Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 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	(29,030)		34.09
Outstanding at June 30	251,139		50.02	5.40	$	9,298
Exercisable at June 30	181,152		39.84	4.12	$	8,436
Weighted-average fair value of options granted during the year	$ 35.42

Schedule of weighted-average assumptions used in valuing options

	Six months ended June 30,
	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 six months ended June 30, 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	16,351		90.20
Vested	(47,663)		45.36
Forfeited	(500)		91.35
Nonvested at June 30, 2017	151,202		57.95

Summary of nonvested RSUs

Nonvested RSUs for the six months ended June 30,  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	61,657		89.39
LTIP Adjustment	(3,951)		63.93
Nonvested at June 30, 2017	165,582		75.00