XML 71 R46.htm IDEA: XBRL DOCUMENT

Note 16 - Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

	Year Ended December 31,
	2016		2015		2014
	(Dollars in thousands, except per share data)
Cost of revenues	$	2,400	$	1,753	$	3,076
Selling and marketing expenses		247		123		261
General and administrative expenses		2,510		2,079		2,234
Total stock-based compensation expense		5,157		3,955		5,571
Tax effect on stock-based compensation expense		617		440		836
Net effect of stock-based compensation expense	$	4,540	$	3,515	$	4,735

	Year Ended December 31,
	2016			2015			2014
For stock options issued by the Company:
Risk-free interest rates		1.3	%		1.4	%		1.7	%
Expected lives (in years)		4.5			4.0			5.1
Dividend yield		1.1	%		0.7	%		0.9	%
Expected volatility		30.7	%		29.2	%		35.1	%
Forfeiture rate (weighted average)		8.4	%		0	%		0	%

	Year Ended December 31,
	2016					2015					2014
	Shares (in thousands)			Weighted Average Exercise Price		Shares (in thousands)			Weighted Average Exercise Price		Shares (in thousands)			Weighted Average Exercise Price
Outstanding at beginning of year		2,438		$	25.38		4,477		$	27.48		4,710		$	28.23
Granted, at fair value:
Stock Options		1,155			43.01		45			38.24		485			29.05
SARs*		—			—		—			—		—			—
Exercised		(967	)		25.33		(1,589	)		26.77		(243	)		24.10
Forfeited		(57	)		24.12		(125	)		27.33		(116	)		23.20
Expired		(4	)		26.84		(370	)		45.78		(359	)		42.70
Outstanding at end of year		2,565			33.36		2,438			25.38		4,477			27.48
Options and SARs exercisable at end of year		557			25.22		858			26.75		2,106			31.25
Weighted-average fair value of options and SARs granted during the year				$	11.61				$	8.68				$	9.00

		Options Outstanding						Options Exercisable
Exercise Price		Number of Stock-based Awards Outstanding		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value		Number of Stock-based Awards Exercisable		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
$	18.56		15		2.8	$	526		15		2.8	$	526
	19.69		15		2.6		509		15		2.6		509
	20.13		108		2.3		3,608		108		2.3		3,608
	20.54		53		2.3		1,761		28		2.3		934
	23.34		635		2.4		19,226		140		2.4		4,247
	24.57		9		2.1		269		1		2.1		33
	25.65		68		1.3		1,905		68		1.3		1,905
	26.70		15		3.8		404		15		3.8		404
	28.23		30		4.8		762		30		4.8		762
	29.52		400		3.6		9,640		75		3.6		1,807
	29.95		17		0.3		400		17		0.3		400
	35.15		15		6.1		277		-		-		-
	38.24		45		5.8		692		45		5.8		692
	42.87		1,080		5.5		11,610		-		-		-
	47.46		60		6.9		370		-		-		-


			2,565		4.1	$	51,959		557		2.7	$	15,827

		Options Outstanding						Options Exercisable
Exercise Price		Number of Stock-based Awards Outstanding		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value		Number of Stock-based Awards Exercisable		Weighted Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
$	18.56		15		3.8	$	269		15		3.8	$	269
	19.69		15		3.6		252		15		3.6		252
	20.13		326		3.3		5,327		69		3.3		1,135
	20.54		100		3.3		1,593		50		3.3		797
	23.34		938		3.4		12,315		126		3.4		1,655
	24.57		33		3.1		387		16		3.1		193
	25.65		135		2.3		1,462		135		2.3		1,462
	26.70		45		4.8		440		45		4.8		440
	26.84		64		0.2		618		64		0.2		618
	28.19		15		1.8		124		15		1.8		124
	28.23		45		5.8		371		45		5.8		371
	29.21		3		1.3		22		3		1.3		22
	29.52		400		4.6		2,780		-		-		-
	29.95		148		1.3		963		148		1.3		963
	34.13		96		0.3		225		96		0.3		225
	38.24		15		6.8		-		-		-		-
	38.50		15		0.8		-		15		0.8		-


			2,438		3.3	$	27,148		857		2.4	$	8,526

	Grant of options to purchase 300,000 shares of common stock			Grant of options to purchase 100,000 shares of common stock
Risk-free interest rates		2.36	%		1.64	%
Expected life (in years)		7.25			4.75
Dividend yield		0.90	%		0.90	%
Expected volatility		42.80	%		33.10	%