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Share-Based Compensation and Non-Qualified Deferred Compensation Plan (Tables)

3 Months Ended

Mar. 31, 2015

Schedule Of Share Based Compensation Shares Authorized Under Stock Option Plans By Exercise Price Range And Intrinsic Value

The following table summarizes outstanding share options, all of which were exercisable, at March 31, 2015:



	Options Outstanding and Exercisable (1)
Range of Exercise Prices	Number	Weighted Average Price
$30.06	105,015	$	30.06
$41.16 - $43.94	119,242	42.46
$48.02 - $75.17	70,948	60.92
Total options	295,205	$	42.49


(1)	The aggregate intrinsic value of options outstanding and exercisable at March 31, 2015 was $10.5 million. The aggregate intrinsic value was calculated as the excess, if any, between our closing share price of $78.13 per share on March 31, 2015 and the strike price of the underlying award.

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The following assumptions were used for the reload options granted during the three months ended March 31, 2015:



	Three Months Ended
	March 31, 2015
Weighted average fair value of options granted	$5.52 - $7.38
Expected volatility	16.5% - 18.8%
Risk-free interest rate	1.0% - 1.3%
Expected dividend yield	3.5% - 3.7%
Expected life	3 years - 4 years

Summary Of Share Incentive Plans

The following table summarizes activity under our share incentive plans for the three months ended March 31, 2015:



	Options Outstanding		Weighted Average Exercise / Grant Price		Nonvested Share Awards Outstanding		Weighted Average Exercise / Grant Price
Options and nonvested share awards outstanding at December 31, 2014	321,811		$	38.97	818,943		$	63.39
Granted	26,752		75.17		233,902		74.40
Exercised/Vested	(53,358	)	37.69		(292,195	)	60.24
Forfeited	—		—		(1,570	)	65.93
Total options and nonvested share awards outstanding at March 31, 2015	295,205		$	42.49	759,080		$	67.99

Summary of non-qualified deferred compensation share award activity

The following table summarizes the eligible share award activity as recorded in temporary equity for the three months ended March 31, 2015:



	Three Months Ended
(in thousands)	March 31, 2015
Temporary equity:
Balance at December 31, 2014	$	68,134
Change in classification	1,024
Change in redemption value	3,764
Diversification of share awards	(3,020		)
Balance at March 31, 2015	$	69,902

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

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