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Treasury Stock and Share Based Awards (Tables)
 6 Months Ended
Jun. 30, 2016
Summary of Treasury Stock Activity

Below is a summary of the Company’s treasury stock activity for the six months ended June 30, 2016:

 

     Number of
Treasury
Shares		      Cost  

Balance at January 1, 2016

      4,183,504       $ 66,577   

Restricted stock withholdings (1)

      205,860         6,802   

Restricted stock forfeitures

      31,243         —     
  

 

 

     

 

 

  

Balance at June 30, 2016

      4,420,607       $ 73,379   
  

 

 

     

 

 

  

 

(1)  The Company withheld restricted shares as a result of the election by certain employees to satisfy their tax liabilities upon vesting in restricted stock and restricted stock units. The Company determined the number of shares to be withheld based upon market values ranging from $29.17 to $35.83 per share.
Summary of Restricted Stock Activity

Below is a summary of restricted stock activity for the six months ended June 30, 2016:

 

     Shares of
Restricted
Stock		      Weighted
Average
Grant Date
Fair Value		  

Outstanding at January 1, 2016

      757,775       $ 30.73   

Granted

      322,700       $ 30.90   

Vested

      (423,772 )     $ 26.46   

Forfeited

      (31,243 )     $ 33.02   
  

 

 

     

Outstanding at June 30, 2016

      625,460       $ 33.59   
  

 

 

     

Unvested restricted stock at June 30, 2016

      625,460       $ 33.59   
  

 

 

     
Number of Shares Vested Under Restricted Stock Unit Awards

Below is a table summarizing the potential number of shares that could vest under restricted stock unit awards granted during the six months ended June 30, 2016 at each of the three target levels of financial performance (excluding forfeiture assumptions):

 

     Number of
Shares
Vesting		      Value at
Grant		  

at IRR of at least 6.0%

      84,554       $ 2,522   

at IRR of at least 8.0%

      169,107       $ 5,044   

at IRR of at least 10.0%

      253,661       $ 7,568   
Restricted Stock Units (RSUs)  
Summary of Restricted Stock Unit Award Activity
     Six Months Ended June 30,  
     2016      2015  

Number of restricted stock unit awards that vested during the period

      213,984         123,769   

Fair value of restricted stock unit awards that vested during the period

    $ 7,260       $ 5,483   

Accumulated dividends paid upon vesting of restricted stock unit awards

    $ 662       $ 442   

Income tax benefit recognized upon vesting of restricted stock unit awards

    $ 3,049       $ 2,303   

Compensation expense recognized during the period

    $ 2,952       $ 1,739   
Restricted Stock  
Summary of Restricted Stock Award Activity
     Six Months Ended June 30,  
     2016      2015  

Compensation expense recognized during the period

    $ 4,708       $ 4,736   

Fair value of restricted shares that vested during the period

    $ 14,423       $ 14,308   

Income tax deduction upon vesting of restricted stock awards

    $ 5,454       $ 3,788