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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2014
SEIP IV  
Stock-Based Compensation arrangements  
Schedule of Value per Share and Assumptions Used
The following assumptions were used to determine the fair value of the SEIP III and SEIP IV liabilities at the end of the respective periods:
 
December 31,
 
2014
 
2013
 
2012
Valuation Assumptions
 

 
 
 
 
Stock price volatility
33.4
%
 
38.0
%
 
39.5
%
Risk free rate of return
1.0
%
 
1.1
%
 
0.5
%
Annual salary increase rate
4.0
%
 
4.0
%
 
4.0
%
Annual turnover rate
4.6
%
 
4.6
%
 
6.1
%
Restricted Stock Awards  
Stock-Based Compensation arrangements  
Schedule of Value per Share and Assumptions Used
The following table is a summary of restricted stock award activity:
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
Outstanding at beginning of period
27,806

 
$
20.53

 
71,508

 
$
11.82

 
476,388

 
$
9.18

Granted
47,500

 
34.76

 
7,200

 
35.70

 
13,100

 
18.42

Vested
(17,437
)
 
15.84

 
(50,902
)
 
10.44

 
(402,800
)
 
9.03

Forfeited
(8,000
)
 
35.00

 
—

 
—

 
(15,180
)
 
8.80

Outstanding at end of period(1)(2)
49,869

 
$
33.40

 
27,806

 
$
20.53

 
71,508

 
$
11.82

_______________________________________________________________________________
(1)
As of December 31, 2014, the aggregate intrinsic value was $1.5 million and was calculated by multiplying the closing market price of the Company's stock on December 31, 2014 by the number of non-vested restricted stock awards outstanding.
(2)
As of December 31, 2014, the weighted average remaining contractual term of non-vested restricted stock awards outstanding was 1.9 years.
Restricted Stock Units  
Stock-Based Compensation arrangements  
Schedule of Restricted Stock Activity
The following table is a summary of restricted stock unit activity:
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
Outstanding at beginning of period
566,321

 
$
10.75

 
515,468

 
$
9.10

 
687,308

 
$
7.88

Granted and fully vested
37,893

 
38.28

 
50,853

 
27.53

 
76,608

 
18.28

Issued
—

 
—

 
—

 
—

 
(248,448
)
 
8.56

Forfeited
—

 
—

 
—

 
—

 
—

 
—

Outstanding at end of period(1)(2)
604,214

 
$
12.48

 
566,321

 
$
10.75

 
515,468

 
$
9.10

_______________________________________________________________________________
(1)
As of December 31, 2014, the aggregate intrinsic value was $17.9 million and was calculated by multiplying the closing market price of the Company's stock on December 31, 2014 by the number of outstanding restricted stock units.
(2)
Due to the immediate vesting of the units and the unknown term of each director, the weighted-average remaining contractual term in years has not been provided.
Stock Appreciation Rights  
Stock-Based Compensation arrangements  
Schedule of Value per Share and Assumptions Used
The assumptions used in the Black-Scholes calculation on the date of grant for SARs are as follows:
 
Year Ended December 31, 2012
Weighted-average value per SAR granted during the period
$
8.16

Assumptions
 

Stock price volatility
55.3
%
Risk free rate of return
0.9
%
Expected dividend yield
0.3
%
Expected term (in years)
5.0
Summary of SAR activity
The following table is a summary of SAR activity:
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
Shares
 
Weighted-
Average
Exercise
Price
 
Shares
 
Weighted-
Average
Exercise
Price
 
Shares
 
Weighted-
Average
Exercise
Price
Outstanding at beginning of period
667,764

 
$
12.63

 
1,722,444

 
$
9.75

 
2,576,260

 
$
8.02

Granted
—

 
—

 
—

 
—

 
240,884

 
17.59

Exercised
—

 
—

 
(1,054,680
)
 
7.92

 
(1,094,700
)
 
