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Share-Based Compensation Plan (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of service condition restricted share activity
The following table provides a summary of service condition restricted share activity as of December 31, 2014:
 
 
Shares
 
Weighted-Average
Grant Date
Fair Value
Unvested at January 1, 2012
128,664

 
$
21.59

Granted
52,545

 
$
23.15

Vested
(52,587
)
 
$
21.43

Forfeited
—

 
$
—

Unvested at December 31, 2012
128,622

 
$
22.19

Granted
84,451

 
$
26.07

Vested
(65,192
)
 
$
21.96

Forfeited
—

 
$
—

Unvested at December 31, 2013
147,881

 
$
24.59

Granted
44,322

 
$
30.11

Vested
(62,047
)
 
$
23.12

Forfeited
(168
)
 
$
27.57

Unvested at December 31, 2014
129,988

 
$
27.17
Performance-based Equity Awards Methodology and Assumptions
The grant date fair value of the performance awards were determined using a Monte Carlo simulation method with the following assumptions:
Performance Award Grant Date
 
Percentage of Total Award
 
Grant Date Fair Value by Component ($ in millions)
 
Volatility
 
Interest Rate
 
Dividend Yield
February 8, 2012
 
 
 
 
 
 
 
 
 
 
 
Relative Total Shareholder Return(1)
 
30.00%
 
$0.7
 
33.00%
 
0.34%
 
2.20%
 
Absolute Total Shareholder Return (1)
 
30.00%
 
$0.6
 
33.00%
 
0.34%
 
2.20%
 
EBITDA Comparison (2)
 
40.00%
 
$0.7
 
33.00%
 
0.34%
 
2.20%
 
 
 
 
 
 
 
 
 
 
 
 
January 30, 2013
 
 
 
 
 
 
 
 
 
 
 
Relative Total Shareholder Return (1) 
 
30.00%
 
$0.7
 
31.00%
 
0.41%
 
2.20%
 
Absolute Total Shareholder Return (1)
 
30.00%
 
$0.5
 
31.00%
 
0.41%
 
2.20%
 
EBITDA Comparison (2)
 
40.00%
 
$0.7
 
31.00%
 
0.41%
 
2.20%
 
 
 
 
 
 
 
 
 
 
 
 
December 13, 2013
 
 
 
 
 
 
 
 
 
 
 
Relative Total Shareholder Return (1)
 
50.00%
 
$4.7
 
29.00%
 
0.34% - 2.25%
 
2.40%
 
Absolute Total Shareholder Return (1)
 
50.00%
 
$2.9
 
29.00%
 
0.34% - 2.25%
 
2.40%
 
 
 
 
 
 
 
 
 
 
 
 
February 4, 2014
 
 
 
 
 
 
 
 
 
 
 
Relative Total Shareholder Return (1) 
 
30.00%
 
$0.7
 
29.00%
 
0.62%
 
2.40%
 
Absolute Total Shareholder Return (1)
 
30.00%
 
$0.5
 
29.00%
 
0.62%
 
2.40%
 
EBITDA Comparison (2)
 
40.00%
 
$0.8
 
29.00%
 
0.62%
 
2.40%
 
 
 
 
 
 
 
 
 
 
 
 
(1) The Relative Total Shareholder Return and Absolute Total Shareholder Return components are market conditions as defined by ASC 718.
(2) The EBITDA Comparison component is a performance condition as defined by ASC 718, and therefore, compensation expense related to this component will be reassessed at each reporting date to determine whether achievement of the target performance condition is probable, and the accrual of compensation expense will be adjusted as appropriate.