Stock-Based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2017

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 six month period ended June 30, 2016. No options were granted in the six month period ended June 30, 2017.



	Six Months Ended
	June 30,
	2016
Expected dividend yield	0.9	%
Expected volatility	25.2	%
Risk-free rate	1.3	%
Expected option life (in years)	4.5

Summary Of Stock Option Activity

A summary of the Company's stock option activity for the six months ended June 30, 2017 and June 30, 2016 is presented below:



Stock Options	Common Shares		Weighted Average Strike Price		Remaining Contractual Term⁽¹⁾	Intrinsic Value ⁽²⁾ ($000)
Outstanding at January 1, 2017	1,698,912		$	41.50
Granted	—		—
Exercised	(374,046	)	40.28
Forfeited or canceled	(8,173	)	42.49
Outstanding at June 30, 2017	1,316,693		$	41.84	4.4	$	45,561
Exercisable at June 30, 2017	765,711		$	41.56	3.7	$	26,707


(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.



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	558,411		40.96
Exercised	(99,760	)	37.56
Forfeited or canceled	(84,750	)	49.03
Outstanding at June 30, 2016	1,925,635		$	41.07	4.9	$	19,159
Exercisable at June 30, 2016	896,155		$	39.08	3.6	$	10,695


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

(2)

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

A summary of the Plans' restricted share activity for the six months ended June 30, 2017 and June 30, 2016 is presented below:



	Six months ended June 30, 2017				Six months ended June 30, 2016
Restricted Shares	Common Shares		Weighted Average Grant-Date Fair Value		Common Shares		Weighted Average Grant-Date Fair Value
Outstanding at January 1	133,425		$	49.94	137,593		$	49.63
Granted	13,385		72.36		14,546		43.95
Vested and issued	(10,104	)	45.55		(8,523	)	44.10
Forfeited or canceled	—		—		(504	)	44.26
Outstanding at June 30	136,706		$	52.46	143,112		$	49.40
Vested, but not issuable at June 30	89,391		$	51.55	88,696		$	51.43

A summary of the Plans' performance-based stock award activity, based on the target level of the awards, for the six months ended June 30, 2017 and June 30, 2016 is presented below:



	Six months ended June 30, 2017				Six months ended June 30, 2016
Performance-based Stock	Common Shares		Weighted Average Grant-Date Fair Value		Common Shares		Weighted Average Grant-Date Fair Value
Outstanding at January 1	298,180		$	43.64	276,533		$	43.01
Granted	143,439		72.55		117,409		40.95
Vested and issued	(68,712	)	46.85		(78,410	)	37.90
Forfeited	(8,438	)	49.47		(13,064	)	41.13
Outstanding at June 30	364,469		$	54.28	302,468		$	43.62
Vested, but deferred at June 30	13,590		$	42.60	6,646		$	37.89