XML 63 R48.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
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: |  | 2015 |  |  | 2016 |  |  | 2017 |
Weighted-average grant date fair value of grants |  | $ | 16.26 |  |  | $ | 12.59 |  |  | $ | 18.84 |
Risk-free interest rate(1) |  |  | 1.7% |  |  |  | 1.4% |  |  |  | 2.1% |
Dividend yield(2) |  |  | 2.1% |  |  |  | 2.3% |  |  |  | 2.5% |
Expected volatility(3) |  |  | 46.8% |  |  |  | 47.9% |  |  |  | 48.2% |
Expected life in months(4) |  | 65 months |  |  | 68 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, 2017 and changes during the year ended December 31, 2017 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, 2016 |  |  | 2,207.0 |  |  | $ | 39.93 |  |  |  |  |  |  |
Granted |  | ─ |  |  | ─ |  |  |  |  |  |  |
Exercised |  |  | (324.4 | ) |  |  | 34.71 |  |  |  |  |  |  |
Forfeited/cancelled/expired |  |  | (489.7 | ) |  |  | 43.85 |  |  |  |  |  |  |
Outstanding at December 31, 2017 |  |  | 1,392.9 |  |  |  | 39.76 |  |  |  | 4.36 |  |  | $ | 41,756 |
Exercisable at December 31, 2017 |  |  | 725.5 |  |  |  | 43.14 |  |  |  | 3.55 |  |  |  | 20,237 |
Options activity – performance based |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2016 |  |  | 3,725.9 |  |  | $ | 58.23 |  |  |  |  |  |  |  |  |
Granted |  |  | 298.0 |  |  |  | 50.93 |  |  |  |  |  |  |  |  |
Exercised |  |  | (853.0 | ) |  |  | 30.86 |  |  |  |  |  |  |  |  |
Forfeited/cancelled/expired |  |  | (869.4 | ) |  |  | 70.17 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2017 |  |  | 2,301.5 |  |  |  | 62.89 |  |  |  | 3.61 |  |  | $ | 26,206 |
Exercisable at December 31, 2017 |  |  | 294.1 |  |  |  | 35.58 |  |  |  | 4.17 |  |  |  | 9,601 |
Options activity – all options |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2016 |  |  | 5,932.9 |  |  | $ | 51.42 |  |  |  |  |  |  |  |  |
Granted |  |  | 298.0 |  |  |  | 50.93 |  |  |  |  |  |  |  |  |
Exercised |  |  | (1,177.4 | ) |  |  | 31.92 |  |  |  |  |  |  |  |  |
Forfeited/cancelled/expired |  |  | (1,359.1 | ) |  |  | 60.69 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2017 |  |  | 3,694.4 |  |  |  | 54.17 |  |  |  | 3.90 |  |  | $ | 67,962 |
Exercisable at December 31, 2017 |  |  | 1,019.6 |  |  |  | 40.96 |  |  |  | 3.73 |  |  |  | 29,838 |
Stock Options Exercised | Cash proceeds, tax benefits and intrinsic value related to total stock options exercised during 2015, 2016 and 2017, were as follows (U.S. dollars in thousands):
|  | December 31, |
|  | 2015 |  |  | 2016 |  |  | 2017 |
Cash proceeds from stock options exercised |  | $ | 13,041 |  |  | $ | 15,707 |  |  | $ | 26,980 |
Tax benefit realized for stock options exercised |  |  | 4,451 |  |  |  | 3,840 |  |  |  | 6,457 |
Intrinsic value of stock options exercised |  |  | 12,085 |  |  |  | 30,587 |  |  |  | 42,749 |
Nonvested Restricted Stock Awards | Nonvested restricted stock awards as of December 31, 2017 and changes during the year ended December 31, 2017 were as follows:
|  | Number of Shares (in thousands) |  |  | Weighted-average Grant Date Fair Value |
Nonvested at December 31, 2016 |  |  | 596.4 |  |  | $ | 53.62 |
Granted |  |  | 261.6 |  |  |  | 50.95 |
Vested |  |  | (203.2 | ) |  |  | 53.94 |
Forfeited |  |  | (91.9 | ) |  |  | 60.30 |
Nonvested at December 31, 2017 |  |  | 562.9 |  |  |  | 51.17 |

X
- Definition Tabular disclosure of cash received from exercise of stock options and similar instruments granted under share-based payment arrangements and tax benefit from exercise of stock options. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=96867065&loc=SL79508275-113901 + Details
Name: | us-gaap_CashProceedsReceivedAndTaxBenefitFromShareBasedPaymentAwardsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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 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=96867065&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 for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 (d) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 3: 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=96867065&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=96867065&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration