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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary Information for Restricted Stock Awards and Incentive Compensation Awards

The following table summarizes information for restricted stock awards and incentive compensation awards as of December 31, 2016:

 

 

Restricted Stock -

Service Based

 

 

Restricted Stock -

Performance Based

 

 

Incentive

Compensation

 

 

 

Number of

Awards

 

 

Weighted-

Average

Grant-Date

Fair Value

 

 

Number of

Awards

 

 

Weighted-

Average

Grant-Date

Fair Value

 

 

Number of

Awards

 

 

Weighted-

Average

Grant-Date

Fair Value

 

January 1, 2016

 

 

288,563

 

 

$

120.92

 

 

 

36,607

 

 

$

117.76

 

 

 

37,340

 

 

$

106.45

 

Awarded

 

 

73,550

 

 

$

128.48

 

 

 

75,421

 

 

$

124.41

 

 

 

18,570

 

 

$

124.41

 

Distributed

 

 

(51,849

)

 

$

104.82

 

 

 

 

 

$

 

 

 

(14,665

)

 

$

107.01

 

Forfeited

 

 

(2,947

)

 

$

129.59

 

 

 

(711

)

 

$

124.41

 

 

 

(696

)

 

$

108.28

 

December 31, 2016

 

 

307,317

 

 

$

125.36

 

 

 

111,317

 

 

$

122.22

 

 

 

40,549

 

 

$

114.44

 

 

Summary Information for Stock Options

The following table includes summary information for stock options as of December 31, 2016:

 

 

Number of

Options

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-Average Remaining Contractual Life (years)

 

Outstanding at January 1, 2016

 

 

686,012

 

 

$

95.43

 

 

 

 

 

Exercised

 

 

(276,240

)

 

$

98.67

 

 

 

 

 

Terminated

 

 

(2,881

)

 

$

89.06

 

 

 

 

 

Outstanding at December 31, 2016

 

 

406,891

 

 

$

93.27

 

 

 

3.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31, 2016

 

 

324,979

 

 

$

82.63

 

 

 

3.0

 

 

Schedule of Stock-Based Compensation Expense

The following table summarizes stock-based compensation expense for the years ended December 31, 2016, 2015 and 2014, unrecognized compensation cost for nonvested awards at December 31, 2016 and the weighted-average period over which unrecognized compensation cost will be recognized:

 

(add 000, except year data)

 

Stock

Options

 

 

Restricted

Stock

 

 

Incentive Compensation

 

 

Directors’ Awards

 

 

Total

 

Stock-based compensation expense recognized for years

   ended December 31:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

$

1,646

 

 

$

17,747

 

 

$

442

 

 

$

646

 

 

$

20,481

 

2015

 

$

2,679

 

 

$

9,809

 

 

$

376

 

 

$

725

 

 

 

13,589

 

2014

 

$

2,020

 

 

$

6,189

 

 

$

257

 

 

$

527

 

 

 

8,993

 

Unrecognized compensation cost at December 31, 2016:

 

$

1,045

 

 

$

19,533

 

 

$

340

 

 

$

 

 

$

20,918

 

Weighted-average period over which unrecognized

   compensation cost will be recognized:

 

1.6 years

 

 

2.1 years

 

 

1.5 years

 

 

 

 

 

 

 

 

 

Stock-Based Compensation Expense in Future for Outstanding Awards

The following presents expected stock-based compensation expense in future periods for outstanding awards as of December 31, 2016:

(add 000)

 

 

 

 

2017

 

$

11,492

 

2018

 

 

7,547

 

2019

 

 

1,879

 

Total

 

$

20,918