Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2015

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

Share-based compensation expense and income tax benefits recognized during the periods

The following table provides information on share-based compensation expense and related income tax benefits recognized in 2015, 2014 and 2013:

	Years ended December 31,
	2015			2014		2013
	(In thousands)
Stock option and stock purchase plans	$	8,048		9,023		8,303
Unvested stock awards	13,133			11,882		11,007
Share-based compensation expense	21,181			20,905		19,310
Income tax benefit	(7,271		)	(7,300	)	(6,224	)
Share-based compensation expense, net of tax	$	13,910		13,605		13,086

Summary of share-based compensation expense recognized related to cash awards

The following table is a summary of compensation expense recognized related to cash awards in addition to share-based compensation expense reported in the previous table.

	Years ended December 31
	2015		2014	2013
	(In thousands)
Cash awards	$	532	1,900	996

Summary of stock option activity

The following is a summary of option activity under our stock option plans as of and for the year ended December 31, 2015:

	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic  Value
	(In thousands)				(In years)	(In thousands)
Options outstanding at January 1	1,269		$	58.03
Granted	363		93.55
Exercised	(282	)	54.26
Forfeited or expired	(87	)	71.63
Options outstanding at December 31	1,263		$	68.13	6.6	$	3,326
Vested and expected to vest at December 31	1,238		$	67.63	6.1	$	3,358
Exercisable at December 31	588		$	53.72	4.4	$	3,339

Summary of Nonvested stock awards

The following is a summary of the status of Ryder’s unvested restricted stock awards as of and for the year ended December 31, 2015:

	Time-Vested			Market-Based			Performance-Based
	Shares	Weighted- Average Grant Date Fair Value		Shares	Weighted- Average Grant Date Fair Value		Shares	Weighted- Average Grant Date Fair Value
	(In thousands)			(In thousands)			(In thousands)
Unvested stock outstanding at January 1	514	$	61.83	94	$	50.27	47	$	68.29
Granted (1)	90	91.84		19	89.40		42	93.05
Vested (1)	(102)	53.95		(46)	43.38		—	—
Forfeited (2)	(29)	74.06		(5)	56.98		(13)	60.57
Unvested stock outstanding at December 31	473	$	68.50	62	$	66.97	76	$	83.31

(1) Includes awards attained above target.

(2) Includes awards canceled due to performance and market conditions not being achieved.

Weighted-average assumptions used for options granted

The following table presents the weighted-average assumptions used for options granted:

	Years ended December 31,
	2015	2014	2013
Option plans:
Expected dividends	1.6%	1.9%	2.1%
Expected volatility	26.4%	29.1%	35.1%
Risk-free rate	1.4%	1.3%	0.7%
Expected term in years	4.3 years	4.3 years	4.3 years
Grant-date fair value	$18.47	$14.99	$13.97