XML 29 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
Equity Compensation (Tables)
6 Months Ended
Jun. 30, 2016
Equity Compensation [Abstract]  
Schedule of Equity Compensation Expense and Related Income Tax Benefit Recognized
The following table summarizes the equity compensation expense and related income tax benefit recognized in the Consolidated Statements of Income (in thousands): 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2016
 
2015
 
2016
 
2015
Stock options:
 
 
 
 
 
 
 
Pre-tax compensation expense
$
4

 
$
17

 
$
9

 
$
34

Tax benefit
2

 
6

 
4

 
13

Stock option expense, net of tax
$
2

 
$
11

 
$
5

 
$
21

Restricted awards:
 
 
 
 
 
 
 
Pre-tax compensation expense
$
800

 
$
1,024

 
$
930

 
$
2,041

Tax benefit
313

 
404

 
363

 
806

Restricted award expense, net of tax
$
487

 
$
620

 
$
567

 
$
1,235

Performance awards:
 
 
 
 
 
 
 
Pre-tax compensation expense
$
530

 
$
953

 
$
111

 
$
1,708

Tax benefit
206

 
377

 
43

 
675

Performance award expense, net of tax
$
324

 
$
576

 
$
68

 
$
1,033

Schedule of Equity Compensation Stock Options Activity
The following table summarizes stock option activity for the six months ended June 30, 2016:

 
Number of
Options
(in thousands)
 
Weighted
Average
Exercise
Price ($)
 
Weighted
Average
Remaining
Contractual
Term
(Years)
 
Aggregate
Intrinsic Value
(in thousands)
Outstanding at beginning of period
192

 
$
18.29

 

 

Granted

 

 

 

Exercised
(10
)
 
18.03

 

 

Forfeited
(2
)
 
22.28

 

 

Expired

 

 

 

Outstanding at end of period
180

 
18.27

 
2.39
 
$
848

Exercisable at end of period
172

 
18.07

 
2.24
 
$
842

Schedule of Equity Compensation, Restricted Stock and Restricted Stock Units Activity
The following table summarizes restricted award activity for the six months ended June 30, 2016:

 
Number of
Restricted
Awards (in
thousands)
 
Weighted
Average Grant
Date Fair
Value ($)
Nonvested at beginning of period
445

 
$
24.32

Granted

 

Vested
(2
)
 
24.08

Forfeited
(44
)
 
21.21

Nonvested at end of period
399

 
24.66

Schedule of Equity Compensation Performance Award Activity
The following table summarizes performance award activity for the six months ended June 30, 2016:

 
Number of
Performance
Awards (in
thousands)
 
Weighted
Average Grant
Date Fair
Value ($)
Nonvested at beginning of period
258

 
$
27.23

Granted
110

 
26.53

Vested
(60
)
 
27.11

Forfeited
(75
)
 
27.45

Nonvested at end of period
233

 
26.86

Schedule of Equity Compensation Performance Award Valuation Assumptions
The present value of estimated future dividends was calculated using the following assumptions:
 
 
 
 
 
 
 
Six Months Ended
June 30,
 
 
 
 
 
 
 
2016
 
2015
Dividends per share (quarterly amounts)
 
 
 
 
 
 
$
0.06

 
$
0.05

Risk-free interest rate
 
 
 
 
 
 
1.5
%
 
1.6
%