7.42

Forfeited or expired
—

 
—

 
—

 
—

 
—

 
—

Outstanding at end of period(1)
667,764

 
$
12.63

 
667,764

 
$
12.63

 
1,722,444

 
$
9.75

Exercisable at end of period(2)
590,960

 
$
11.98

 
386,582

 
$
11.33

 
1,145,972

 
$
7.97

_______________________________________________________________________________
(1)
The intrinsic value of a SAR is the amount which the current market value of the underlying stock exceeds the exercise price of the SAR. As of December 31, 2014, the aggregate intrinsic value and weighted-average remaining contractual term of SARs outstanding was $11.3 million and 3.3 years, respectively.
(2)
As of December 31, 2014, the aggregate intrinsic value and weighted-average remaining contractual term of SARs exercisable was $10.4 million and 3.2 years, respectively.
Employee Performance Share Awards  
Stock-Based Compensation arrangements  
Schedule of Performance Share Awards Activity
The following table is a summary of activity for Employee Performance Share Awards:
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
Outstanding at beginning of period
1,657,980

 
$
16.25

 
1,919,640

 
$
12.27

 
2,627,900

 
$
8.12

Granted
241,130

 
39.43

 
379,540

 
26.62

 
567,360

 
17.59

Issued and fully vested
(751,780
)
 
10.19

 
(610,960
)
 
10.13

 
(1,189,920
)
 
5.66

Forfeited
(58,370
)
 
23.57

 
(30,240
)
 
17.06

 
(85,700
)
 
12.11

Outstanding at end of period
1,088,960

 
$
25.18

 
1,657,980

 
$
16.25

 
1,919,640

 
$
12.27
Hybrid Performance Share Awards  
Stock-Based Compensation arrangements  
Schedule of Performance Share Awards Activity
The following table is a summary of activity for the Hybrid Performance Share Awards:
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share
Outstanding at beginning of period
450,212

 
$
18.96

 
592,162

 
$
13.11

 
759,328

 
$
9.16

Granted
123,257

 
39.43

 
169,980

 
26.62

 
234,922

 
17.59

Issued and fully vested
(244,408
)
 
15.41

 
(311,930
)
 
12.03

 
(402,088
)
 
8.27

Forfeited
—

 
—

 
—

 
—

 
—

 
—

Outstanding at end of period
329,061

 
$
29.27

 
450,212

 
$
18.96

 
592,162

 
$
13.11
TSR Performance Share Awards  
Stock-Based Compensation arrangements  
Schedule of Performance Share Awards Activity
The following table is a summary of activity for the TSR Performance Share Awards:
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share(1)
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share(1)
 
Shares
 
Weighted-
Average Grant
Date Fair Value
per Share(1)
Outstanding at beginning of period
860,686

 
$
14.06

 
605,706

 
$
10.27

 
1,495,904

 
$
6.07

Granted
184,885

 
32.04

 
254,980

 
23.06

 
234,922

 
14.16

Issued and fully vested
(370,784
)
 
7.81

 
—

 
—

 
(1,125,120
)
 
5.49

Forfeited
—

 
—

 
—

 
—

 
—

 
—

Outstanding at end of period
674,787

 
$
22.42

 
860,686

 
$
14.06

 
605,706

 
$
10.27

_______________________________________________________________________________
(1) The grant date fair value figures in this table represent the fair value of the equity component of the performance
share awards.
TSR Performance Share Awards | Equity Component  
Stock-Based Compensation arrangements  
Schedule of Value per Share and Assumptions Used
The following assumptions were used to determine the grant date fair value of the equity component of the TSR Performance Share Awards for the respective periods:
 
Year Ended December 31,
 
2014
 
2013
 
2012
Fair value per performance share award granted during the period
$
32.04

 
$
23.06

 
$
14.16

Assumptions
 

 
 

 
 

Stock price volatility
41.3
%
 
43.8
%
 
46.7
%
Risk free rate of return
0.7
%
 
0.4
%
 
0.4
%
Expected dividend yield
0.2
%
 
0.2
%
 
0.2
%
TSR Performance Share Awards | Liability Component  
Stock-Based Compensation arrangements  
Schedule of Value per Share and Assumptions Used
The following assumptions were used to determine the fair value of the liability component of the TSR Performance Share Awards for the respective periods:
 
December 31,
 
2014
 
2013
 
2012
Fair value per performance share award at the end of the period
$12.88 - $29.72
 
$23.96 - $38.61
 
$19.11 - $24.76
Assumptions
 
 
 
 
 
Stock price volatility
29.1% - 29.7%
 
30.2% - 35.9%
 
41.1% - 45.7%
Risk free rate of return
0.3% - 0.7%
 
0.1% - 0.4%
 
0.2% - 0.3%
Expected dividend yield
0.3%
 
0.2%
 
0.2%