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Equity and Cash Incentive Program (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2018
Dec. 31, 2017
Share Based Compensation Abstract    
Schedule of Stock-Based Compensation Expense

Stock-based compensation expense relating to all stock-based incentive plans was as follows:

 

     Three Months Ended
September 30,		      Nine Months Ended
September 30,		  
     2018      2017      2018      2017  

Stock-based compensation expense

    $ 1,768      $ 630      $ 3,129      $ 1,762  

Tax benefit

      (421 )       (219 )       (717 )       (611 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Stock-based compensation expense, net of tax

    $ 1,347      $ 411      $ 2,412      $ 1,151  
  

 

 

     

 

 

     

 

 

     

 

 

  

The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans:

 

     Years Ended December 31,  
     2017      2016      2015  

Pre-tax compensation expense

    $ 2,236      $ 2,293      $ 1,925  

Tax benefit

      (774 )       (787 )       (658 ) 
  

 

 

     

 

 

     

 

 

  

Total stock-based compensation expense, net of tax

    $ 1,462      $ 1,506      $ 1,267  
  

 

 

     

 

 

     

 

 

  
Schedule of Assumptions used for calculating fair value of SAR granted  

The fair value of each SAR granted was estimated on the date of grant using a Black-Scholes option-pricing model with the following assumptions:

 

     2017     2016     2015  

Risk-free interest rate

      1.80 %      1.05 %      1.51 % 

Dividend yield

      2.27 %      3.09 %      2.24 % 

Expected life (years)

      4.6       4.6       5.1  

Volatility

      21.90 %      26.17 %      27.19 % 

Grant price

    $ 79.28     $ 57.25     $ 73.28  

Fair value at date of grant

    $ 12.63     $ 9.25     $ 14.55  
Summary of activity relating to SARs granted  

A summary of activity relating to SARs granted under the Dover plans for the year ended December 31, 2017 is as follows:

 

     SARs  
     Number
of Shares		      Weighted
Average
Exercise
Price		      Weighted
Average
Remaining
Contractual
Term
(Years)		  

Outstanding at January 1, 2017

      454,683      $ 63.69     

Granted

      82,240        79.28     

Forfeited / expired

      (32,944 )       67.10     

Exercised

      (116,908 )       61.93     
  

 

 

        

Outstanding at December 31, 2017

      387,071        67.17        6.7  
  

 

 

        

Exercisable at December 31, 2017

      157,078      $ 64.30        4.6  
  

 

 

        
Summary of outstanding SARs  

The following table summarizes information about outstanding SARs at December 31, 2017:

 

      SARs Outstanding     SARs Exercisable  

Range of Exercise
Prices

     Number
of Shares		     Weighted
Average
Exercise
Price		     Weighted
Average
Remaining
Life
in Years		     Aggregate
Intrinsic
Value		     Number
of Shares		     Weighted
Average
Exercise
Price		     Weighted
Average
Remaining
Life
in Years		     Aggregate
Intrinsic
Value		  
$ 25.96 - $37.79       23,816     $ 37.79       2.1     $ 1,505       23,816     $ 37.79       2.1     $ 1,505  
$ 40.54 - $58.69       125,469     $ 57.52       6.7       5,454       38,309     $ 58.14       3.6       1,642  
$ 63.33 - $82.51       237,786     $ 75.21       7.2       6,130       94,953     $ 73.44       5.7       2,616  
 

 

 

        

 

 

    

 

 

        

 

 

  
    387,071         $ 13,089       157,078         $ 5,763  
 

 

 

        

 

 

    

 

 

        

 

 

  
Other information regarding exercise of SARs and stock options  

Other information regarding the exercise of SARs and stock options is listed below:

 

     2017      2016      2015  
SARs         

Fair value of SARs that became exercisable

    $ 1,239      $ 1,564      $ 1,356  

Aggregate intrinsic value of SARs exercised

    $ 2,787      $ 799      $ 1,874  
Stock Options         

Cash received by Dover for exercise of stock options

    $ —        $ —        $ 100  

Aggregate intrinsic value of options exercised

    $ —        $ —        $ 117  
Fair value used in determining compensation cost of Performance shares  

The fair value and average attainment used in determining compensation cost of the performance shares issued in 2017, 2016 and 2015 are as follows for the year ended December 31, 2017:

 

     Performance shares  
     2017     2016     2015  

Fair value per share at date of grant

    $ 79.28     $ 57.25     $ 73.28  

Average attainment rate reflected in expense

      0.0 %      0.0 %      0.0 % 
Summary of activity for performance share awards  

A summary of activity for performance share awards for the year ended December 31, 2017 is as follows:

 

     Number
of
Shares		      Weighted
Average
Grant-Date
Fair Value		  

Unvested at January 1, 2017

      10,267      $ 64.28  

Granted

      4,162        79.28  

Vested

      (4,503 )       73.28  
  

 

 

     

Unvested at December 31, 2017

      9,926      $ 66.49  
  

 

 

     
Summary of activity for restricted stock units  

A summary of activity for restricted stock units for the year ended December 31, 2017 is as follows:

 

     Number
of
Shares		      Weighted
Average
Grant-Date
Fair Value		  

Unvested at January 1, 2017

      54,064      $ 61.68  

Granted

      25,557        79.28  

Forfeited

      (8,854 )       64.07  

Vested

      (20,712 )       64.85  
  

 

 

     

Unvested at December 31, 2017

      50,055      $ 68.91