Share-based Compensation (Tables)

9 Months Ended

Sep. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Fair Value Assumptions

The following table summarizes the assumptions we used for the nine months ended September 30, 2018 and 2017:

	For the Nine Months Ended September 30,
	2018	2017
Risk-free rate of return	2.96%	1.85%
Expected dividend yields	1.84%	1.71%
Expected award life (years)	4.49	4.48
Expected volatility	17.82%	18.13%

Summary of Restricted Share Activity

A summary of restricted share activity as of September 30, 2018 and changes during the nine months ended is as follows:

	Shares		Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2018	767,140		$	42.91
Granted	339,515		$	48.54
Vested and issued	(202,809	)	$	43.18
Expired or forfeited	(87,435	)	$	45.00
Outstanding at September 30, 2018	816,411		$	44.96

Stock Settled Share Appreciation Rights

A summary of stock-settled SARs activity as of September 30, 2018 and changes during the nine months ended is as follows:

	Shares		Weighted-Average Exercise Price
Outstanding at January 1, 2018	1,494,458		$	30.85
Exercised	(540,233	)	$	26.64
Expired or forfeited	(16,204	)	$	36.38
Outstanding at September 30, 2018	938,021		$	33.17

Summary of Cash-Settled SARs Activity

A summary of cash-settled SARs activity as of September 30, 2018 and changes during the nine months ended is as follows:

	Shares		Weighted-Average Exercise Price
Outstanding at January 1, 2018	189,568		$	28.95
Exercised	(87,665	)	$	27.88
Expired or forfeited	(2,568	)	$	21.23
Outstanding at September 30, 2018	99,335		$	30.10