Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

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:

	Issue Date	Number of Shares Outstanding	Carrying Value		Liquidation Preference Per Share		Optional Redemption Date	Annual Dividends Payable Per Share
		(in thousands)
December 31, 2016
8.625% Series A Cumulative Redeemable	2/12/1997	29	$	28,920	$	1,000	2/12/2027	$	86.25
December 31, 2015
8.625% Series A Cumulative Redeemable	2/12/1997	29	$	29,050	$	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 plans:

	December 31,
	2016	2015
Outstanding stock options and warrants	602,115	702,228
Possible future issuance under equity incentive plans	2,718,296	3,084,158
	3,320,411	3,786,386

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
Balance 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
Balance at December 31, 2014	577,321		34.92
Options granted	197,408		45.61
Options canceled	(3,829	)	40.21
Options exercised	(83,672	)	34.89
Balance at December 31, 2015	687,228		37.97
Options granted	244,664		43.55
Options canceled	(14,743	)	42.64
Options exercised	(330,034	)	34.26
Balance at December 31, 2016 (1) (2)	587,115		$	42.26

__________

(1) The outstanding options at December 31, 2016 had a weighted average remaining life of 7.9 years.

(2) The Company had 74,080 options exercisable at December 31, 2016 with a weighted average exercise price of $40.28, weighted average remaining life of 6.6 years and intrinsic value of $0.8 million. Of these exercisable options, there were no exercise prices higher than the market price of our Common Stock at December 31, 2016.

Schedule of NonQualified Deferred Compensation Liability

The following table sets forth our deferred compensation liability:

	Year Ended December 31,
	2016			2015			2014
Beginning deferred compensation liability	$	2,736		$	3,635		$	3,996
Mark-to-market adjustment to deferred compensation (in general and administrative expenses)	222			(32		)	235
Distributions from deferred compensation plans	(507		)	(867		)	(596		)
Total deferred compensation liability	$	2,451		$	2,736		$	3,635

Stock Options [Member]

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

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

The weighted average fair values of options granted during 2016, 2015 and 2014 were $4.61, $6.19 and $6.75, respectively, per option. The fair values of the options granted were determined at the grant dates using the following assumptions:

	2016		2015		2014
Risk free interest rate (1)	1.4	%	1.7	%	1.8	%
Common stock dividend yield (2)	3.9	%	3.7	%	4.5	%
Expected volatility (3)	19.7	%	22.4	%	30.3	%
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, 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
Awarded and issued (1)	71,994		45.91
Vested (2)	(85,809	)	35.14
Forfeited	(3,533	)	39.94
Restricted shares outstanding at December 31, 2015	204,720		39.74
Awarded and issued (1)	72,698		43.59
Vested (2)	(84,212	)	37.76
Forfeited	(4,225	)	41.96
Restricted shares outstanding at December 31, 2016	188,981		$	42.06

__________

(1) The weighted average fair value at grant date of time-based restricted stock issued during the years ended December 31, 2016, 2015 and 2014 was $3.2 million, $3.3 million and $3.6 million, respectively.

(2) The vesting date fair value of time-based restricted stock that vested during the years ended December 31, 2016, 2015 and 2014 was $3.7 million, $3.9 million and $3.2 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:

	2016		2015		2014
Risk free interest rate (1)	0.9	%	1.0	%	0.7	%
Common stock dividend yield (2)	4.1	%	3.8	%	4.7	%
Expected volatility (3)	43.1	%	43.0	%	43.4	%

__________

(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, 2013	133,388		$	35.29
Awarded and issued (1)	74,569		35.58
Restricted shares outstanding at December 31, 2014	207,957		35.70
Awarded and issued (1) (3)	118,817		37.64
Vested (2) (3)	(129,762	)	31.97
Forfeited	(1,709	)	37.25
Restricted shares outstanding at December 31, 2015	195,303		36.66
Awarded and issued (1) (3)	64,701		40.87
Vested (2) (3)	(71,617	)	36.50
Forfeited	(4,663	)	39.91
Restricted shares outstanding at December 31, 2016	183,724		$	39.82

__________

(1) The fair value at grant date of total return-based restricted stock issued during the years ended December 31, 2016, 2015 and 2014 was $2.4 million, $2.5 million and $2.7 million, respectively, at target.

(2) The vesting date fair value of total return-based restricted stock that vested during the years ended December 31, 2016 and 2015 was $3.1 million and $5.9 million, respectively, based on the performance of the specific plans. 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.

(3) The 2016 and 2015 amounts include 6,647 and 61,860 additional shares, respectively, from the 2013 and 2012 plans, respectively, since the plans' payouts were in excess of the initial 100% target.