Stock-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2015

Weighted Average Assumptions Used To Determine The Options Fair Value

The following table presents the weighted average assumptions used to determine the fair value of options granted in the three month periods ending March 31, 2015 and 2014.



	Three Months Ended
	March 31,		March 31,
	2015		2014
Expected dividend yield	0.9	%	0.4	%
Expected volatility	26.5	%	30.8	%
Risk-free rate	1.3	%	0.7	%
Expected option life (in years)	4.5		4.5

Summary Of Stock Option Activity

A summary of the Company's stock option activity for the three months ended March 31, 2015 and March 31, 2014 is presented below:



Stock Options	Common Shares		Weighted Average Strike Price		Remaining Contractual Term⁽¹⁾	Intrinsic Value ⁽²⁾ ($000)
Outstanding at January 1, 2015	1,618,426		$	43.00
Conversion of options of acquired company	16,364		21.18
Granted	487,259		44.11
Exercised	(51,522	)	31.50
Forfeited or canceled	(175,579	)	54.40
Outstanding at March 31, 2015	1,894,948		$	42.35	4.6	$	11,649
Exercisable at March 31, 2015	1,158,991		$	41.00	3.3	$	9,291



Stock Options	Common Shares		Weighted Average Strike Price		Remaining Contractual Term ⁽¹⁾	Intrinsic Value ⁽²⁾ ($000)
Outstanding at January 1, 2014	1,524,672		$	42.00
Granted	358,440		46.86
Exercised	(77,311	)	34.79
Forfeited or canceled	(18,898	)	45.56
Outstanding at March 31, 2014	1,786,903		$	43.25	3.7	$	12,834
Exercisable at March 31, 2014	1,166,309		$	43.96	2.4	$	8,655


(1)	Represents the remaining weighted average contractual life in years.

(2)

Aggregate intrinsic value represents the total pre-tax intrinsic value (i.e., the difference between the Company's stock price on the last trading day of the quarter and the option exercise price, multiplied by the number of shares) that would have been received by the option holders if they had exercised their options on the last day of the quarter. Options with exercise prices above the stock price on the last trading day of the quarter are excluded from the calculation of intrinsic value. The intrinsic value will change based on the fair market value of the Company's stock.

Summary Of Plans' Restricted Share And Performance-Vested Stock Award Activity

A summary of the Plans' restricted share activity for the three months ended March 31, 2015 and March 31, 2014 is presented below:



	Three months ended March 31, 2015				Three months ended March 31, 2014
Restricted Shares	Common Shares		Weighted Average Grant-Date Fair Value		Common Shares		Weighted Average Grant-Date Fair Value
Outstanding at January 1	146,112		$	47.45	181,522		$	43.39
Granted	12,300		44.11		2,775		46.86
Vested and issued	(4,925	)	36.74		(24,900	)	33.81
Forfeited	—		—		(451	)	44.29
Outstanding at March 31	153,487		$	47.53	158,946		$	44.95
Vested, but not issuable at March 31	85,000		$	51.88	85,000		$	51.88

A summary of the 2007 Plan's performance-based stock award activity, based on the target level of the awards, for the three months ended March 31, 2015 and March 31, 2014 is presented below:



	Three months ended March 31, 2015				Three months ended March 31, 2014
Performance-based Stock	Common Shares		Weighted Average Grant-Date Fair Value		Common Shares		Weighted Average Grant-Date Fair Value
Outstanding at January 1	295,679		$	38.18	307,512		$	34.01
Granted	102,828		44.11		91,501		46.86
Vested and issued	(78,590	)	31.10		(15,944	)	33.25
Forfeited	(29,926	)	31.41		(81,551	)	33.38
Outstanding at March 31	289,991		$	42.90	301,518		$	38.12