Stock-Based Compensation

6 Months Ended

Jun. 30, 2016

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

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	$	61.16	173,180	$	66.05	5,612,240		$	60.30
Authorized	—		—	—		—	—		—		—
Granted	(8,216	)	8,216	63.25		—	—		—		—
Stock options exercised	—		—	—		—	—		(67,075	)	53.46
Stock awards/units vested	—		—	—		—	—		—		—
Forfeited/expired	39,192		—	—		—	—		(39,192	)	70.84
Balance, June 30, 2016	1,620,703		53,659	$	61.48	173,180	$	66.05	5,505,973		$	60.31

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 June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
New shares issued from available authorized shares	—		—		—		—
Issued from available treasury stock	65,200		157,124		67,075		171,474
Total	65,200		157,124		67,075		171,474

Proceeds from stock option exercises	$	3,490	$	8,222	$	3,586	$	8,950

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 June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Stock options	$	2,117	$	2,028	$	4,242	$	4,194
Non-vested stock awards/stock units	358		267		715		663
Deferred stock units	520		480		520		480
Total	$	2,995	$	2,775	$	5,477	$	5,337

Unrecognized stock-based compensation expense at June 30, 2016 was as follows:



Stock options	$	16,517
Non-vested stock awards/stock units	2,640
Total	$	19,157

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details