Stock-Based Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2016

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 nine month periods ending September 30, 2016 and 2015.



	Nine Months Ended
	September 30,		September 30,
	2016		2015
Expected dividend yield	0.9	%	0.9	%
Expected volatility	25.2	%	26.5	%
Risk-free rate	1.3	%	1.3	%
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 nine months ended September 30, 2016 and September 30, 2015 is presented below:



Stock Options	Common Shares		Weighted Average Strike Price		Remaining Contractual Term⁽¹⁾	Intrinsic Value ⁽²⁾ ($000)
Outstanding at January 1, 2016	1,551,734		$	41.32
Granted	562,166		41.04
Exercised	(184,366	)	37.43
Forfeited or canceled	(86,039	)	48.93
Outstanding at September 30, 2016	1,843,495		$	41.27	4.8	$	26,363
Exercisable at September 30, 2016	813,666		$	39.27	3.5	$	13,265



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	502,517		44.36
Exercised	(258,836	)	43.14
Forfeited or canceled	(277,150	)	53.64
Outstanding at September 30, 2015	1,601,321		$	41.34	4.7	$	19,738
Exercisable at September 30, 2015	715,101		$	37.52	3.2	$	11,376


(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 nine months ended September 30, 2016 and September 30, 2015 is presented below:



	Nine months ended September 30, 2016				Nine months ended September 30, 2015
Restricted Shares	Common Shares		Weighted Average Grant-Date Fair Value		Common Shares		Weighted Average Grant-Date Fair Value
Outstanding at January 1	137,593		$	49.63	146,112		$	47.45
Granted	15,764		44.72		15,657		45.81
Vested and issued	(10,041	)	43.78		(20,409	)	39.07
Forfeited or canceled	(598	)	44.26		(2,400	)	36.81
Outstanding at September 30	142,718		$	49.52	138,960		$	48.68
Vested, but not issuable at September 30	88,889		$	51.44	85,000		$	51.88

A summary of the Plans' performance-based stock award activity, based on the target level of the awards, for the nine months ended September 30, 2016 and September 30, 2015 is presented below:



	Nine months ended September 30, 2016				Nine months ended September 30, 2015
Performance-based Stock	Common Shares		Weighted Average Grant-Date Fair Value		Common Shares		Weighted Average Grant-Date Fair Value
Outstanding at January 1	276,533		$	43.01	295,679		$	38.18
Granted	118,072		41.02		106,017		44.35
Vested and issued	(78,410	)	37.90		(78,590	)	31.10
Forfeited	(13,229	)	41.12		(33,854	)	32.74
Outstanding at September 30	302,966		$	43.64	289,252		$	43.00
Vested, but deferred at September 30	6,660		$	37.93	—		$	—