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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity
The following table summarizes the Company’s stock option activity and related information for the 2011 Plan, the 2000 Plan and the Directors Plan for the three months ended months ended March 31, 2017:
 
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual Life
 
Aggregate
Intrinsic value
(in thousands)
Outstanding at December 31, 2016
1,098,823

 
$
35.39

 
4.3
 
$
52,332

Granted
64,507

 
87.05

 
 
 
(584
)
Exercised
(47,567
)
 
26.46

 
 
 
2,452

Canceled
(471
)
 
83.14

 
 
 
(2
)
Outstanding at March 31, 2017
1,115,292

 
38.74

 
4.4
 
43,783

Exercisable at March 31, 2017
923,878

 
30.90

 
3.7
 
43,513
Share-Based Fair Value of Each Option Grant Weighted-Average Assumptions
The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:
 
Three Months Ended
March 31,
 
2017
 
2016
Dividend yield
0.23
%
 
0.26
%
Risk-free interest rate
2.17
%
 
1.47
%
Stock price volatility
23.4
%
 
26.9
%
Expected life (years)
5.0

 
5.0
Restricted Stock Activity and Incentive Stock Awards Activity
The following table summarizes the restricted stock activity and related information for the 2011 Plan, the 2000 Plan and the Directors Plan, and incentive stock units activity for the 2011 Plan and the 2000 Plan with related information for the three months ended March 31, 2017:
 
Restricted
Stock
and Units
 
Incentive
Stock
Awards
 
Weighted
Average Grant
Date Fair
Value
Outstanding at December 31, 2016
396,295

 
424,750

 
$
72.18

Granted
128,985

 
155,575

 
87.02

Vested
(112,504
)
 
(153,271
)
 
69.38

Adjustment for incentive stock awards expected to vest
—

 
(2,558
)
 
72.79

Canceled
(4,103
)
 
(2,458
)
 
77.20

Outstanding at March 31, 2017
408,673

 
422,038