XML 39 R27.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock Compensation (Tables)
3 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity
A summary of stock option activity for the three months ended March 31, 2018 follows (shares in thousands):
 
 
Stock Options
 
Weighted-
Average
Exercise
Price
 
Weighted-
Average
Remaining
Contractual
Term 
(years)
 
Aggregate
Intrinsic
Value
Outstanding at December 31, 2017
 
1,758

 
$
26.35

 
 
 
 
Granted
 

 

 
 
 
 
Exercised
 

 

 
 
 
 
Forfeited and expired
 
(533
)
 
23.93

 
 
 
 
Outstanding at March 31, 2018
 
1,225

 
27.41

 
1.94
 
$

Expected to vest at March 31, 2018
 
20

 
16.83

 
4.38
 

Exercisable at March 31, 2018
 
1,204

 
27.59

 
1.89
 

Summary of Restricted Stock Unit Activity
A summary of restricted stock unit activity for the three months ended March 31, 2018 follows (shares in thousands):
 
 
Restricted
Stock
Units
 
Weighted-
Average
Grant-Date
Fair Value
Outstanding at December 31, 2017
 
1,688

 
$
13.39

Granted
 
1,373

 
12.77

Vested
 
(696
)
 
13.09

Forfeited and expired
 
(28
)
 
12.80

Outstanding at March 31, 2018
 
2,337

 
13.15

Schedule of Assumptions Used
The fair value of awards with market conditions was estimated using a Monte Carlo simulation with the following weighted-average assumptions:
 
 
Three Months Ended
March 31, 2018
Weighted-average fair value of grant
 
$
15.84

Risk-free interest rate(i)
 
2.26
%
Expected volatility(ii)
 
52.97
%
Expected life of restricted stock units in years(iii)
 
2.88

Expected dividend yield
 
%
(i) 
Represents the continuously compounded semi-annual zero-coupon U.S. treasury rate commensurate with the remaining performance period
(ii) 
Based on historical volatility for the company that is commensurate with the length of the performance period
(iii) 
Represents the remaining life of the longest performance period