Stock-Based Compensation (Tables)
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9 Months Ended |
Sep. 30, 2017 |
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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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2017
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2016
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2017
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2016
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Stock-based compensation expense
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$
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8,048
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$
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7,554
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$
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23,451
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$
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25,872
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Tax effect on stock-based compensation expense
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(3,018)
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(3,022)
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(8,794)
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(10,349)
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Net effect on income
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$
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5,030
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$
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4,532
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$
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14,657
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$
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15,523
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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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2017
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2016
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2017
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2016
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Grant date fair value of options
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$
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—
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$
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14.46
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$
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14.51
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$
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9.56
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Volatility
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—
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%
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42.2
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%
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43.8
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%
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42.2
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%
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Risk-free interest rate
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—
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%
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1.1
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%
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2.1
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%
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1.4
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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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—
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5.0
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6.3
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6.3
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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, 2016
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3,033,194
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$
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16.33
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4.3
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$
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63,264
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Granted
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75,238
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31.70
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Exercised
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(208,334)
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9.12
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Forfeited
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(9,062)
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45.81
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Outstanding as of March 31, 2017
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2,891,036
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17.15
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4.5
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50,792
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Granted
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—
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—
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Exercised
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(84,949)
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8.46
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Forfeited
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(1,667)
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32.46
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Outstanding as of June 30, 2017
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2,804,420
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17.41
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4.3
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66,206
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Granted
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—
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—
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Exercised
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(134,890)
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13.71
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Forfeited
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(2,201)
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30.33
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Outstanding as of September 30, 2017
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2,667,329
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17.58
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4.1
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89,739
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Options exercisable
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2,435,815
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16.11
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3.7
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85,448
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| Summary of the activity for unvested restricted stock units and 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, 2016
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1,894,759
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$
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30.40
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Granted
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872,941
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31.89
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Vested
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(526,572)
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31.68
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Forfeited
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(20,084)
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27.52
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Outstanding as of March 31, 2017
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2,221,044
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31.98
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Granted
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47,700
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35.05
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Vested
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(199,163)
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30.59
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Forfeited
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(45,683)
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30.11
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Outstanding as of June 30, 2017
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2,023,898
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32.17
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Granted
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29,000
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39.10
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Vested
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(121,449)
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32.26
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Forfeited
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(30,369)
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31.61
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Outstanding as of September 30, 2017
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1,901,080
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32.28
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