XML 42 R31.htm IDEA: XBRL DOCUMENT v3.19.1
Stock Compensation (Tables)
3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Restricted Stock Unit Activity
A summary of restricted stock unit activity for the three months ended March 31, 2019 follows (shares in thousands):
 
 
Restricted
Stock
Units
 
Weighted-
Average
Grant-Date
Fair Value
Outstanding at December 31, 2018
 
2,151

 
$
12.90

Granted
 
1,296

 
15.04

Vested
 
(1,074
)
 
13.23

Forfeited and expired
 
(30
)
 
13.47

Outstanding at March 31, 2019
 
2,343

 
14.11

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,
 
2019
 
2018
Weighted-average fair value of grant
$
16.58

 
$
15.20

Risk-free interest rate(i)
2.49
%
 
2.26
%
Expected volatility(ii)
47.91
%
 
52.97
%
Expected life of restricted stock units in years(iii)
2.87

 
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