Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.10.0.1
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Weighted Average Assumptions Use in Calculation of Fair Value for Service and Performance Conditions SARs Awards The following table summarizes the weighted-average assumptions used in the calculation of the fair value for service condition SARs awards for the years ended December 31, 2017, and 2016:

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

Expected volatility

 

 

49.2

%

 

 

49.6

%

Dividend yield

 

 

0.0

%

 

 

0.1

%

Expected term

 

6.0 years

 

 

6.0 years

 

Risk-free interest rate

 

 

2.2

%

 

 

1.2

%

 

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

Expected volatility

 

 

49.6

%

 

 

49.6

%

Dividend yield

 

 

0.0

%

 

 

0.0

%

Expected term

 

6.1 years

 

 

6.0 years

 

Risk-free interest rate

 

 

2.2

%

 

 

1.2

%

 
Summary of Activities Under Share-Based Compensation Plans

The following table summarizes the activities for SARs under all share-based compensation plans for the year ended December 31, 2018:

 

 

 

Number of Awards

 

 

Weighted-Average Exercise Price Per Award

 

 

Weighted-Average Remaining Contractual Term

 

Aggregate Intrinsic Value(1)

 

 

 

(in thousands)

 

 

 

 

 

 

 

 

(in millions)

 

Outstanding as of December 31, 2017(2)(3)

 

 

19,193

 

 

$

23.36

 

 

6.2 years

 

$

212.0

 

Granted

 

 

—

 

 

$

—

 

 

 

 

 

 

 

Exercised(4)

 

 

(10,369

)

 

$

20.34

 

 

 

 

 

 

 

Forfeited(5)

 

 

(354

)

 

$

28.91

 

 

 

 

 

 

 

Outstanding as of December 31, 2018(2)(3)

 

 

8,470

 

 

$

26.82

 

 

6.1 years

 

$

272.1

 

Exercisable as of December 31, 2018(6)

 

 

5,220

 

 

$

25.03

 

 

5.0 years

 

$

177.1

 

Vested and expected to vest as of December 31, 2018

 

 

8,279

 

 

$

26.76

 

 

6.0 years

 

$

266.5

 

 

(1)

The intrinsic value is the amount by which the current market value of the underlying stock exceeds the exercise price of the stock awards.

(2)

Includes less than 0.1 million and 0.2 million market condition SARS as of December 31, 2018 and 2017, respectively.

(3)

Includes 3.1 million and 6.2 million performance condition SARs as of December 31, 2018 and 2017, respectively.

(4)

Includes 0.2 million market condition and 3.0 million performance condition SARs.

(5)

Includes 0.1 million performance condition SARs.

(6)

Includes less than 0.1 million market condition and 1.8 million performance condition SARs.

The following table summarizes the activities for stock units under all share-based compensation plans for the year ended December 31, 2018:

 

 

 

Number of Shares

 

 

Weighted-Average Grant Date Fair Value Per Share

 

 

 

(in thousands)

 

 

 

 

 

Outstanding and nonvested as of December 31, 2017(1)

 

 

326

 

 

$

34.34

 

Granted(2)

 

 

1,386

 

 

$

43.75

 

Vested

 

 

(44

)

 

$

35.62

 

Forfeited

 

 

(57

)

 

$

43.15

 

Outstanding and nonvested as of December 31, 2018(1)

 

 

1,611

 

 

$

42.09

 

Expected to vest as of December 31, 2018(3)

 

 

1,111

 

 

$

43.47

 

 

(1)

Includes 708,836 and 268,776 performance based stock unit awards as of December 31, 2018 and 2017, respectively, which represents the maximum amount that can vest.

(2)

Includes 440,060 performance-based stock unit awards, which represents the maximum amount that can vest.

(3)

Includes 261,297 performance-based stock unit awards.