Long-term Equity-based Compensation Plans (Tables)

The assumptions used in the Black-Scholes pricing model for Tandem Awards granted during the three months ended March 31, 2016 and 2015 were as follows:



	Three Months Ended
	Mar 31, 2016					Mar 31, 2015
Range of Valuation Assumptions
Expected Volatility	25.85	%	-	27.82	%	22.49	%	-	41.65	%
Risk-free Interest Rate	1.15		-	1.55		1.08		-	1.63
Expected Dividend Yield	3.41		-	3.41		2.62		-	2.62
Weighted-Average Expected Life in Years
Employee Grants	4		-	6.5		4		-	7
Director Grants	N/A					5.5

Tandem Award activity for the three months ended March 31, 2016 is presented below.



	Shares Subject to Awards		Weighted- average Exercise Price Per Share ($)		Weighted- average Remaining Contractual Life (in Years)	Aggregate Intrinsic Value ($ in Millions)
Outstanding at Beginning of the Year	1,428,157		$	39.75
Granted	300,827		27.71
Exercised	—		—
Forfeited or Expired	(257,000	)	46.45
Outstanding at March 31, 2016	1,471,984		$	36.12	6.70	$	0.8
Vested and Expected to Vest at March 31, 2016	1,415,681		$	36.25	6.60	$	0.7
Exercisable at March 31, 2016	751,437		$	38.96	4.30	$	—

Information pertaining to Tandem Awards outstanding at March 31, 2016 is presented below.



					Outstanding				Exercisable
Range of Exercise Prices Per Share ($)					Shares Subject to Tandem Awards	Weighted- average Exercise Price Per Share ($)		Weighted- average Remaining Contractual Life (in Years)	Shares Subject to Tandem Awards	Weighted- average Exercise Price Per Share ($)
$	15.01	-	$	20.00	4,000	$	16.48	3.10	4,000	$	16.48
20.01		-	25.00		14,500	23.47		3.82	14,500	23.47
25.01		-	30.00		376,577	27.90		8.97	75,750	28.67
30.01		-	35.00		168,625	33.19		6.27	131,998	33.12
35.01		-	40.00		575,000	36.56		7.22	290,187	36.83
40.01		-	45.00		103,782	40.70		9.64	5,502	40.70
45.01		-	50.00		229,500	49.73		0.84	229,500	49.73
15.01		-	50.00		1,471,984	36.12		6.69	751,437	38.96

Activity related to nonvested time-based restricted stock and nonvested time-based RSUs for the three months ended March 31, 2016 was as follows:



	Time-based Restricted Stock Awards				Time-based RSU Awards
	Number of Shares		Weighted- average Grant-date Fair Value Per Share		Number of RSUs		Weighted- average Grant-date Fair Value Per RSU
Nonvested Balance at Beginning of the Year	29,448		$	33.77	85,048		$	36.84
Granted	—		—		40,201		27.71
Vested	(1,500	)	29.95		—		—
Forfeited	(1,275	)	35.89		(16,150	)	36.18
Nonvested Balance at End of Period	26,673		33.88		109,099		33.57

Activity related to nonvested performance-based restricted stock and nonvested performance-based RSUs for the three months ended March 31, 2016 is presented below.



	Performance-based Restricted Stock Awards				Performance-based RSU Awards
	Number of Shares		Weighted- average Grant-date Fair Value Per Share		Number of RSUs		Weighted- average Grant-date Fair Value Per RSU
Nonvested Balance at Beginning of the Year	51,400		$	42.12	128,100		$	41.85
Granted	—		—		118,435		27.74
Vested	—		—		—		—
Forfeited	(51,400	)	42.12		(9,550	)	41.76
Nonvested Balance at End of Period	—		—		236,985		34.80