EQUITY COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2015

EQUITY COMPENSATION

Schedule of compensation expense and tax benefits for stock-based awards and programs

        We recognized the following amounts in compensation expense and tax benefits for all of our stock-based awards and programs for the applicable years ended December 31 (in thousands):

	2015		2014		2013
Compensation expense	$	4,279	$	3,688	$	2,577
Tax benefit recognized		1,576		1,359		929

Schedule of fair value measurements for each grant year

	Fair Value of Grants Outstanding at December 31
	2015	2014
Total unrecognized compensation cost (in millions)	$0.4	$0.4
Recognition period	0.1 years to 2.1 years	1.1 years to 2.1 years
Fair value	$25.17	$26.82

Schedule of time vested restricted stock activity

	2015					2014					2013
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value		Number Of Shares		Weighted Average Grant Date Fair Value
Outstanding at January 1,		41,000		$	21.89		24,900		$	21.42		3,300	$	21.84
Granted		19,000		$	30.40		22,600		$	22.40		21,600	$	21.36
Distributed		(1,654	)	$	21.92		(4,010	)	$	21.77		—		—
Forfeited		(2,746	)	$	25.91		(2,490	)	$	21.99		—		—
Outstanding at December 31,		55,600		$	24.60		41,000		$	21.89		24,900	$	21.42

Schedule of assumptions used in valuation of performance-based restricted stock awards

	Fair Value of Grants Outstanding at December 31,
	2015	2014	2013
Risk-free interest rate	0.65% to 1.06%	0.25% to 0.67%	0.13% to 0.38%
Expected volatility of Empire stock	18.7%	14.5%	20.2%
Expected volatility of peer group stock	14.5% to 34.4%	12.4% to 24.8%	12.3% to 27.5%
Expected dividend yield on Empire stock	3.7%	3.5%	4.5%
Expected forfeiture rates	3%	3%	3%
Plan cycle	3 years	3 years	3 years
Fair value percentage	115.0% to 182.0%	140.0% to 157.0%	0.0% to 108.0%
Weighted average fair value per share	$41.73	$43.80	$18.47

Schedule of non-vested performance-based restricted stock awards (based on target number) and changes during the reporting period

	2015					2014					2013
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value		Number Of Shares			Weighted Average Grant Date Fair Value
Outstanding at January 1,		63,300		$	21.74		47,200		$	21.39		33,900		$	20.25
Target shares granted		21,800		$	30.40		27,000		$	22.40		26,300		$	21.36
Shares issued in excess of target		3,653		$	20.97		—			—		—			—
Shares awarded		(13,653	)	$	20.97		—			—		(4,460	)	$	18.36
Forfeited shares		(6,079	)	$	24.10		—			—		—
Target shares not awarded		—			—		(10,900	)	$	21.84		(8,540	)	$	18.36
Nonvested at December 31,		69,021		$	24.38		63,300		$	21.74		47,200		$	21.39

Schedule of assumptions used in the valuations of stock options

	Fair Value of Grants Outstanding at December 31, 2013
Risk-free interest rate	0.10% to 0.38%
Dividend yield	4.5%
Expected volatility	24.0%
Expected life in months	6.5 to 24.5
Market value	$22.69
Weighted average fair value per option	$1.57

Schedule of stock options activity

	2014				2013
	Options		Weighted Average Exercise Price		Options			Weighted Average Exercise Price
Outstanding at January 1,		112,500	$	23.27		163,300		$	22.13
Granted		—		—				$	—
Exercised		112,500	$	24.58		(50,800	)	$	21.78
Outstanding at December 31,		—				112,500		$	23.27
Exercisable, end of year		—				112,500		$	23.27

Schedule of aggregate intrinsic values of stock options

	2013
Aggregate intrinsic value (in millions)	Less than $0.1
Weighted-average remaining contractual life of outstanding options	2.1 years
Range of exercise prices	$21.92 to $23.81
Total unrecognized compensation expense (in millions) related to non-vested options and related dividend equivalents granted under the plan	—
Recognition period	—

Schedule of shares accrued to directors' accounts and shares available for issuance under Stock Unit Plan for directors

	2015		2014
Shares accrued to directors' accounts		157,672		164,085
Shares available for issuance		677,980		714,978

Schedule of units accrued and redeemed under Stock Unit Plan for directors

	2015		2014		2013
Units accrued for service and dividends		30,595		30,765		34,252
Units redeemed for common stock		37,008		21,083		22,908