XML 54 R37.htm IDEA: XBRL DOCUMENT v3.20.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of portion of nonvested common shares earned based upon achievement of compounded annual book value per share growth
The portion of the nonvested performance-based share awards that will be earned based upon the achievement of compounded annual book value per share growth is as follows:
2017 Performance-Based Grants2016 Performance-Based Grants2013, 2014 and 2015 Performance-Based Grants
Performance
level		Compounded
Annual Book
Value Per Share
Growth		Nonvested
Common
Shares
Earned		Compounded
Annual Book
Value Per Share
Growth		Nonvested
Common
Shares
Earned		Compounded
Annual Book
Value Per Share
Growth		Nonvested
Common
Shares
Earned
 <16 %0 %<13 %0 %<11 %0 %
Threshold16 %25 %13 %25 %11 %10 %
 17 %50 %14 %50 %12 %36 %
 18 %75 %15 %75 %13 %61 %
14 %87 %
Maximum≥19 %100 %≥16 %100 %≥15 %100 %
2020 Performance-Based Grants2019 Performance-Based Grants2018 Performance-Based Grants
Performance
level		Compounded
Annual Book
Value Per Share
Growth		Nonvested
Common
Shares
Earned		Compounded
Annual Book
Value Per Share
Growth		Nonvested
Common
Shares
Earned		Compounded
Annual Book
Value Per Share
Growth		Nonvested
Common
Shares
Earned
 <13 %0 %<14 %0 %<15 %0 %
Threshold13 %10 %14 %10 %15 %25 %
 14 %35 %15 %35 %16 %50 %
 15 %60 %16 %60 %17 %75 %
16 %85 %17 %85 %
Maximum≥17 %100 %≥18 %100 %≥18 %100 %
Summary of nonvested common share and nonvested common share unit activity
The following tables summarize nonvested common share, nonvested common share unit and DEU activity for the year ended December 31:
 2020
 Time and Performance-
Based Share Awards		Time-Based
Share Awards		Share UnitsDEUs
(Shares in thousands)Number of
Shares		Weighted
Average
Grant Date
Fair Value		Number of
Shares		Weighted
Average
Grant Date
Fair Value		Number of
Share Units		Weighted
Average
Grant Date
Fair Value		Dividend Equivalent UnitsWeighted
Average
Grant Date
Fair Value
Outstanding at beginning of year394 $42.02 169 $41.31 351 $39.78 5 $51.11 
Granted109 51.52 69 51.52 350 48.75 19 35.42 
Vested(140)36.29 (85)40.47 (192)37.76 (3)49.79 
Forfeited— N/A— N/A(17)50.04 — 33.86 
Outstanding at end of year363 $47.09 153 $46.34 492 $46.59 21 $37.66 
 2019
 Time and Performance-
Based Share Awards		Time-Based
Share Awards		Share UnitsDEUs
(Shares in thousands)Number of
Shares		Weighted
Average
Grant Date
Fair Value		Number of
Shares		Weighted
Average
Grant Date
Fair Value		Number of
Share Units		Weighted
Average
Grant Date
Fair Value		Dividend Equivalent UnitsWeighted
Average
Grant Date
Fair Value
Outstanding at beginning of year482 $29.49 207 $32.82 449 $34.35 — N/A
Granted141 45.32 90 40.98 143 42.08 5 $51.09 
Vested(229)17.69 (128)27.37 (232)30.85 — 48.63 
Forfeited— N/A— N/A(9)35.53 — 49.27 
Outstanding at end of year394 $42.02 169 $41.31 351 $39.78 5 $51.11 
 2018
 Time and Performance-
Based Share Awards		Time-Based
Share Awards		Share Units
(Shares in thousands)Number of
Shares		Weighted
Average
Grant Date
Fair Value		Number of
Shares		Weighted
Average
Grant Date
Fair Value		Number of
Share Units		Weighted
Average
Grant Date
Fair Value
Outstanding at beginning of year1,595 $17.03 410 $21.12 536 $29.13 
Granted113 45.02 73 45.02 161 42.19 
Vested(1,226)14.71 (276)18.67 (238)28.02 
Forfeited— N/A— N/A(10)31.59 
Outstanding at end of year482 $29.49 207 $32.82 449 $34.35 
Schedule of compensation expense, net of forfeitures, and related tax effects recognized in connection with nonvested shares
Compensation expense, net of forfeitures, and related tax effects recognized in connection with nonvested shares and share units were as follows for the years ended December 31:
(In thousands)202020192018
Compensation expense$18,462 $16,588 $15,073 
Income tax benefit3,511 3,125 2,805