Stock-Based Compensation (Tables)
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9 Months Ended |
Sep. 30, 2016 |
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| Stock-Based Compensation |
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| Schedule of stock-based compensation expense |
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Three Months Ended
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Nine Months Ended
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September 30,
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September 30,
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2016
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2015
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2016
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2015
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Stock-based compensation expense
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$
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7,554
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$
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3,408
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$
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25,872
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$
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10,157
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Tax effect on stock-based compensation expense
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(3,022)
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(1,363)
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(10,349)
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(4,063)
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Net effect on income
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$
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4,532
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$
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2,045
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$
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15,523
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$
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6,094
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| Schedule of weighted average assumptions used to value options granted |
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Three Months Ended
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Nine Months Ended
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September 30,
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September 30,
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2016
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2015
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2016
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2015
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Grant date fair value of options
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$
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14.46
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$
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—
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$
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9.56
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$
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20.90
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Volatility
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42.2
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%
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—
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%
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42.2
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%
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37.2
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%
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Risk-free interest rate
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1.1
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%
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—
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%
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1.4
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%
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1.7
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%
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Dividend yield
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—
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%
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—
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%
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—
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%
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—
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%
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Expected term (in years)
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5.0
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—
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6.3
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6.0
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| Summary of option activity under the Company's plans |
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Weighted-Average
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Weighted-
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Remaining
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Average
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Contractual Life
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Aggregate
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Options
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Exercise Price
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(Years)
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Intrinsic Value
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Outstanding as of December 31, 2015
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3,533,791
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$
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15.03
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4.7
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$
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61,199
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Granted
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105,645
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20.51
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Exercised
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(152,220)
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7.93
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Forfeited
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(38,777)
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35.93
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Outstanding as of March 31, 2016
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3,448,439
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15.27
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4.7
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50,987
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Granted
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55,719
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31.03
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Exercised
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(96,068)
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11.17
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Forfeited
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(24,191)
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33.35
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Outstanding as of June 30, 2016
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3,383,899
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15.43
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4.5
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67,219
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Granted
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2,500
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38.05
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Exercised
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(99,957)
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8.88
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Forfeited
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(3,111)
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45.51
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Outstanding as of September 30, 2016
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3,283,331
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15.62
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4.3
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73,756
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Options exercisable
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2,922,108
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13.22
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3.8
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71,331
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| Summary of the activity for unvested restricted stock awards granted under the Company's plans |
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Weighted-
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Average Grant
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Number of
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Date Fair Value
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Shares
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per Share
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Outstanding as of December 31, 2015
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2,153,211
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35.63
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Granted
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424,844
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20.57
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Vested
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(782,598)
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35.09
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Forfeited
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(87,513)
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32.94
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Outstanding as of March 31, 2016
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1,707,944
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33.40
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Granted
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237,605
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30.97
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Vested
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(110,999)
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31.40
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Forfeited
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(42,781)
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27.33
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Outstanding as of June 30, 2016
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1,791,769
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31.57
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Granted
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290,000
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38.05
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Vested
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(75,642)
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31.20
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Forfeited
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(24,352)
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30.60
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Outstanding as of September 30, 2016
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1,981,775
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31.76
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