Share-Based Compensation (Tables)

9 Months Ended

Sep. 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, 2017	246,535	$	42.53
Granted	33,634		91.23
Exercised	(29,030)		34.09
Outstanding at September 30, 2017	251,139		50.02	5.15	$	10,094
Exercisable at September 30, 2017	181,152		39.84	3.87	$	9,096
Weighted-average fair value of options granted during the year	$ 35.42

Schedule of weighted-average assumptions used in valuing options

	Nine months ended September 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 nine months ended  September 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	21,683		88.63
Vested	(52,153)		47.82
Forfeited	(1,000)		91.35
Nonvested at September 30, 2017	151,544		58.28

Summary of nonvested RSUs

Nonvested RSUs for the nine months ended September 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	66,655		89.01
LTIP Adjustment	(3,951)		63.93
Nonvested at September 30, 2017	170,580		75.27