Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Weighted-Average Assumptions Used to Estimate Grant Date Fair Values for Stock Options Granted

Weighted-average assumptions used to estimate the grant date fair values for stock options granted for the three and six month periods ended June 30, 2016 and 2015 follow:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2016			2015			2016			2015
Volatility		34.87	%		37.91	%		35.13	%		37.95	%
Expected term (in years)		5.00			5.00			5.00			5.00
Dividend yield		2.16	%		1.97	%		2.19	%		2.00	%
Risk-free interest rate		1.40	%		1.35	%		1.42	%		1.37	%

Stock Option Activity

Stock option activity from January 1, 2016 to June 30, 2016 follows:

				Weighted
				Average
	Underlying			Exercise Price
	Shares			Per Share
Outstanding at January 1, 2016		6,307,250		$	21.68
Granted		894,900		$	18.35
Exercised		—		$	-
Cancelled		—		$	-
Expired		(50,000	)	$	29.24
Outstanding at June 30, 2016		7,152,150		$	21.21
Exercisable at June 30, 2016		5,666,148		$	21.48

Restricted Stock Activity

Restricted stock activity from January 1, 2016 to June 30, 2016 follows:

				Weighted
				Average Grant
				Date Fair Value
	Shares			Per Share
Non-vested restricted stock outstanding at January 1, 2016		1,432,250		$	24.56
Granted		748,825		$	20.66
Vested		(670,987	)	$	24.53
Forfeited		(26,626	)	$	24.76
Non-vested restricted stock outstanding June 30, 2016		1,483,462		$	22.60

Restricted Stock Unit Activity

Restricted stock unit activity from January 1, 2016 to June 30, 2016 follows:

				Weighted
				Average Grant
				Date Fair Value
	Shares			Per Share
Non-vested restricted stock units outstanding at January 1, 2016		41,686		$	26.22
Granted		18,350		$	21.71
Vested		(15,033	)	$	27.30
Forfeited		(7,668	)	$	24.83
Non-vested restricted stock units outstanding June 30, 2016		37,335		$	23.86

Performance Units

The total target number of shares with respect to the Performance Units for the awards in 2012-2016 is set forth below:

	2016		2015		2014		2013		2012
	Performance		Performance		Performance		Performance		Performance
	Unit Awards		Unit Awards		Unit Awards		Unit Awards		Unit Awards
Target number of shares		185,000		190,600		154,000		236,500		192,000

Fair Value of Performance Units

The fair value of the Performance Units is set forth below (in thousands):

	2016		2015		2014		2013		2012
	Performance		Performance		Performance		Performance		Performance
	Unit Awards		Unit Awards		Unit Awards		Unit Awards		Unit Awards
Fair value at date of grant	$	3,854	$	4,052	$	5,388	$	5,564	$	3,065

Compensation Expense Associated with Performance Units

These fair value amounts are charged to expense on a straight-line basis over the performance period. Compensation expense associated with the Performance Units is shown below (in thousands):

	2016		2015		2014		2013		2012
	Performance		Performance		Performance		Performance		Performance
	Unit Awards		Unit Awards		Unit Awards		Unit Awards		Unit Awards
Three months ended June 30, 2015	NA		$	338	$	449	$	464	NA
Three months ended June 30, 2016	$	321	$	338	$	449	NA		NA
Six months ended June 30, 2015	NA		$	338	$	898	$	928	$	255
Six months ended June 30, 2016	$	321	$	675	$	898	$	464	NA