XML 59 R44.htm IDEA: XBRL DOCUMENT v3.3.1.900
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Cash Proceeds Received from Share-based Payment Awards
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
 
 
(Amounts in thousands)
Cash received from stock option exercises
 
$
2,111

 
$
6,247

 
$
1,446

Compensation cost
 
5,208

 
4,112

 
974

Excess tax benefit
 
27

 
148

 
202

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table provides the assumptions used in the calculation of grant-date fair values of stock options awarded during 2013 based on the Black-Scholes option pricing model.
 
2013
Weighted-average grant-date fair value
$7.11
Expected volatility
33.16% - 33.18%
Weighted-average expected volatility
33.17%
Risk-free interest rate
0.88% - 1.60%
Expected dividend yield
5.40% - 5.76%
Expected term in months
72
Summary of Stock Option Activity
The following table presents a summary of the stock option activity under the Company’s plans for the year ended December 31, 2015:
 
Shares
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Term
(Years)
 
Aggregate
Intrinsic Value
(in 000’s)
Outstanding at January 1, 2015
248,000

 
$
49.85

 
 
 
 
Granted

 


 
 
 
 
Exercised
(43,000)

 
$
49.10

 
 
 
 
Canceled or expired
(37,000)

 
$
58.48

 
 
 
 
Outstanding at December 31, 2015
168,000

 
$
48.14

 
3.8
 
$
305

Exercisable at December 31, 2015
128,000

 
$
49.58

 
2.7
 
$
183

Schedule of Options Authorized under Stock Option Plans, by Exercise Price Range
The following table presents information regarding stock options outstanding at December 31, 2015:
 
Options Outstanding
 
Options Exercisable
Range of Exercise Prices
Number of
Options
 
Weighted-Average
Remaining
Contractual Life
(Years)
 
Weighted-
Average  Exercise
Price
 
Number of
Options
 
Weighted-
Average  Exercise
Price
$33.61-$47.61
88,000
 
6.1
 
$
43.29

 
48,000
 
$
43.09

$50.01-$51.51
38,000
 
2.0
 
$
50.72

 
38,000
 
$
50.72

$54.93-$57.50
42,000
 
0.8
 
$
55.96

 
42,000
 
$
55.96

Summary of Grants
The following table presents the restricted stock unit grants summary at December 31, 2015:
 
Grant Year
 
2015
 
2014
 
2013
Three-year performance period ending December 31,
2017

 
2016

 
2015

Vesting shares, target (net of forfeited)
99,250

 
85,500

 
78,500

Vesting shares, maximum (net of forfeited)
186,094

 
160,313

 
176,625

Summary of Vested And Unvested RSU
The following table presents a summary of restricted stock unit awards activity during the years indicated:
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
Shares
 
Weighted-
Average Fair
Value per Share
 
Shares
 
Weighted-
Average  Fair
Value per Share
 
Shares
 
Weighted-
Average  Fair
Value per Share
Outstanding at January 1
167,000

 
$
41.15

 
170,500

 
$
39.64

 
169,000

 
$
42.22

Granted
100,250

 
$
53.80

 
93,500

 
$
45.17

 
84,500

 
$
36.82

Vested

 
 
 

 
 
 

 
 
Forfeited/Canceled
(4,000)

 
$
43.10

 
(16,500)

 
$
43.99

 
(3,000)

 
$
36.82

Expired

 
$

 
(80,500)

 
$
44.01

 
(80,000)

 
$
40.22

Outstanding at December 31
263,250

 
$
45.94

 
167,000

 
$
41.15

 
170,500

 
$
39.64