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Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Weighted Average Assumptions Relevant to Determining the Fair Value at the Dates of Grant

The weighted average assumptions relevant to determining the fair value at the dates of grant are below:

 

     2014     2013     2012  

Term

     6 years        6 years        6 years   

Risk free interest rate

     1.75     0.87     1.16

Dividend yield

     1.43     0.00     0.00

Expected volatility

     56.75     57.00     50.51

Expected forfeiture rate

     3.00     3.00     3.00
Reconciliation of Option Activity

The following table provides a reconciliation of option activity for the year ended December 31, 2014:

 

Options

   Shares
(000’s)
     Weighted-
Average
Exercise
Price
     Weighted-
Average
Remaining
Contractual
Term
     Aggregate
Intrinsic
Value
($000)
 

Outstanding at January 1, 2014

     1,233       $ 10.65         

Granted

     108       $ 19.93         

Exercised

     (158    $ 10.90         

Forfeited or expired

     (8    $ 12.62         
  

 

 

          

Outstanding at December 31, 2014

  1,175    $ 11.40      6.1    $ 10,752  (1) 
  

 

 

    

 

 

    

 

 

    

 

 

 

Exercisable at December 31, 2014

  815    $ 11.00      5.2    $ 7,786  (1) 
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1)  The intrinsic value is the amount by which the market price of our stock was greater than the exercise price of any individual option grant at December 31, 2014.