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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following table discloses the amount of stock-based compensation expense for the three- and six-month periods ended June 30, 2014 and 2015:


	Three Months Ended June 30				Six Months Ended June 30
	2014		2015		2014		2015
Stock options	$	1,075	$	2,323	$	2,089	$	3,378
Restricted stock units		153		1,888		309		3,082
Performance stock units		948		1,887		1,214		2,214

Total stock based compensation	$	2,176	$	6,098	$	3,612	$	8,674

Weighted-Average Assumptions

The fair value of the options granted was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:


	2014
Risk-free interest rate		2.00	%
Dividend yield		1.8	%
Expected volatility of the Company’s common stock		0.640
Expected life in years		6.0

Details of Stock Options Activity

The following table provides details of the stock option activity for the six months ended June 30, 2015:


	Number of Shares
Outstanding at January 1, 2015		1,765,922
Granted		—
Exercised		(766,813	)
Expired		(16,159	)
Canceled		(53,632	)

Outstanding at June 30, 2015		929,318
Exercisable		600,959

Details of Nonvested Restricted Stock Units Activity

The following table provides details of the nonvested restricted stock unit activity for the six months ended June 30, 2015:


	Number of Restricted Stock Units
Nonvested at January 1, 2015		197,838
Granted		108,052
Vested		(30,886	)
Canceled		(17,998	)
Accrued dividend equivalents		1,485

Nonvested at June 30, 2015		258,491

Performance Based Units Earned under Long-Term Incentive Plan

The following table provides details of the nonvested performance stock units under the Company’s Long-Term Incentive Plans:


	Number of Performance Stock Units
Performance stock units outstanding at January 1, 2015		83,515
Granted		117,789
Canceled		(7,602	)
Accrued dividend equivalents		537

Performance stock units outstanding at June 30, 2015		194,239