  |  |
Granted |  |  | 1,465.9 |  |  |  | 34.59 |  |  |  |  |  |  |
Exercised |  |  | (660.2 | ) |  |  | 11.56 |  |  |  |  |  |  |
Forfeited/cancelled/expired |  |  | (68.4 | ) |  |  | 47.27 |  |  |  |  |  |  |
Outstanding at December 31, 2016 |  |  | 2,207.0 |  |  |  | 39.93 |  |  |  | 5.07 |  |  |  | 27,021 |
Exercisable at December 31, 2016 |  |  | 650.1 |  |  |  | 48.95 |  |  |  | 2.46 |  |  |  | 6,381 |
Options activity – performance based |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2015 |  |  | 3,598.7 |  |  | $ | 61.10 |  |  |  |  |  |  |  |  |
Granted |  |  | 739.1 |  |  |  | 34.24 |  |  |  |  |  |  |  |  |
Exercised |  |  | (385.7 | ) |  |  | 30.47 |  |  |  |  |  |  |  |  |
Forfeited/cancelled/expired |  |  | (226.2 | ) |  |  | 72.74 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2016 |  |  | 3,725.9 |  |  |  | 58.23 |  |  |  | 3.45 |  |  |  | 24,970 |
Exercisable at December 31, 2016 |  |  | 900.5 |  |  |  | 31.67 |  |  |  | 0.96 |  |  |  | 14,760 |
Options activity – all options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2015 |  |  | 5,068.4 |  |  | $ | 52.91 |  |  |  |  |  |  |  |  |
Granted |  |  | 2,205.0 |  |  |  | 34.48 |  |  |  |  |  |  |  |  |
Exercised |  |  | (1,045.9 | ) |  |  | 18.54 |  |  |  |  |  |  |  |  |
Forfeited/cancelled/expired |  |  | (294.6 | ) |  |  | 66.82 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2016 |  |  | 5,932.9 |  |  |  | 51.42 |  |  |  | 4.05 |  |  |  | 51,991 |
Exercisable at December 31, 2016 |  |  | 1,550.6 |  |  |  | 38.91 |  |  |  | 1.59 |  |  |  | 21,141 |
Stock Options Exercised | Cash proceeds, tax benefits and intrinsic value related to total stock options exercised during 2014, 2015 and 2016, were as follows (U.S. dollars in thousands):
|  | December 31, |
|  | 2014 |  |  | 2015 |  |  | 2016 |
Cash proceeds from stock options exercised |  | $ | 11,042 |  |  | $ | 13,041 |  |  | $ | 15,707 |
Tax benefit realized for stock options exercised |  |  | 11,947 |  |  |  | 4,451 |  |  |  | 3,840 |
Intrinsic value of stock options exercised |  |  | 17,159 |  |  |  | 12,085 |  |  |  | 30,587 |
Nonvested Restricted Stock Awards | Nonvested restricted stock awards as of December 31, 2016 and changes during the year ended December 31, 2016 were as follows:
|  | Number of Shares (in thousands) |  |  | Weighted-average Grant Date Fair Value |
Nonvested at December 31, 2015 |  |  | 662.2 |  |  | $ | 60.87 |
Granted |  |  | 220.9 |  |  |  | 39.62 |
Vested |  |  | (210.3 | ) |  |  | 58.20 |
Forfeited |  |  | (76.4 | ) |  |  | 63.34 |
Nonvested at December 31, 2016 |  |  | 596.4 |  |  |  | 53.62 |

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 the amount of cash proceeds received from the exercise of stock options and similar instruments granted under share-based payment arrangements and the tax benefit realized from stock options exercised during the period. Disclosure may also include the intrinsic value of stock options exercised during the period. + 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 (j) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + 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)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
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