Share-Based Payments (Tables)

3 Months Ended

Mar. 31, 2014

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

Summary of Shares Available for Grant and Stock Option Activity

A summary of shares available for grant and stock option activity is detailed below.

		Options Outstanding
	Shares Available For Grant	Shares		Weighted- Average Exercise Price
Stock Options:
Balance at January 1, 2014	291,000	36,668		$	229.24
Exercised	—	(3,000	)	$	150.00
Forfeited	—	(250	)	$	255.13
Expired	—	—		$	—
Stock options granted	—	—		$	—
Balance at March 31, 2014	291,000	33,418		$	236.16

Schedule of Stock Appreciation Rights Activity

	Stock Appreciation Rights Outstanding
	Awards		Weighted- Average Exercise Price
Stock Appreciation Rights:
Balance at January 1, 2014	99,461		$	156.93
Exercised	(1,475	)	$	114.64
Forfeited	(1,400	)	$	158.38
Granted	—		$	—
Balance at March 31, 2014	96,586		$	157.56

Summary of Information About Stock Options and SARs Outstanding

The following table summarizes information about stock options and SARs outstanding at March 31, 2014.

	Options/SARs Outstanding
	Number Outstanding		Weighted- Average Remaining Contractual Life	Options Exercisable
Exercise prices:
150.00 (options)	2,000		0.2 years	2,000
255.13 (options)	22,418		4.0 years	13,511
208.05 (options)	9,000		4.2 years	9,000
236.00 (SARs)	250		4.4 years	150
114.64 (SARs)	27,068		4.9 years	18,111
132.56 (SARs)	32,268		7.8 years	3,600
210.22 (SARs)	37,000		9.7 years	—
Totals	130,004			46,372
Aggregate intrinsic value (in thousands)	$	7,646		$	3,273

Summary of Assumptions Employed Using Black-Scholes Option Pricing Model

In estimating the fair value of the options outstanding at March 31, 2014 and December 31, 2013, the Company employed the Black-Scholes option pricing model with assumptions as detailed below.

	March 31, 2014		December 31, 2013
Expected term of options	0 to 10 years		0 to 10 years
Expected volatility:
Range	16.13% to 39.12%		21.03% to 42.71%
Weighted-average	20.83	%	30.50	%
Expected dividend yield	0.15	%	0.16	%
Risk-free rate:
Range	0.12% to 1.52%		0.12% to 3.93%
Weighted-average	0.35	%	2.10	%