Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.8.0.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2017
Stock-Based Compensation  
Schedule of stock-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

2017

    

2016

    

2015

Stock-based compensation expense

 

$

31,331

 

$

33,276

 

$

15,161

Tax effect on stock-based compensation expense

 

 

(11,906)

 

 

(13,001)

 

 

(7,678)

Net effect on income

 

$

19,425

 

$

20,275

 

$

7,483

 

Schedule of weighted average assumptions used to value options granted

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31,

 

 

    

2017

    

2016

    

2015

 

Grant date fair value of options

 

$

14.51

 

$

9.56

 

$

19.06

 

Volatility

 

 

43.8

%  

 

42.2

%  

 

37.8

%  

Risk-free interest rate

 

 

2.1

%  

 

1.4

%  

 

1.8

%  

Dividend yield

 

 

 —

%  

 

 —

%  

 

 —

%  

Expected term (in years)

 

 

6.3

 

 

6.3

 

 

6.0

 

 

Summary of option activity under the Company's plans

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

 

 

    

Weighted-Average

    

 

 

 

 

 

 

Weighted-

 

Remaining

 

 

 

 

 

 

 

Average

 

Contractual Life

 

Aggregate

 

 

Options

 

Exercise Price

 

(Years)

 

Intrinsic Value

Outstanding as of December 31, 2014

 

4,265,337

 

$

10.73

 

4.7

 

$

163,830

  Granted

 

358,087

 

 

48.38

 

 

 

 

 

  Exercised

 

(1,047,911)

 

 

7.90

 

 

 

 

 

  Forfeited

 

(41,722)

 

 

41.10

 

 

 

 

 

Outstanding as of December 31, 2015

 

3,533,791

 

 

15.03

 

4.7

 

 

61,199

  Granted

 

163,864

 

 

22.38

 

 

 

 

 

  Exercised

 

(598,382)

 

 

8.23

 

 

 

 

 

  Forfeited

 

(66,079)

 

 

35.08

 

 

 

 

 

Outstanding as of December 31, 2016

 

3,033,194

 

 

16.33

 

4.3

 

 

63,264

  Granted

 

75,238

 

 

31.70

 

 

 

 

 

  Exercised

 

(837,857)

 

 

9.49

 

 

 

 

 

  Forfeited

 

(16,010)

 

 

37.42

 

 

 

 

 

Outstanding as of December 31, 2017

 

2,254,565

 

 

19.23

 

4.3

 

 

69,939

Options exercisable

 

2,041,660

 

 

17.74

 

3.8

 

 

66,291

 

Schedule of other information

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

    

2017

    

2016

    

2015

 

Total intrinsic value of options exercised

 

$

29,562

 

$

14,165

 

$

37,879

 

Cash received from exercises of stock options

 

 

7,951

 

 

4,924

 

 

8,279

 

 

Summary of the activity for unvested restricted stock units and awards granted under the Company's plans

 

 

 

 

 

 

 

    

    

    

Weighted-

 

 

 

 

Average Grant

 

 

Number of

 

Date Fair Value

 

 

Shares

 

per Share

Outstanding as of December 31, 2014

 

1,098,674

 

$

33.72

  Granted

 

1,508,796

 

 

34.55

  Vested

 

(434,292)

 

 

29.26

  Forfeited

 

(19,967)

 

 

38.58

Outstanding as of December 31, 2015

 

2,153,211

 

 

35.63

  Granted

 

1,009,661

 

 

28.82

  Vested

 

(1,082,206)

 

 

29.12

  Forfeited

 

(185,907)

 

 

30.96

Outstanding as of December 31, 2016

 

1,894,759

 

 

30.40

  Granted

 

959,591

 

 

32.38

  Vested

 

(969,513)

 

 

31.51

  Forfeited

 

(118,198)

 

 

30.11

Outstanding as of December 31, 2017

 

1,766,639

 

 

32.48