Equity Compensation (Tables)
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12 Months Ended |
Dec. 31, 2016 |
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan |
The amounts of equity-based compensation expense recognized as part of selling, general and administrative expenses in All Other in business segment reporting was as follows (in thousands): | | | | | | | | | | | | | | 2016 | | 2015 | | 2014 | Non-qualified stock options | $ | 745 |
| | $ | 1,228 |
| | $ | 3,356 |
| Restricted stock and restricted stock units | 5,039 |
| | 2,785 |
| | 2,270 |
| Performance shares and performance share units | 1,110 |
| | — |
| | — |
| Total stock-based compensation expense | $ | 6,894 |
| | $ | 4,013 |
| | $ | 5,626 |
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| Schedule of Unrecognized Compensation Cost, Nonvested Awards |
As of December 31, 2016, unrecognized compensation expense related to equity-based compensation arrangements granted under the company's 2013 Plan and previous plans, which is related to non-vested options and shares, was as follows (in thousands): | | | | | | | | | | | | | | 2016 | | 2015 | | 2014 | Non-qualified stock options | $ | 175 |
| | $ | 1,059 |
| | $ | 2,600 |
| Restricted stock and restricted stock units | 8,740 |
| | 9,476 |
| | 4,461 |
| Performance shares and performance share units | 3,134 |
| | — |
| | — |
| Total stock-based compensation expense | $ | 12,049 |
| | $ | 10,535 |
| | $ | 7,061 |
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| Schedule of Share-based Compensation, Stock Options, Activity |
Generally, non-qualified stock option awards typically have a term of ten years and were granted with an exercise price per share equal to the fair market value of the company’s Common Shares on the date of grant. The company expects the compensation expense to be recognized over a weighted-average period of approximately 2 years.
The following table summarizes information about stock option activity for the three years ended 2016, 2015 and 2014: | | | | | | | | | | | | | | | | | | | | | | | | | | 2016 | | Weighted Average Exercise Price | | 2015 | | Weighted Average Exercise Price | | 2014 | | Weighted Average Exercise Price | Options outstanding at January 1 | 2,942,783 |
| | $ | 21.22 |
| | 3,600,132 |
| | $ | 22.74 |
| | 4,533,782 |
| | $ | 23.86 |
| Granted | — |
| | — |
| | — |
| | — |
| | 8,977 |
| | 16.71 |
| Exercised | (1,250 | ) | | 13.82 |
| | (172,218 | ) | | 13.95 |
| | (33,810 | ) | | 14.16 |
| Canceled | (398,801 | ) | | 21.47 |
| | (485,131 | ) | | 34.98 |
| | (908,817 | ) | | 28.57 |
| Options outstanding at December 31 | 2,542,732 |
| | $ | 21.19 |
| | 2,942,783 |
| | $ | 21.22 |
| | 3,600,132 |
| | $ | 22.74 |
| Options exercise price range at December 31 | $ 13.37 to |
| | | | $ 13.37 to |
| | | | $ 13.37 to |
| | | | $ | 33.36 |
| | | | $ | 33.36 |
| | | | $ | 47.80 |
| | | Options exercisable at December 31 | 2,513,614 |
| | | | 2,656,983 |
| | | | 2,954,082 |
| | | Shares available for grant at December 31* | 3,891,121 |
| | | | 2,659,562 |
| | | | 3,654,426 |
| | |
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| Schedule of Share-based Compensation, Stock Options Outstanding |
The following table summarizes information about stock options outstanding at December 31, 2016: | | | | | | | | | | | | | | | | | | Options Outstanding | | Options Exercisable | Exercise Prices | Number Outstanding At 12/31/16 | | Weighted Average Remaining Contractual Life Years | | Weighted Average Exercise Price | | Number Exercisable At 12/31/16 | | Weighted Average Exercise Price | $ 13.37 – $20.00 | 686,671 |
| | 5.7 | | $ | 14.13 |
| | 657,553 |
| | $ | 14.07 |
| $ 20.01 – $25.00 | 1,099,977 |
| | 2.8 | | 22.57 |
| | 1,099,977 |
| | 22.57 |
| $ 25.01 – $30.00 | 751,588 |
| | 2.6 | | 25.55 |
| | 751,588 |
| | 25.55 |
| $ 30.01 – $33.36 | 4,496 |
| | 4.4 | | 33.36 |
| | 4,496 |
| | 33.36 |
| Total | 2,542,732 |
| | 3.5 | | $ | 21.19 |
| | 2,513,614 |
| | $ | 21.39 |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions for awards granted in 2014 as no options were granted in 2016 or 2015: | | | | | | | 2014 | Expected dividend yield | | 0.3 | % | Expected stock price volatility | | 36.8 | % | Risk-free interest rate | | 1.76 | % | Expected life in years | | 6.1 |
| Forfeiture percentage | | 13.0 | % |
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| Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity |
The following table summarizes information about restricted shares and restricted share units (primarily for non-U.S. recipients): | | | | | | | | | | | | | | | | | | | | 2016 | Weighted Average Fair Value | | 2015 | Weighted Average Fair Value | | 2014 | Weighted Average Fair Value | Stock / Units unvested at January 1 | 641,505 |
| $ | 18.89 |
| | 312,423 |
| $ | 17.91 |
| | 264,878 |
| $ | 16.69 |
| Granted | 486,711 |
| 12.62 |
| | 480,839 |
| 19.09 |
| | 218,276 |
| 19.36 |
| Vested | (139,298 | ) | 17.86 |
| | (56,976 | ) | 16.47 |
| | (93,140 | ) | 17.62 |
| Canceled | (110,562 | ) | 16.60 |
| | (94,781 | ) | 18.11 |
| | (77,591 | ) | 17.58 |
| Stock / Units unvested at December 31 | 878,356 |
| $ | 15.87 |
| | 641,505 |
| $ | 18.89 |
| | 312,423 |
| $ | 17.91 |
| | | | | | | | | |
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| Share-based Compensation, Performance Shares Award Unvested Activity |
The following table summarizes information about performance shares and performance share units (for non-U.S. recipients): | | | | | | | | | | | | | | | | | | | | | | | 2016 | | Weighted Average Fair Value | | 2015 | | Weighted Average Fair Value | | 2014 | | Weighted Average Fair Value | Shares / Units unvested at January 1 | 198,401 |
| | $ | 19.50 |
| | 121,644 |
| | $ | 20.05 |
| | — |
| | $ | — |
| Granted | 234,402 |
| | 12.82 |
| | 114,257 |
| | 18.95 |
| | 152,800 |
| | 20.05 |
| Vested | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Canceled | (123,335 | ) | | 19.14 |
| | (37,500 | ) | | 19.62 |
| | (31,156 | ) | | 20.05 |
| Shares / Units unvested at December 31 | 309,468 |
| | $ | 14.58 |
| | 198,401 |
| | $ | 19.50 |
| | 121,644 |
| | $ | 20.05 |
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