Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2017

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, 2017
8.625% Series A Cumulative Redeemable	2/12/1997	29	$	28,892	$	1,000	2/12/2027	$	86.25
December 31, 2016
8.625% Series A Cumulative Redeemable	2/12/1997	29	$	28,920	$	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,
	2017	2016
Outstanding stock options and warrants	655,822	602,115
Possible future issuance under equity incentive plans	2,404,131	2,718,296
	3,059,953	3,320,411

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
Stock options outstanding at December 31, 2014	577,321		$	34.92
Granted	197,408		45.61
Canceled	(3,829	)	40.21
Exercised	(83,672	)	34.89
Stock options outstanding at December 31, 2015	687,228		37.97
Granted	244,664		43.55
Canceled	(14,743	)	42.64
Exercised	(330,034	)	34.26
Stock options outstanding at December 31, 2016	587,115		42.26
Granted	168,748		52.49
Exercised	(115,041	)	40.41
Stock options outstanding at December 31, 2017 (1) (2)	640,822		$	45.29

__________

(1) The outstanding options at December 31, 2017 had a weighted average remaining life of 7.7 years.

(2) The Company had 152,745 options exercisable at December 31, 2017 with a weighted average exercise price of $41.39, weighted average remaining life of 6.4 years and intrinsic value of $1.5 million. Of these exercisable options, there were no exercise prices higher than the market price of our Common Stock at December 31, 2017.

Schedule of NonQualified Deferred Compensation Liability

The following table sets forth our deferred compensation liability:

	Year Ended December 31,
	2017			2016			2015
Beginning deferred compensation liability	$	2,451		$	2,736		$	3,635
Mark-to-market adjustment to deferred compensation (in general and administrative expenses)	492			222			(32		)
Distributions from deferred compensation plans	(555		)	(507		)	(867		)
Total deferred compensation liability	$	2,388		$	2,451		$	2,736

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 2017, 2016 and 2015 were $6.72, $4.61 and $6.19, respectively, per option. The fair values of the options granted were determined at the grant dates using the following assumptions:

	2017		2016		2015
Risk free interest rate (1)	2.0	%	1.4	%	1.7	%
Common stock dividend yield (2)	3.4	%	3.9	%	3.7	%
Expected volatility (3)	19.5	%	19.7	%	22.4	%
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 then current regular dividend rate for a 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, 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
Awarded and issued (1)	61,404		52.49
Vested (2)	(78,139	)	40.55
Restricted shares outstanding at December 31, 2017	172,246		$	46.46

__________

(1) The weighted average fair value at grant date of time-based restricted stock issued during the years ended December 31, 2017, 2016 and 2015 was $3.2 million, $3.2 million and $3.3 million, respectively.

(2) The vesting date fair value of time-based restricted stock that vested during the years ended December 31, 2017, 2016 and 2015 was $4.1 million, $3.7 million and $3.9 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:

	2017		2016		2015
Risk free interest rate (1)	1.6	%	0.9	%	1.0	%
Common stock dividend yield (2)	3.5	%	4.1	%	3.8	%
Expected volatility (3)	42.8	%	43.1	%	43.0	%

__________

(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 then current regular dividend rate for a 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, 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
Awarded and issued (1) (3)	84,013		44.76
Vested (2) (3)	(107,013	)	37.88
Restricted shares outstanding at December 31, 2017	160,724		$	44.72

__________

(1) The fair value at grant date of total return-based restricted stock issued during the years ended December 31, 2017, 2016 and 2015 was $2.4 million, $2.4 million and $2.5 million, respectively, at target.

(2) The vesting date fair value of total return-based restricted stock that vested during the years ended December 31, 2017, 2016 and 2015 was $5.6 million, $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.

(3) The 2017, 2016 and 2015 amounts include 34,669, 6,647 and 61,860 additional shares, respectively, that were issued at the end of the applicable measurement period because actual performance exceeded certain levels of performance.