v3.7.0.1

Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Summary of Terms of Restricted Shares | The following table summarizes the terms of the Restricted Shares:
Vesting Terms |  | Number of Shares |  |  | Grant-date Fair Value |
|  | (In thousands) |  |  |  |  |
1/3rd per year on grant-date anniversary |  |  | 433 |  |  | $ | 15.81 |
1/3rd per year on grant-date anniversary |  |  | 22 |  |  |  | 15.95 |
1/3rd per year on grant-date anniversary |  |  | 445 |  |  |  | 15.08 |
1/3rd per year on grant-date anniversary |  |  | 465 |  |  |  | 20.02 |
1/3rd per year on grant-date anniversary |  |  | 305 |  |  |  | 18.90 |
1/4th on the 1st grant-date anniversary and 3/4th on the 2nd grant-date anniversary |  |  | 567 |  |  |  | 15.00 |
1/3rd per year on grant-date anniversary |  |  | 280 |  |  |  | 15.00 |
|  |  | 2,517 |  |  |  |  |
Summary of Changes in Number of Restricted Shares Outstanding | Changes in the number of Restricted Shares outstanding for the years ended December 31, 2016 and 2015 were as follows:
|  | Number of Shares |  |  | Weighted Average Grant-date Fair Value |  |  | Fair Value of Shares Vested |
|  | (In thousands) |  |  |  |  |  |  | (In millions) |
Balance, December 31, 2014 |  |  | 847 |  |  | $ | 15.00 |  |  |  |  |
Granted |  |  | 770 |  |  |  | 19.58 |  |  |  |  |
Vested |  |  | (424 | ) |  |  | 16.20 |  |  | $ | 7.8 |
Forfeited |  |  | (28 | ) |  |  | 16.30 |  |  |  |  |
Balance, December 31, 2015 |  |  | 1,165 |  |  |  | 17.47 |  |  |  |  |
Granted |  |  | 900 |  |  |  | 15.45 |  |  |  |  |
Vested |  |  | (571 | ) |  |  | 16.65 |  |  | $ | 10.9 |
Forfeited |  |  | (24 | ) |  |  | 16.42 |  |  |  |  |
Balance, December 31, 2016 |  |  | 1,470 |  |  | $ | 16.56 |  |  |  |  |
Summary of Terms of Stock Options | The Company has granted options to certain employees to purchase shares of its common stock with the following terms:
Vesting Terms |  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Contractual Terms |
|  | (In thousands) |  |  |  |  |  |  | (In years) |
1/3rd per year on grant-date anniversary |  |  | 389 |  |  | $ | 15.81 |  |  |  | 10 |
1/3rd per year on grant-date anniversary |  |  | 352 |  |  | $ | 15.08 |  |  |  | 10 |
1/3rd per year on grant-date anniversary |  |  | 438 |  |  | $ | 18.90 |  |  |  | 10 |
100% upon grant |  |  | 635 |  |  |  | 20.00 |  |  |  | 10 |
1/3rd per year on grant-date anniversary |  |  | 560 |  |  |  | 20.00 |  |  |  | 10 |
1/5th upon grant and 1/5th on December 6th of following 4 years |  |  | 357 |  |  |  | 20.00 |  |  |  | 10 |
1/5th per year on the anniversary of the original grant date |  |  | 4,405 |  |  |  | 6.32 |  |  |  | 10 |
100% on the seventh anniversary of the original grant date |  |  | 485 |  |  |  | 18.66 |  |  |  | 10 |
|  |  | 7,621 |  |  |  |  |  |  |  |  |
Summary of Black-Scholes Valuation Assumptions for Stock Options | The grant-date fair values of the options were determined using a Black-Scholes valuation model based on the following weighted average assumptions:
|  | Original Grant Year |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Grant-date fair value (per share) |  | $ | 5.59 |  |  |  | 9.03 |  |  |  | 12.66 |
Exercise price |  | $ | 15.46 |  |  |  | 18.90 |  |  |  | 18.66 |
Expected term |  | 6 years |  |  | 6 years |  |  | 7 years |
Risk-free rate |  |  | 1.4 | % |  |  | 1.8 | % |  |  | 2.0 | %
Expected volatility |  |  | 47.0 | % |  |  | 60.0 | % |  |  | 65.0 | %
Expected dividend yield |  |  | 2.3 | % |  |  | 1.9 | % |  |  | 0.0 | %
Summary of Changes in Stock Options Outstanding | Changes in the number of Options outstanding for the years ended December 31, 2016 and 2015 were as follows:
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value |
|  | (In thousands) |  |  |  |  |  |  | (In years) |  |  | (In millions) |
Balance, December 31, 2014 |  |  | 6,442 |  |  | $ | 10.54 |  |  |  | 8.5 |  |  | $ | 49.2 |
Options exercisable, December 31, 2014 |  |  | 1,938 |  |  | $ | 10.60 |  |  |  | 8.2 |  |  | $ | 15.2 |
Granted |  |  | 438 |  |  |  | 18.90 |  |  |  |  |  |  |  |  |
Exercised |  |  | (566 | ) |  |  | 5.50 |  |  |  |  |  |  |  | 8.6 |
Forfeited |  |  | (45 | ) |  |  | 10.12 |  |  |  |  |  |  |  |  |
Balance, December 31, 2015 |  |  | 6,269 |  |  | $ | 11.58 |  |  |  | 7.6 |  |  | $ | 45.5 |
Options exercisable, December 31, 2015 |  |  | 3,400 |  |  | $ | 10.82 |  |  |  | 7.4 |  |  | $ | 27.6 |
Granted |  |  | 741 |  |  |  | 15.46 |  |  |  |  |  |  |  |  |
Exercised |  |  | (1,333 | ) |  |  | 6.97 |  |  |  |  |  |  |  | 14.3 |
Forfeited |  |  | (87 | ) |  |  | 14.58 |  |  |  |  |  |  |  |  |
Balance, December 31, 2016 |  |  | 5,590 |  |  | $ | 13.15 |  |  |  | 6.9 |  |  | $ | 54.8 |
Options exercisable, December 31, 2016 |  |  | 2,998 |  |  | $ | 12.46 |  |  |  | 6.2 |  |  | $ | 31.5 |
Summary of Proceeds and Tax Benefit Realized from Exercise of Stock Options | Proceeds and tax benefit realized from the exercise of stock options during the years ended December 31, 2016, 2015 and 2014 were as follows:
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (In millions) |
Proceeds from the exercise of stock options - gross |  | $ | 9.3 |  |  |  | 3.0 |  |  |  | — |
Tax benefit |  |  | 4.6 |  |  |  | 2.7 |  |  |  | — |
Summary of Stock-Based Compensation Expense | Stock-based Compensation Expense
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (In millions) |
Restricted shares |  | $ | 10.2 |  |  |  | 11.9 |  |  |  | 0.3 |
Options |  |  | 7.3 |  |  |  | 15.8 |  |  |  | 17.0 |
Total |  | $ | 17.5 |  |  |  | 27.7 |  |  |  | 17.3 |
Tax benefit |  | $ | 6.5 |  |  |  | 10.3 |  |  |  | 5.4 |

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