Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock-based compensation expense
Stock-based compensation expense under the Company’s plans was as follows:
 
 
Three Months Ended
 
 
March 31,
 
 
2019
 
2018
Stock-based compensation expense
 
$
12,864

 
$
8,495

Tax effect on stock-based compensation expense
 
(3,256
)
 
(2,149
)
Net effect on income
 
$
9,608

 
$
6,346

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,
 
 
2019
 
2018
Grant date fair value of options
 
$21.55
 
$
—

Volatility
 
40.0
%
 
—
%
Risk-free interest rate
 
2.5
%
 
—
%
Dividend yield
 
—
%
 
—
%
Expected term (in years)
 
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, 2018
 
1,887,969

 
$
20.05

 
3.4
 
$
56,046

Granted
 
81,807

 
49.02

 
 
 
 
Exercised
 
(200,326
)
 
16.91

 
 
 
 
Forfeited
 
(1,100
)
 
31.70

 
 
 
 
Outstanding as of March 31, 2019
 
1,768,350

 
21.74

 
3.5
 
77,197

Options exercisable
 
1,655,119

 
$
20.23

 
3.1
 
$
74,744

Summary of the activity for unvested restricted stock units and awards granted under the Company's plans
Periodically, the Company grants restricted stock unit awards to employees. The following is a 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, 2018
 
1,585,788

 
$
46.33

Granted
 
940,614

 
61.18

Vested
 
(479,479
)
 
45.98

Forfeited
 
(24,866
)
 
51.27

Outstanding as of March 31, 2019
 
2,022,057

 
$
53.26