Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Stock by Class

The following table sets forth the Company's Preferred Stock:

Preferred Stock Issuances	Issue Date	Number of Shares Outstanding	Carrying Value		Liquidation Preference Per Share		Optional Redemption Date	Annual Dividends Payable Per Share
		(in thousands)
December 31, 2014
8.625% Series A Cumulative Redeemable	2/12/1997	29	$	29,060	$	1,000	2/12/2027	$	86.25
December 31, 2013
8.625% Series A Cumulative Redeemable	2/12/1997	29	$	29,077	$	1,000	2/12/2027	$	86.25

The following table sets forth the number of shares of Common Stock reserved for future issuance under the Company's long-term equity incentive plan:

	December 31,
	2014	2013
Outstanding stock options and warrants	592,321	889,382
Possible future issuance under equity incentive plans	1,382,406	1,742,237
	1,974,727	2,631,619

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following table sets forth stock option activity:

	Options Outstanding
	Number of Options		Weighted Average Exercise Price
Balances at December 31, 2011	1,209,455		$	29.08
Options granted	190,886		31.97
Options exercised	(271,032	)	26.87
Balances at December 31, 2012	1,129,309		30.10
Options granted	168,700		36.50
Options exercised	(423,627	)	28.22
Balances at December 31, 2013	874,382		32.24
Options granted	190,330		37.90
Options canceled	(134,628	)	41.93
Options exercised	(352,763	)	27.21
Balances at December 31, 2014 (1) (2)	577,321		$	34.92

__________

(1) The outstanding options at December 31, 2014 had a weighted average remaining life of 5.8 years.

(2) The Company had 128,364 options exercisable at December 31, 2014 with a weighted average exercise price of $31.44, weighted average remaining life of 3.1 years and intrinsic value of $1.6 million. Of these exercisable options, there were no exercise prices higher than the market price of our Common Stock at December 31, 2014.

Schedule of NonQualified Deferred Compensation Liability

The following table sets forth our deferred compensation liability:

	Year Ended December 31,
	2014			2013			2012
Beginning deferred compensation liability	$	3,996		$	3,354		$	3,149
Mark-to-market adjustment to deferred compensation (in general and administrative expenses)	235			803			475
Distributions from deferred compensation plans	(596		)	(161		)	(270		)
Total deferred compensation liability	$	3,635		$	3,996		$	3,354

Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

Stock options issued prior to 2005 and in 2014 vest ratably on an annual basis over four years and expire after 10 years. Stock options issued from 2005 through 2013 vest ratably on an annual basis over four years and expire after seven years. The value of all options as of the date of grant is calculated using the Black-Scholes option-pricing model and is amortized over the respective vesting period or the service period, if shorter, for employees who are or will become eligible under the Company's retirement plan. The weighted average fair values of options granted during 2014, 2013 and 2012 were $6.75, $6.50 and $5.47, respectively, per option. The fair values of the options granted were determined at the grant dates using the following assumptions:

	2014		2013		2012
Risk free interest rate (1)	1.8	%	1.0	%	1.1	%
Common stock dividend yield (2)	4.5	%	4.7	%	5.3	%
Expected volatility (3)	30.3	%	32.4	%	33.4	%
Average expected option life (years) (4)	5.75		5.75		5.75

__________

(1) Represents the interest rate as of the grant date on US treasury bonds having the same life as the estimated life of the option grants.

(2) The dividend yield is calculated utilizing the dividends paid for the previous one-year period and the per share price of Common Stock on the date of grant.

(3) Based on the historical volatility of Common Stock over a period relevant to the related stock option grant.

(4) The average expected option life is based on an analysis of the Company's historical data.

Time-Based Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

The following table sets forth time-based restricted stock activity:

	Number of Shares		Weighted Average Grant Date Fair Value
Restricted shares outstanding at December 31, 2011	224,661		$	28.02
Awarded and issued (1)	90,983		32.27
Vested (2)	(92,239	)	27.14
Forfeited	(903	)	30.12
Restricted shares outstanding at December 31, 2012	222,502		30.31
Awarded and issued (1)	86,144		36.64
Vested (2)	(94,037	)	27.80
Forfeited	(1,813	)	36.01
Restricted shares outstanding at December 31, 2013	212,796		33.96
Awarded and issued (1)	94,932		37.76
Vested (2)	(85,660	)	32.87
Restricted shares outstanding at December 31, 2014	222,068		$	35.97

__________

(1) The weighted average fair value at grant date of time-based restricted stock issued during the years ended December 31, 2014, 2013 and 2012 was $3.6 million, $3.2 million and $2.9 million, respectively.

(2) The vesting date fair value of time-based restricted stock that vested during the years ended December 31, 2014, 2013 and 2012 was $3.2 million, $3.4 million and $2.9 million, respectively. Vested shares include those shares surrendered by employees to satisfy tax withholding obligations in connection with such vesting.

Total Return-Based Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair values of the total return-based restricted stock granted were determined at the grant dates using a Monte Carlo simulation model and the following assumptions:

	2014		2013		2012
Risk free interest rate (1)	0.7	%	0.4	%	0.4	%
Common stock dividend yield (2)	4.7	%	4.9	%	5.4	%
Expected volatility (3)	43.4	%	43.4	%	43.7	%

__________

(1) Represents the interest rate as of the grant date on US treasury bonds having the same life as the estimated life of the total return-based restricted stock grants.

(2) The dividend yield is calculated utilizing the dividends paid for the previous one-year period and the average per share price of Common Stock during the three-month period preceding the date of grant.

(3) Based on the historical volatility of Common Stock over a period relevant to the related total return-based restricted stock grant.

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

The following table sets forth total return-based restricted stock activity:

	Number of Shares		Weighted Average Grant Date Fair Value
Restricted shares outstanding at December 31, 2011	122,829		$	34.86
Awarded and issued (1)	67,902		38.71
Vested (2)	(32,722	)	29.47
Forfeited	(32,721	)	29.47
Restricted shares outstanding at December 31, 2012	125,288		32.87
Awarded and issued (1)	65,486		31.73
Vested (2)	(41,863	)	24.75
Forfeited	(15,523	)	24.75
Restricted shares outstanding at December 31, 2013	133,388		35.29
Awarded and issued (1)	74,569		35.58
Restricted shares outstanding at December 31, 2014	207,957		$	35.70

__________

(1) The fair value at grant date of total return-based restricted stock issued during the years ended December 31, 2014, 2013 and 2012 was $2.7 million, $2.1 million and $2.6 million, respectively.

(2) The vesting date fair value of total return-based restricted stock that vested during the years ended December 31, 2013 and 2012 was $1.5 million and $1.1 million, respectively. Vested shares include those shares surrendered by employees to satisfy tax withholding obligations in connection with such vesting. There were no vested shares of total return-based restricted stock during the year ended December 31, 2014.