Stock-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2016 |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Schedule of Impact of Stock-Based Compensation in Consolidated and Combined Statements of Income |
Stock-based compensation expense and the associated tax benefits impacting our Consolidated and Combined Statements of Income were as follows: | | | | | | | | | |
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| Year Ended December 31, | (In thousands) |
| 2016 | | 2015 | Compensation costs for equity-based awards |
| $ | 3,982 |
| | $ | 6,250 |
| Compensation costs for liability-based awards |
| 667 |
| | 408 |
| Total compensation costs, pre-tax |
| $ | 4,649 |
| | $ | 6,658 |
| Future tax benefit |
| $ | 1,654 |
| | $ | 2,373 |
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| Schedule of Non-Qualified Stock Options, Activity |
A summary of the status of our NQOs as of December 31, 2016, 2015 and 2014 and changes during the years then ended is presented below: | | | | | | | | | | | | | | | | | | |
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| Year Ended December 31, |
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| 2016 |
| 2015 |
| 2014 | (In thousands, except per share data) |
| Shares | | Weighted Average Exercise Price Per Share | | Shares | | Weighted Average Exercise Price Per Share | | Shares | | Weighted Average Exercise Price Per Share | Outstanding at January 1, |
| 486 |
| | $19.25 | | 446 |
| | $17.43 | |
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| Granted |
| 87 |
| | $20.06 | | 58 |
| | $31.52 | |
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| Exercised |
| (158 | ) | | $13.63 | | (18 | ) | | $13.37 | |
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| Forfeited, canceled or expired |
| (31 | ) | | $22.51 | | — |
| | $0.00 | |
| |
| Outstanding at Spin-off |
| — |
| | $0.00 | | — |
| | $0.00 | | — |
| | $ | — |
| Conversion related to the Spin-off ¹ |
| — |
| | $0.00 | | — |
| | $0.00 | | 275 |
| | $14.83 | Post Spin-off activities |
| | | | | | | | | | | | Granted |
| — |
| | $0.00 | | — |
| | $0.00 | | 171 |
| | $20.62 | Outstanding at December 31, |
| 384 |
| | $21.47 | | 486 |
| | $19.25 | | 446 |
| | $17.43 | Options exercisable at December 31, |
| 214 |
| | $20.35 | | 212 |
| | $16.13 | | 47 |
| | $13.12 |
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| ¹ The weighted average grant date fair value of the stock options converted is equal to the weighted average grant date fair value of such stock options prior to the Spin-off, reduced by the Spin-off conversion adjustment. |
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| Schedule of Non-Qualified Stock Options Outstanding and Exercisable |
The following table summarizes information about NQOs outstanding and exercisable as of December 31, 2016: | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands, except per share data) | | Options Outstanding | | Options Exercisable | Range of Exercise Prices Per Share | | Number | | Weighted Average Remaining Contractual Life (In Years) | | Weighted Average Exercise Price Per Share | | Aggregate Intrinsic Value | | Number | | Weighted Average Remaining Contractual Life (In Years) | | Weighted Average Exercise Price Per Share | | Aggregate Intrinsic Value | $12.94 - $20.62 | | 283 |
| | 7.78 | | $ | 19.09 |
| | $ | 1,344 |
| | 163 |
| | 7.20 | | $ | 18.19 |
| | $ | 919 |
| $22.16 - $32.04 | | 101 |
| | 7.67 | | 28.10 |
| | — |
| | 51 |
| | 7.49 | | 27.21 |
| | — |
| Total options and aggregate intrinsic value | | 384 |
| | 7.75 | | $ | 21.47 |
| | $ | 1,344 |
| | 214 |
| | 7.27 | | $ | 20.35 |
| | $ | 919 |
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| Schedule of Weighted Average Assumptions |
The following weighted-average assumptions were utilized in deriving the fair value for NQOs: | | | | | | | | | | | | | | | | Year Ending December 31, | |
| 2016 | | 2015 | | 2014 | Expected volatility | | 30.2 | % | | 34.1 | % | | 34.6 | % | Expected life (in years) |
| 7 |
| | 7 |
| | 7 |
| Risk-free rates |
| 1.69 | % | | 2.00 | % | | 2.07 | % | Weighted-average grant date fair value per share |
| $ | 7.06 |
| | $ | 12.42 |
| | $ | 8.24 |
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| Schedule of Restricted Stock Units, Activity |
The table below provides a roll-forward of outstanding RSUs subsequent to the Spin-off. | | | | | | | | | | | | | | | | | | | | |
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| Year Ended December 31, |
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| 2016 |
| 2015 |
| 2014 | (In thousands, except per share data) |
| Shares | | Weighted Average Grant Date Fair Value Per Share | | Shares | | Weighted Average Grant Date Fair Value Per Share | | Shares | | Weighted Average Grant Date Fair Value Per Share | Outstanding at January 1, |
| 350 |
| | $ | 22.47 |
| | 423 |
| | $ | 19.28 |
| | | | | Granted |
| 181 |
| | $ | 21.25 |
| | 104 |
| | $ | 26.69 |
| | | | | Vested |
| (206 | ) | | $ | 20.56 |
| | (171 | ) | | $ | 19.03 |
| | | | | Forfeited or canceled |
| (40 | ) | | $ | 22.68 |
| | (6 | ) | | $ | 19.86 |
| | | | | Outstanding at Spin-off |
| — |
| | $ | — |
| | — |
| | $ | — |
| | — |
| | $0.00 | Conversion related to the Spin-off |
| — |
| | $ | — |
| | — |
| | $ | — |
| | 240 |
| | $17.61 | Post Spin-off activities |
| | | | | | | | | | | | Granted |
| — |
| | $ | — |
| | — |
| | $ | — |
| | 203 |
| | $20.62 | Vested |
| — |
| | $ | — |
| | — |
| | $ | — |
| | (20 | ) | | $13.03 | Forfeited or canceled |
| — |
| | $ | — |
| | — |
| | $ | — |
| | — |
| | $0.00 | Outstanding at December 31, |
| 285 |
| | $ | 23.01 |
| | 350 |
| | $ | 22.47 |
| | 423 |
| | $19.28 |
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