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Common Stock (Tables)
12 Months Ended
Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Treasury Stock by Class
Detail regarding the Company's stock repurchase program are presented below:
 
Since 1999
(a)
 
Authorized
Shares
Shares repurchased (b)
25,406,184

 
 
Cost, including commission (in thousands)
$
423,647

 
 
Total remaining shares available for repurchase at December 31, 2016
 
 
393,816


______________________
(a)
Represents repurchased shares and cost since inception of the stock repurchase program in 1999.
(b)
Shares repurchased does not include 86,735 treasury shares related to employee compensation arrangements outside of the Company's repurchase programs. Beginning in 2015, shares of the Company's common stock issued for employee benefit and stock incentive plans have been issued from the shares repurchased and held in treasury stock. The Company awarded 188,005 shares out of treasury stock during 2016.
Schedule of Earnings Per Share, Basic and Diluted
The basic and diluted earnings per share are presented below: 
 
Years Ended December 31,
 
2016
 
2015
 
2014
Weighted average number of common shares outstanding:
 
 
 
 
 
Basic number of common shares outstanding
40,350,688

 
40,274,986

 
40,190,991

Dilutive effect of unvested performance awards
57,345

 
33,576

 
20,726

Diluted number of common shares outstanding
40,408,033

 
40,308,562

 
40,211,717

Basic net income per common share:
 
 
 
 
 
Net income
$
96,768

 
$
81,918

 
$
91,428

Income allocated to participating restricted stock
(321
)
 
(243
)
 
(301
)
Net income available to common shareholders
$
96,447

 
$
81,675

 
$
91,127

Diluted net income per common share:
 
 
 
 
 
Net income
$
96,768

 
$
81,918

 
$
91,428

Income reallocated to participating restricted stock
(321
)
 
(243
)
 
(301
)
Net income available to common shareholders
$
96,447

 
$
81,675

 
$
91,127

Basic net income per common share:
 
 
 
 
 
Distributed earnings
$
1.225

 
$
1.165

 
$
1.105

Undistributed earnings
1.165

 
0.865

 
1.165

Basic net income per common share
$
2.390

 
$
2.030

 
$
2.270

Diluted net income per common share:
 
 
 
 
 
Distributed earnings
$
1.225

 
$
1.165

 
$
1.105

Undistributed earnings
1.165

 
0.865

 
1.165

Diluted net income per common share
$
2.390

 
$
2.030

 
$
2.270

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The amount of restricted stock awards and performance shares at 100% performance level excluded from the calculation of the diluted number of common shares outstanding because their effect was antidilutive is presented below: 
 
 
Year Ended December 31,
 
 
2016
 
2015
 
2014
Restricted stock awards
 
53,703

 
56,375

 
60,455

Performance shares (a)
 
47,246

 
66,804

 
96,208

_____________________
(a)
Certain performance shares were excluded from the computation of diluted earnings per share as no payouts would have been required based upon performance at the end of each corresponding period.
Restricted Stock  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Expense, Deferred Tax Benefit, and Current Tax Expense Related to Restricted Stock Awards
The expense, deferred tax benefit, and current tax expense recognized related to restricted stock and other stock-based awards in 2016, 2015 and 2014 is presented below (in thousands):
 
 
2016
 
2015
 
2014
 
 
 
Expense (a)
 
$
2,594

 
$
2,755

 
$
3,471

Deferred tax benefit
 
908

 
964

 
1,215

Current tax benefit recognized
 
183

 
43

 
39


_____________________
(a) Any capitalized costs related to these expenses is less than $0.3 million for all years.
Schedule of Restricted Stock Activity
The unvested restricted stock transactions for 2016 are presented below:
 
Total
Shares
 
Weighted
Average
Grant Date
Fair Value
 
Unrecognized Compensation Expense (a)
 
Aggregate Intrinsic Value
 
 
 
 
 
(In thousands)
 
