Share-based Compensation (Tables)

6 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement [Abstract]

Fair Value Assumptions

The following table summarizes the assumptions we used for the six months ended June 30, 2019 and 2018:

	For the Six Months Ended June 30,
	2019	2018
Risk-free rate of return	1.88%	2.73%
Expected dividend yields	1.76%	1.87%
Expected award life (years)	4.50	4.49
Expected volatility	18.37%	18.13%

Summary of Restricted Share Activity

A summary of restricted share activity as of June 30, 2019 and changes during the six months then ended is as follows:

	Shares		Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2019	897,005		$	46.82
Granted	200,785		$	68.69
Vested and issued	(399,882	)	$	35.86
Expired or forfeited	(53,116	)	$	55.04
Outstanding at June 30, 2019	644,792		$	59.77

Stock Settled Share Appreciation Rights

A summary of stock-settled SARs activity as of June 30, 2019 and changes during the six months then ended is as follows:

	Shares		Weighted-Average Exercise Price
Outstanding at January 1, 2019	810,759		$	33.89
Exercised	(97,644	)	$	36.70
Expired or forfeited	(7,167	)	$	37.85
Outstanding at June 30, 2019	705,948		$	33.46

Summary of Cash-Settled SARs Activity

A summary of cash-settled SARs activity as of June 30, 2019 and changes during the six months then ended is as follows:

	Shares		Weighted-Average Exercise Price
Outstanding at January 1, 2019	58,428		$	30.71
Exercised	(37,330	)	$	29.53
Expired or forfeited	(1,193	)	$	19.37
Outstanding at June 30, 2019	19,905		$	33.59