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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2018
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, 2018
 
 
 
 
 
 
 
 
 
 
 
 
8.625% Series A Cumulative Redeemable
 
2/12/1997
 
29

 
$
28,877

 
$
1,000

 
2/12/2027
 
$
86.25

December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
8.625% Series A Cumulative Redeemable
 
2/12/1997
 
29

 
$
28,892

 
$
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,
 
2018
 
2017
Outstanding stock options and warrants
611,518

 
655,822

Possible future issuance under equity incentive plans
2,188,696

 
2,404,131

 
2,800,214

 
3,059,953
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, 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
640,822

 
45.29

Exercised
(44,304
)
 
40.15

Stock options outstanding at December 31, 2018 (1) (2)
596,518

 
$
45.67

__________
(1)
The outstanding options at December 31, 2018 had a weighted average remaining life of 6.8 years.
(2)
The Company had 303,674 options exercisable at December 31, 2018 with a weighted average exercise price of $43.67, weighted average remaining life of 6.2 years and intrinsic value of $0.1 million. Of these exercisable options, 217,386 had exercise prices higher than the market price of our Common Stock at December 31, 2018.
Schedule of NonQualified Deferred Compensation Liability
The following table sets forth our deferred compensation liability:

 
Year Ended December 31,
 
2018
 
2017
 
2016
Beginning deferred compensation liability
$
2,388

 
$
2,451

 
$
2,736

Mark-to-market adjustment to deferred compensation (in general and administrative expenses)
(182
)
 
492

 
222

Distributions from deferred compensation plans
(357
)
 
(555
)
 
(507
)
Total deferred compensation liability
$
1,849

 
$
2,388

 
$
2,451
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 and 2016 were $6.72 and $4.61, respectively, per option. The fair values of the options granted were determined at the grant dates using the following assumptions:

 
2017
 
2016
Risk free interest rate (1) 
2.0
%
 
1.4
%
Common stock dividend yield (2) 
3.4
%
 
3.9
%
Expected volatility (3) 
19.5
%
 
19.7
%
Average expected option life (years) (4)
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, 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

Awarded and issued (1)
94,984

 
43.01

Vested (2)
(73,307
)
 
44.19

Forfeited
(2,684
)
 
45.89

Restricted shares outstanding at December 31, 2018
191,239

 
$
45.62

__________
(1)
The weighted average fair value at grant date of time-based restricted stock issued during the years ended December 31, 2018, 2017 and 2016 was $4.1 million, $3.2 million and $3.2 million, respectively.
(2)
The vesting date fair value of time-based restricted stock that vested during the years ended December 31, 2018, 2017 and 2016 was $3.2 million, $4.1 million and $3.7 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:
 
 
2018
 
2017
 
2016
Risk free interest rate (1) 
2.3
%
 
1.6
%
 
0.9
%
Common stock dividend yield (2) 
3.9
%
 
3.5
%
 
4.1
%
Expected volatility (3) 
41.1
%
 
42.8
%
 
43.1
%
__________
(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, 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

Awarded and issued (1)
77,456

 
40.81

Vested (2)
(41,160
)
 
45.61

Forfeited (4)
(16,926
)
 
45.24

Restricted shares outstanding at December 31, 2018
180,094

 
$
43.34

__________
(1)
The fair value at grant date of total return-based restricted stock issued during the years ended December 31, 2018, 2017 and 2016 was $3.2 million, $2.4 million and $2.4 million, respectively, at target.
(2)
The vesting date fair value of total return-based restricted stock that vested during the years ended December 31, 2018, 2017 and 2016 was $1.8 million, $5.6 million and $3.1 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 and 2016 amounts include 34,669 and 6,647 additional shares, respectively, that were issued at the end of the applicable measurement period because actual performance exceeded certain levels of performance.
(4)
Includes 13,707 shares that were forfeited at the end of the applicable measurement period because the applicable total return did not meet the target level.