v3.7.0.1

Stock-based Compensation (Tables)

12 Months Ended

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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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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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.

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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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.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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