Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.20.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of stock-based compensation expense
Stock-based compensation expense under the Company’s plans was as follows:
 
 
Three Months Ended
 
 
March 31,
 
 
2020
 
2019
Stock-based compensation expense
 
$
13,765

 
$
12,864

Tax effect on stock-based compensation expense
 
(3,510
)
 
(3,256
)
Net effect on income

$
10,255

 
$
9,608


Schedule of weighted average assumptions used to value options granted
The following weighted average assumptions were used to value options granted during the periods indicated:
 
 
Three Months Ended
 
 
March 31,
 
 
2020
 
2019
Grant date fair value of options
 
$

 
$
21.55

Volatility
 
%
 
40.0
%
Risk-free interest rate
 
%
 
2.5
%
Dividend yield
 
%
 
%
Expected term (in years)
 
0

 
6.5


Summary of option activity under the company's plans
The following table summarizes 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, 2019
 
1,150,586

 
$
25.66

 
3.4
 
$
50,590

Granted
 

 

 
 
 
 
Exercised
 
(357,974
)
 
16.57

 
 
 
 
Forfeited
 
(7,213
)
 
48.70

 
 
 
 
Outstanding as of March 31, 2020
 
785,399

 
29.60

 
3.6
 
19,010

Options exercisable
 
745,220

 
$
28.55

 
3.4
 
$
18,819


Summary of the activity for unvested restricted stock units and awards granted under the Company's plans
The following is a summary of the activity for unvested restricted stock units and performance stock units granted under the Company’s plans:
 
 
RSUs
 
PSUs
 
 
Number of
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
 
Number of
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
Outstanding as of December 31, 2019
 
1,318,870

 
$
58.88

 
254,118

 
$
67.96

Granted
 
907,042

 
75.53

 
67,793

 
81.42

Vested
 
(398,881
)
 
55.93

 

 

Forfeited
 
(41,175
)
 
59.74

 
(33,010
)
 
64.70

Outstanding as of March 31, 2020
 
1,785,856

 
67.98

 
288,901

 
71.49