STOCK-BASED COMPENSATION PLANS: (Tables)

12 Months Ended

Dec. 31, 2015

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

Schedule of changes in unvested restricted stock

The following is a summary of changes in unvested restricted stock:

	RSAs		Weighted-Average Price
Unvested shares at December 31, 2014	229,700		$	18.71
2015 Activity:
Granted	101,050		24.93
Vested	(192,850	)	16.89
Forfeited	—		—
Unvested shares at December 31, 2015	137,900		25.81

Schedule of assumptions used to estimate the value of SARs

We valued the SARs using the Black-Scholes model and the following assumptions:

	2015		2014		2013
Risk-free interest rate	1.3	%	1.5	%	0.9	%
Expected years until exercise	5 years		5 years		5 years
Expected volatility	47	%	65	%	73	%
Annual dividend yield	2.7	%	2.2	%	4.3	%

Summary of SARS Activity

The following is a summary of the 2015 activity:

	SARs	Weighted- Average Price
Outstanding at December 31, 2014	1,600,000	$	15.08
2015 Activity:
Granted	310,000	24.93
Exercised	—	—
Outstanding SARs at December 31, 2015	1,910,000	16.68

The stock options are granted with an exercise price equal to the closing price of the stock on the date of grant and have a 10 year contractual life.

	Options	Weighted- Average Price
Outstanding at December 31, 2014	125,000	$	27.36
2015 Activity:
Granted	125,000	32.54
Exercised	—	—
Outstanding Options at December 31, 2015	250,000	29.95

Schedule of assumptions used to estimate the value of stock options under ESPP

We used the following inputs to the model to value the options granted on December 31, 2015 and 2014, which have an exercise price of $32.54 and $27.36 per share, respectively:

	2015		2014
Risk-free interest rate	1.9	%	1.8	%
Expected years to exercise	5 years		5 years
Expected volatility	42.1	%	47.6	%
Annual dividend yield	2.0	%	2.3	%