Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of restricted stock units issued and compensation expense

The following table summarizes RSUs issued and the compensation expense recorded for the years ended December 31, 2016, 2015 and 2014:

	RSUs (a)	Weighted Average Fair Value		Expense
(Dollars in thousands, except per unit)				2016		2015				2014
Directors:
2013	46,287	$	20.60	$	—	$	—			$	318
2014	36,840	$	24.80	—		311				602
2015	59,985	$	15.69	314		627				—
2016	109,998	$	7.00	513		—				—
Employees:
2011	17,250	$	23.55	—		—				3
2012	141,486	$	18.75	—		(71		)	(b)	151
2013	170,582	$	20.63	66		87				325
2014	190,832	$	25.21	669		504				1,114
2015	239,679	$	16.53	880		919				—
2016	536,773	$	7.09	995		—				—
Total				$	3,437	$	2,377			$	2,513

(a) Represents number of awards originally issued.

(b) Represents the impact of forfeitures during 2015.

Schedule of restricted stock unit activity

RSU activity for the year ended December 31, 2016 was as follows:

	Number of Shares		Weighted Average Grant-Date Fair Value
Non-vested at December 31, 2015	438,358		$	19.12
Granted	646,771		$	7.08
Vested	(102,256	)	$	17.65
Forfeited	(55,791	)	$	13.90
Non-vested at December 31, 2016	927,082		$	11.19

Schedule of Stock Appreciation Rights award activity

SARs activity for the years ended December 31, 2016 was as follows:

	Number of Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value (in millions) (c)
Outstanding, December 31, 2015	1,100,410		$	20.55	$	—
Granted	576,405		$	7.20
Forfeited/Expired	(140,942	)	$	17.58
Outstanding, December 31, 2016	1,535,873		$	15.81	$	3.4

(c) Intrinsic value is defined as the difference between the current market value and the exercise price, for those SARs where the market price exceeds the exercise price.

Schedule of nonvested awards activity

The following table summarizes information concerning outstanding and exercisable SARs at December 31, 2016:

	SARs Outstanding					SARs Exercisable
Range of exercisable prices	Vested	Non-vested	Weighted-Average Exercise Price per Share		Weighted-Average Remaining Contractual Life in Years	Number Exercisable	Weighted-Average Exercise Price per Share
$7.00 - $12.25	—	538,862	$	7.21	9.36	—	$	—
$16.53 - $22.70	274,632	414,447	$	18.44	7.56	274,632	$	18.53
$23.03 - $26.92	246,717	61,215	$	25.00	7.41	246,717	$	25.18
	521,349	1,014,524	$	15.81	7.81	521,349	$	21.68

Schedule of stock option activity

Stock option activity for the years ended December 31, 2016 was as follows:

	Number of Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value (in millions)(e)
Outstanding, December 31, 2015	90,000		$	31.75	$	—
Forfeited/Expired	(35,000	)	$	31.75	$	—
Outstanding, December 31, 2016	55,000		$	31.75	$	—

(e) Intrinsic value is defined as the difference between the current market value and the exercise price, for those options where the market price exceeds the exercise price.

Schedule of outstanding and exercisable options

The following table summarizes information concerning outstanding and exercisable options at December 31, 2016:

	Stock Options Outstanding					Stock Options Exercisable
Range of Exercisable Prices	Vested	Non-vested	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life in Years	Number Exercisable	Weighted Average Exercise Price Per Share
$31.75 - $31.75	55,000	—	$	31.75	1.1	55,000	$	31.75

Stock Appreciation Rights (SARs)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of stock appreciation rights valuation assumptions

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

	Risk-free Interest rate		Dividend Yield		Expected Life (Years)	Volatility		SAR Grant Price		Fair Value of SAR
May 2013 Grant	1.17	%	3.61	%	6.5	44.1	%	$	22.70	$	6.86
June 2013 Grant	1.41	%	3.56	%	6.5	44.1	%	$	23.03	$	7.07
November 2013 Grant	1.91	%	3.13	%	6.5	43.8	%	$	26.22	$	8.60
April 2014 Grant	1.98	%	3.53	%	6.0	44.3	%	$	23.25	$	7.25
May 2014 Grant (1st)	1.90	%	3.16	%	6.0	43.2	%	$	25.93	$	8.16
May 2014 Grant (2nd)	1.82	%	3.05	%	6.0	42.8	%	$	26.92	$	8.47
July 2014 Grant	2.00	%	3.24	%	6.0	41.2	%	$	25.27	$	7.55
August 2014 Grant	1.92	%	3.27	%	6.0	41.2	%	$	25.11	$	7.46
September 2014 Grant	2.03	%	3.50	%	6.0	40.6	%	$	23.43	$	6.72
November 2014 Grant	1.78	%	4.00	%	6.0	38.6	%	$	20.48	$	5.17
May 2015 Grant	1.70	%	4.96	%	6.0	35.8	%	$	16.53	$	3.39
May 2016 Grant	1.39	%	—	%	6.0	42.1	%	$	7.00	$	2.93
November 2016 Grant	1.74	%	—	%	6.0	43.8	%	$	12.25	$	5.38

Schedule of weighted-average grant-date fair value of unvested options

Weighted-average grant date fair value of non-vested SARs for the years ended December 31, 2016 was as follows:

	Number of Shares		Weighted-Average Grant Date Fair Value
Non-vested shares, December 31, 2015	852,099		$	5.04
Granted	576,405		$	3.02
Vested	(328,965	)	$	5.40
Forfeited	(85,015	)	$	4.28
Non-vested shares, December 31, 2016	1,014,524		$	3.84

Performance Stock Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of stock appreciation rights valuation assumptions

The fair value of PSUs granted was estimated on the grant date using a Monte Carlo pricing model with the following assumptions:

	Risk-free Interest rate		Dividend Yield		Expected Life (Years)	Volatility		Fair Value of PSU
April 2014 Grant	0.75	%	—	%	2.73	34.3	%	$	18.00
May 2014 Grant (1st)	0.70	%	—	%	2.65	31.8	%	$	25.26
May 2014 Grant (2nd)	0.63	%	—	%	2.61	30.1	%	$	27.53
July 2014 Grant	0.74	%	—	%	2.42	26.9	%	$	22.31
August 2014 Grant	0.67	%	—	%	2.42	26.9	%	$	21.86
September 2014 Grant	0.72	%	—	%	2.29	25.7	%	$	15.26
November 2014 Grant	0.55	%	—	%	2.10	26.3	%	$	7.42
May 2015 Grant	0.83	%	—	%	2.65	28.5	%	$	14.48
May 2016 Grant	0.84	%	—	%	2.65	33.3	%	$	7.19
November 2016 Grant	0.96	%	—	%	2.14	35.2	%	$	17.84

Schedule of weighted-average grant-date fair value of unvested options

A summary of the Company's non-vested PSU activity during the years ending December 31, 2016 was as follows:

	Number of Shares		Weighted-Average Grant Date Fair Value
Non-vested shares, December 31, 2015	315,212		$	16.94
Granted	536,773		$	7.38
Forfeited	(63,217	)	$	12.78
Cancellations (d)	(96,206	)	$	21.69
Non-vested shares, December 31, 2016	692,562		$	9.25