Stock-Based Compensation

3 Months Ended

Mar. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

Stock-Based Compensation

A combined summary of activity in our active stock-based compensation plans is presented in the following table.

		Director Deferred Stock Units Outstanding			Non-Vested Stock Awards/Stock Units Outstanding			Stock Options Outstanding
	Shares Available for Grant	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares		Weighted- Average Exercise Price
Balance, January 1, 2016	1,589,727	45,443	$	61.35	173,180	$	66.05	5,612,240		$	60.30
Authorized	—	—	—		—	—		—		—
Granted	—	—	—		—	—		—		—
Stock options exercised	—	—	—		—	—		(1,875	)	51.21
Stock awards/units vested	—	—	—		—	—		—		—
Forfeited/expired	26,775	—	—		—	—		(26,775	)	70.55
Balance, March 31, 2016	1,616,502	45,443	$	61.35	173,180	$	66.05	5,583,590		$	60.26

Shares issued in connection with stock compensation awards are issued from available treasury shares. If no treasury shares are available, new shares are issued from available authorized shares. Shares issued in connection with stock compensation awards along with other related information were as follows:

	Three Months Ended   March 31,
	2016		2015
New shares issued from available authorized shares	—		—
Issued from available treasury stock	1,875		14,350
Total	1,875		14,350
Proceeds from stock option exercises	$	96	$	728

Stock-based compensation expense is recognized ratably over the requisite service period for all awards. The service period generally matches the vesting period for most awards; however, the service period for certain executive officers does not extend past the date they reach 65 years of age. Stock-based compensation expense was as follows:

	Three Months Ended   March 31,
	2016		2015
Stock options	$	2,125	$	2,166
Non-vested stock awards/stock units	357		396
Deferred stock units	—		—
Total	$	2,482	$	2,562

Unrecognized stock-based compensation expense at March 31, 2016 was as follows:

Stock options	$	18,759
Non-vested stock awards/stock units	2,998
Total	$	21,757