XML 55 R40.htm IDEA: XBRL DOCUMENT v3.3.1.900
Stock Plans (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule Of Stock-Based Compensation Expense
Stock-based compensation expense was as follows:
(In thousands)
2015
 
2014
 
2013
Restricted stock
$
3,035

 
$
4,026

 
$
4,129

Stock options
2,454

 
2,355

 
2,825

Performance stock
2,110

 
2,672

 
3,383

Total compensation expense before income taxes
7,599

 
9,053

 
10,337

Income tax benefit
2,896

 
3,293

 
3,810

Total compensation expense, net of income tax benefit
$
4,703

 
$
5,760

 
$
6,527

Schedule Of Fair Value Weighted Average Assumptions For Options Granted
Stock option expense is based on the fair value of stock option grants estimated on the grant dates using the Black-Scholes option pricing model and the following weighted average assumptions for options granted in 2015, 2014 and 2013.
 
2015
 
2014
 
2013
Fair value per option
$
15.63

 
$
17.26

 
$
14.17

Risk-free interest rate
1.8
%
 
2.1
%
 
1.2
%
Expected dividend yield
2.3
%
 
2.4
%
 
2.8
%
Expected volatility
39
%
 
41
%
 
39
%
Expected life (years)
6.7

 
6.6

 
6.1

Summary Of Option Activity
A summary of option activity follows:
 
Shares
 
Weighted
Average
Exercise Price
 
Exercisable at
Year-end
Outstanding January 1, 2013
1,784,660

 
$
33.05

 
 
Granted
188,407

 
49.03

 
 
Exercised
(277,687
)
 
34.72

 
 
Outstanding December 31, 2013
1,695,380

 
34.55

 
1,178,657

Granted
138,519

 
51.69

 
 
Exercised
(190,743
)
 
36.31

 
 
Expired
(1,071
)
 
45.68

 
 
Forfeited
(23,524
)
 
38.82

 
 
Outstanding December 31, 2014
1,618,561

 
35.74

 
1,147,712

Granted
170,683

 
48.64

 
 
Exercised
(64,752
)
 
38.59

 
 
Expired
(1,109
)
 
44.36

 
 
Forfeited
(28,708
)
 
49.71

 
 
Outstanding December 31, 2015
1,694,675

 
$
36.69

 
1,280,665

Characteristics of Outstanding and Exercisable Stock Options
For various exercise price ranges, characteristics of outstanding and exercisable stock options at December 31, 2015 were as follows:
 
Stock Options Outstanding
Range of Exercise Prices
Shares
 
Weighted-Average
Exercise Price
 
Remaining Life
$17.83 – $29.33
533,382

 
$
21.67

 
3.52
$33.55 – $40.88
461,108

 
36.88

 
3.92
$41.26 – $51.69
700,185

 
47.99

 
5.94
$17.83 – $51.69
1,694,675

 
36.69

 
4.62
 
Stock Options Exercisable
Range of Exercise Prices
Shares
 
Weighted-Average
Exercise Price
 
Remaining Life
$17.83 – $29.33
533,382

 
$
21.67

 
3.52
$33.55 – $40.88
461,108

 
36.88

 
3.92
$41.26 – $48.95
286,175

 
45.63

 
2.62
$17.83 – $48.95
1,280,665

 
$
32.50

 
3.46
Summary of Restricted Stock and Unit Activity
A summary of restricted stock and unit activity follows:
 
Shares
 
Weighted Average
Grant Date
Fair Value
Unvested at January 1, 2013
417,843

 
$
31.92

Granted
92,448

 
48.98

Vested
(197,465
)
 
27.42

Forfeited
(9,407
)
 
40.23

Unvested at December 31, 2013
303,419

 
39.79

Granted
83,543

 
51.91

Vested
(108,245
)
 
34.94

Forfeited
(9,974
)
 
44.42

Unvested at December 31, 2014
268,743

 
45.34

Granted
83,725

 
48.06

Vested
(111,834
)
 
39.01

Forfeited
(22,925
)
 
45.84

Unvested at December 31, 2015
217,709

 
$
49.70

Summary of Performance Stock Unit Activity
A summary of performance stock unit activity follows:
 
Shares
 
Weighted Average
Grant Date
Fair Value
Unvested at January 1, 2013
137,672

 
$
35.85

Granted
53,357

 
57.58

Vested
(45,809
)
 
26.08

Performance adjustments
4,169

 
25.84

Unvested at December 31, 2013
149,389

 
46.32

Granted
46,242

 
57.42

Vested
(91,696
)
 
39.19

Performance adjustments
41,428

 
39.42

Forfeited
(1,402
)
 
48.85

Unvested at December 31, 2014
143,961

 
52.42

Granted
87,256

 
41.99

Vested
(66,200
)
 
41.75

Performance adjustments
16,447

 
41.45

Forfeited
(9,820
)
 
51.51

Unvested at December 31, 2015
171,644

 
$
50.24