Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Share-Based Compensation

Schedule of stock option activity

				Weighted
		Weighted		Average	Aggregate
		Average		Remaining	Intrinsic
	Shares	Price		(Yrs.)	(000's)
Outstanding at  January 1	246,535	$	42.53
Granted	33,634		91.23
Exercised	(9,002)		34.14
Outstanding at March 31	271,167		48.85	5.38	$	11,049
Exercisable at March 31	201,180		39.26	4.13	$	10,077
Weighted-average fair value of options granted during the year	$ 35.42

Schedule of weighted-average assumptions used in valuing options

	Three months ended  March 31,
	2017		2016
Dividend yield	1.40	%	1.60	%
Expected life	8.5	years	8.5	years
Expected volatility	37.2	%	40.6	%
Risk-free interest rate	2.43	%	1.90	%

Summary of nonvested restricted stock

Nonvested restricted stock for the three months ended March 31, 2017 is summarized in the following table.  All information has been retroactively adjusted for stock dividends and stock splits.

		Weighted-
		Average
		Grant-Date
Restricted Stock	Shares	Fair Value
Nonvested at January 1, 2017	183,014	$	51.88
Granted	11,273		91.22
Vested	(44,011)		43.49
Nonvested at March 31, 2017	150,276		57.29

Summary of nonvested RSUs

Nonvested RSUs for the three months ended March 31,  2017 is summarized in the following table.

		Weighted-
		Average
		Grant-Date
Restricted Stock Units	Shares	Fair Value
Nonvested at January 1, 2017	107,876	$	66.37
Granted	61,193		89.40
LTIP Adjustment	(3,951)		63.93
Nonvested at March 31, 2017	165,118		74.96