Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Assumptions Used to Estimate Fair Value of Each SAR

The fair value of each SAR is estimated on the date of grant using a Black-Scholes option-pricing formula. For SARs issued in the three months ended March 31, 2014 and 2013, respectively, the assumptions shown in the following table were used:

	Three Months Ended March 31,
	2014			2013
Weighted-average fair value of grants	$	37.40		$	23.34
Dividend yield		0	%		0	%
Average risk-free interest rate		1.8	%		0.7	%
Expected term (years)		5			5
Expected volatility		54	%		64	%

Summary of Stock-Based Compensation Grants

The following table summarizes the Company’s stock-based compensation grants for the three months ended March 31, 2014:

	Stock Awards Granted		Weighted-Average Grant Price Per Share
Stock appreciation rights		1,562	$	78.15
Time-based restricted stock		27,062	$	67.45
Performance-based restricted stock		21,338	$	67.43

Summary of Stock-Based Compensation Expense

The following table summarizes the Company’s stock-based compensation expense for the three months ended March 31, 2014 and 2013 (in thousands):

	Three Months Ended March 31,
	2014		2013
Stock appreciation rights	$	370	$	331
Time-based restricted stock		708		537
Performance-based restricted stock		82		—
Employee stock purchase plan		10		27
Total stock-based compensation	$	1,170	$	895