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Stock Options and Restricted Stock (Tables)

12 Months Ended

Dec. 31, 2015

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

The weighted-average fair value of options granted in 2015 and 2014 and the weighted-average assumptions used in the Black-Scholes-Merton option pricing model for such grants were as follows:



	2015			2014
Dividend Yield	.3		%	.3		%
Expected Volatility	28.9		%	31.9		%
Risk-free Interest Rate	1.6		%	1.9		%
Expected Term (in years)	5.2			6.2
Weighted-average Fair Value of Stock Options Granted	$	8.41		$	9.61

Summary Information about Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2015:



	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding December 31, 2015	Weighted Average Remaining Contractual Life (in Years)	Weighted Average Exercise Price		Number Exercisable December 31, 2015	Weighted Average Exercise Price
$10.01-15.00	199,000	2.79	$	14.11	199,000	$	14.11
15.01-20.00	82,500	4.15	19.92		82,500	19.92
20.01-25.00	7,521	8.85	24.98		—	—
25.01-30.00	380,646	8.91	28.23		53,640	27.80
30.01-32.20	202,687	8.97	31.93		—	—
10.01-32.20	872,354	7.08	25.05		335,140	17.73

Summary of Stock Option Activity

The table below summarizes option activity for the year ended December 31, 2015:



	Options (In Thousands)		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)	Aggregate Intrinsic Value (in Thousands)		Weighted Average Fair Value
Outstanding at January 1, 2015	624		$	21.52
Granted	338		30.17
Exercised	(61	)	16.95
Forfeited/expired	(29	)	28.92
Outstanding at December 31, 2015	872		25.05		7.08	$	—	$	8.31
Expected to Vest at December 31, 2015	485		29.56		8.93	—		8.90
Exercisable at December 31, 2015	335		17.73		4.11	1,562		7.39

Summary of Restricted Stock Activity

The following table summarizes information about restricted stock activity during 2015:



	Restricted Stock (In Thousands)			Weighted Average Fair Value
Non-vested at January 1, 2015	698			$	28.75
Granted	261			31.78
Vested	(61	)		27.07
Forfeited	(77	)		29.45
Non-vested at December 31, 2015	821		¹	29.77

¹The outstanding non-vested restricted stock as of December 31, 2015 includes 37,500 shares that are subject to performance conditions.

Summary of Performance Share Units

The following table summarizes information about performance share unit activity based on the target share amounts during 2015:



	Performance Share Units (In Thousands)		Weighted Average Fair Value
Non-vested at January 1, 2015	111		$	32.01
Granted	358		32.03
Vested	—		—
Forfeited/unearned	(124	)	29.86
Non-vested at December 31, 2015	345		32.80