Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Awards (Tables)

v3.5.0.2
Stock-Based Awards (Tables)
 6 Months Ended
Jun. 30, 2016
Share-based Compensation [Abstract]  
Stock-Based Compensation Expense
Stock-based compensation expense is included in the following line items in the accompanying consolidated statements of operations (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
2016
 
2015
2016
 
2015
Selling and marketing
$
1,702

 
$
1,598

 
$
3,510

 
$
3,152

General and administrative
3,382

 
3,170

 
6,950

 
6,272

Stock-based compensation expense before income taxes
5,084

 
4,768

 
10,460

 
9,424

Income tax benefit
(1,765
)
 
(1,707
)
 
(3,641
)
 
(3,358
)
Stock-based compensation expense after income taxes
$
3,319

 
$
3,061

 
$
6,819

 
$
6,066

 
 
 
 
 
 
 
 
Summary of Stock-Based Awards Granted
A summary of the stock-based awards granted during the six months ended June 30, 2016 is as follows:
 
Six Months Ended June 30, 2016
 
Number of Awards Granted

Weighted Average per Share Fair Value
Stock appreciation rights
928,990

 
$7.31
Restricted stock units
258,676

 
$45.54
Performance share units
92,290

 
$54.06
Employee stock purchase plan options
29,965

 
$12.18
Dividend equivalents due to quarterly dividend
9,394

 
-
Weighted Average Assumptions Used In Black-Scholes Option Pricing Model
The weighted average assumptions used in the valuation of each for the six months ended June 30, 2016 are as follows: 
 
 
Six Months Ended June 30, 2016
 
 
Stock Appreciation Rights
 
Employee Stock Purchase Plan Options
 
Performance Share Units
Volatility factor
 
26.3
%
 
34.4
%
 
25.2
%
Risk-free interest rate
 
1.23
%
 
0.49
%
 
0.89
%
Expected term
 
4.5

 
0.5

 
2.9

Dividend yield
 
3.1
%
 
2.8
%
 
0.0
%