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Share-Based Payments (Tables)
 6 Months Ended
Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Shares Available for Grant and Stock Option Activity
A summary of shares available for grant and activity is detailed below.

 
 
 
Options Outstanding
 
Shares
Available
For Grant
 
Shares
 
Weighted-
Average
Exercise
Price
 
 
 
 
 
 
Stock Options:
 
 
 
 
 
Balance at January 1, 2015
291,000

 
29,768

 
$
242.48

Exercised
—

 
—

 
$
—

Forfeited
—

 
(1,000
)
 
$
255.13

Expired
—

 
—

 
$
—

Stock options granted
—

 
—

 
$
—

 
 
 
 
 
 
Balance at June 30, 2015
291,000

 
28,768

 
$
242.04
Schedule of Stock Appreciation Rights Activity
 
Stock Appreciation Rights Outstanding
 
Awards
 
Weighted-
Average
Exercise
Price
 
 
 
 
Stock Appreciation Rights:
 
 
 
Balance at January 1, 2015
92,186

 
$
157.71

Exercised
(3,975
)
 
$
143.19

Forfeited
—

 
$
—

Granted
—

 
$
—

 
 
 
 
Balance at June 30, 2015
88,211

 
$
158.36
Summary of Information About Stock Options and SARs Outstanding
The following table summarizes information about stock options and SARs outstanding at June 30, 2015.

 
 
Options/SARs Outstanding
 
 
Number
Outstanding
 
Weighted-
Average
Remaining
Contractual Life
 
Number
Exercisable
 
 
 
 
 
 
 
Exercise prices:
 
 
 
 
 
 $255.13 (options)
 
20,768

 
2.8 years
 
20,768

 $208.05 (options)
 
8,000

 
3.0 years
 
8,000

 $236.00 (SARs)
 
250

 
3.1 years
 
200

 $114.64 (SARs)
 
23,943

 
3.6 years
 
19,764

 $132.56 (SARs)
 
29,518

 
6.5 years
 
8,704

 $210.22 (SARs)
 
34,500

 
8.4 years
 
1,800

 
 
 
 
 
 
 
Totals
 
116,979

 
 
 
59,236

 
 

 
 
 
 

Aggregate intrinsic value (in thousands)
$
7,408

 
 
 
$
3,703
Summary of Assumptions Employed Using Black-Scholes Option Pricing Model
In estimating the fair value of the options outstanding at June 30, 2015 and December 31, 2014, the Company employed the Black-Scholes option pricing model with assumptions detailed below.

 
June 30,
2015
 
December 31,
2014
 
 
 
 
Expected term of options
2.8 to 8.4 years

 
3.3 to 9.0 years

Expected volatility:
 
 
 
Range
21.14% to 37.77%

 
19.67% to 37.75%

Weighted-average
23.96
%
 
22.91
%
Expected dividend yield
0.15
%
 
0.13
%
Risk-free rate:
 
 
 
Range
0.22% to 1.54%

 
0.13% to 1.62%

Weighted-average
0.52
%
 
0.56
%