Employee Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2015

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

Summarizes of Company's Non-Vested ESP/EIP Awards

The following table summarizes the status of the Company's non-vested restricted Class A Stock awards under the EIP, ESP and OIP for the year ended December 31, 2015:



	Number of Class A Shares Subject to Restricted Stock Awards		Weighted Average Fair Value		Remaining Contractual Life
Nonvested at beginning of year	1,239,346		$	20.12	1.7 Years
Granted	399,566		19.05		3.4 Years
Vested	(210,516	)	24.59		—
Forfeited	(170,838	)	18.27		—
Nonvested at end of year	1,257,558		$	19.29	1.7 Years

Schedule of Fair Value of Awarded Stock Option Estimated on Grant Date Using Black-Scholes Model

The fair value of each award of stock options was estimated on the grant date using the Black-Scholes model with the following assumptions:



				Grant Date Assumptions
	2015			2014			2013			2012			2011
Expected term ⁽¹⁾	5 years			5 years			5 years			5 years			5 years
Expected volatility factor ⁽²⁾	55.43		%	56.31		%	53.82		%	54.95		%	52.52		%
Risk-free interest rate ⁽³⁾	1.27		%	1.49		%	0.84		%	0.70		%	2.00		%
Actual dividends ⁽⁴⁾	$	0.44		$	0.44		$	0.44		$	0.44		$	0.44


(1)	The expected term was determined based on actual awards.


(2)	The volatility factor was measured using the weighted average of historical daily price changes of the Company's Class A Stock over a historical period commensurate to the expected term of the awards.


(3)	The risk-free interest rate was based on periods equal to the expected term of the awards based on the U.S. Treasury yield curve in effect at the time of grant.


(4)	Actual dividends were used to compute the expected annual dividend yield.

Schedule of Stock Option Activity

Stock option activity under the OIP and EIP since January 1, 2014 is summarized as follows:



	Year Ended December 31,
	2015					2014
	Number of Options			Weighted Average Exercise Price		Number of Options			Weighted Average Exercise Price
Options outstanding at beginning of year	45,549			$	25.50	72,573			$	24.46
Options granted	4,177			19.76		2,976			23.49
Options exercised	—			—		(15,000		)	12.33
Options forfeited or expired	(37,699		)	26.12		(15,000		)	33.22
Options outstanding at end of year	12,027			$	21.57	45,549			$	25.50
Options vested at end of year	3,366			$	23.56	30,513			$	25.99
Weighted average fair value of options granted during the year	$	7.87				$	9.94

Summarizes Stock Options Outstanding and Exercisable

The following table summarizes stock options outstanding and exercisable as of December 31, 2015:



Range of Exercise Prices	Number of Options Outstanding	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price of Outstanding Options		Number of Options Exercisable (Vested)	Weighted Average Exercise Price of Vested Options
$17.20 - $20.00	6,718	3.08 Years	$	19.29	1,033	$	18.82
$20.01 - $25.66	5,309	1.76 Years	24.44		2,333	25.66
$17.20 - $25.66	12,027	2.50 Years	$	21.57	3,366	$	23.56

Summarizes of Company's Non-Vested Options

The following table summarizes the status of the Company's non-vested options for the year ended December 31, 2015:



	Number of Options		Weighted Average Fair Value
Nonvested at beginning of year	15,036		$	10.17
Granted	4,177		7.87
Vested	(10,552	)	10.66
Nonvested at end of year	8,661		$	8.46

Stock Appreciation Rights

The following table summarized the status of the Company's outstanding OARs awards as of December 31, 2015:



Grant Date	Number of OARs Outstanding	Strike Price		Remaining Contractual Life	Fair Value at December 31, 2015
January 13, 2011	289,320	$	26.35	12 Days	$	—
January 19, 2012	324,710	18.94		1 Year	1.52
January 14, 2013	347,130	15.94		2 Years	3.45
January 14, 2014	442,790	23.48		3 Years	1.78
January 9, 2015	503,080	21.94		4 Years	2.74
	1,907,030
Total weighted average values		$	21.36	2.3 Years	$	2.02