(In thousands)
Restricted shares outstanding at December 31, 2015
91,210

 
$
36.61

 
 
 
 
Stock awards
74,181

 
40.95

 
 
 
 
Vested
(55,503
)
 
35.91

 
 
 
 
Forfeitures
(495
)
 
36.88

 
 
 
 
Restricted shares outstanding at December 31, 2016
109,393

 
39.90

 
$
1,767

 
$
5,087


_______________________
(a) The unrecognized compensation expense is expected to be recognized over the weighted average remaining contractual term of the outstanding restricted stock of approximately one year.
Schedule of Share-based Compensation Award, Restricted Stock, Grants in Period, Weighted Average Grant Date Fair Value
The weighted average fair value per share at grant date for restricted stock and other stock-base awards granted during 2016, 2015 and 2014 were:
 
2016
 
2015
 
2014
Weighted average fair value per share
$
40.95

 
$
37.17

 
$
36.95

Schedule of Share-based Compensation, Activity
The aggregate intrinsic value and fair value at grant date of restricted stock and other stock-based awards which vested in 2016, 2015 and 2014 is presented below (in thousands):
 
 
2016
 
2015
 
2014
 
 
 
Aggregated intrinsic value
 
$
2,515

 
$
3,451

 
$
3,441

Fair value at grant date
 
1,993

 
3,327

 
3,330

Performance Shares  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Compensation Award, Performance-Based Units, Vested and Expected to Vest
Detail of performance shares vested follows:
    
Date Vested
 
Payout Ratio
 
Performance Shares Awarded
 
Compensation Costs Expensed
 
Period Compensation Costs Expensed
 
Aggregated Intrinsic Value
 
 
 
 
 
 
(In thousands)
 
 
 
(In thousands)
January 25, 2017
 
32
%
 
11,314

 
$
932

 
2014-2016
 
$
512

January 27, 2016
 
0
%
 
0

 
851

 
2013-2015
 

February 20, 2015
 
0
%
 
0

 
1,502

 
2012-2014
 

February 18, 2014
 
0
%
 
0

 
954

 
2011-2013
 

Schedule of Performance Stock Activity
The outstanding performance share awards at the 100% performance level is summarized below:    
 
Number
Outstanding
 
Weighted
Average
Grant Date
Fair Value
 
Unrecognized Compensation Expense (b)
 
Aggregate Intrinsic Value
 
 
 
 
 
(In thousands)
 
(In thousands)
Performance shares outstanding at December 31, 2015 (a)
130,136

 
$
32.72

 
 
 
 
Performance share awards
60,835

 
38.11

 
 
 
 
Performance shares expired
(24,527
)
 
34.69

 
 
 
 
Performance shares outstanding at December 31, 2016 (a)
166,444

 
34.40

 
$
2,189

 
$
7,740


_______________________
(a) On December 15, 2015, the Company issued a stock based retention grant to the Chief Executive Officer (CEO) of 27,624 shares in accordance with the Amended and Restated 2007 LTIP that is eligible for vesting based on the achievement of certain performance conditions and a five year service period, as stated in the CEO's employment agreement. The performance condition was met as of November 2016 as determined by the Compensation Committee, and has been included in the beginning and ending balance in the table above.
(b) The unrecognized compensation expense is expected to be recognized over the weighted average remaining contractual term of the awards of approximately one year, except for the CEO retention grant.
Schedule of Share-based Compensation, Activity
A summary of information related to performance shares for 2016, 2015 and 2014 is presented below:
 
2016
 
2015
 
2014
Weighted average per share grant date fair value per share of performance shares awarded
$
38.11

 
$
35.72

 
$
26.36

Compensation expense (in thousands) (a) (b)
1,655

 
1,042

 
1,181

Deferred tax benefit related to compensation expense (in thousands) (b)
579

 
365

 
413


_____________________
(a) Includes adjustments for estimated forfeitures.
(b) Includes CEO retention grant.