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Share-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Key Assumptions Used to Estimate Fair Value of Stock Options Granted

The following are the key assumptions used for three-month period ended March 31, 2017:

Risk-free interest rate

 

1.9%

 

Expected life of the options (years)

 

5

 

Expected stock price volatility

 

35.4%

 

Expected dividend rate

 

2.8%

 

 

Stock Option Activity

The following table summarizes stock option activity for the three months ended March 31, 2018:

 

 

 

Number of

Shares

 

 

Weighted

Average

Exercise

Price

 

 

 

(In thousands)

 

 

 

 

 

Options outstanding, beginning of period

 

 

3,169

 

 

$

32.49

 

Additional options granted based upon achievement of

   specified performance criteria

 

 

81

 

 

 

32.42

 

Canceled/Expired

 

 

(168

)

 

 

27.24

 

Exercised

 

 

(55

)

 

 

27.17

 

Options outstanding, end of period

 

 

3,027

 

 

 

32.74

 

 

Fully Vested Stock Options and Stock Options Expected to Vest

A summary of stock options outstanding as of March 31, 2018 is as follows:

 

 

 

Number of

Shares

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Contractual

Terms

 

 

Aggregate

Intrinsic

Value

 

 

 

(In thousands)

 

 

 

 

 

 

(In years)

 

 

(In thousands)

 

Outstanding

 

 

3,027

 

 

$

32.74

 

 

 

5.84

 

 

$

33,168

 

Exercisable

 

 

2,639

 

 

 

33.06

 

 

 

5.44

 

 

 

28,147

 

 

Restricted Stock Award Activity

A summary of restricted stock award activity is as follows:

 

 

Shares

 

 

Weighted

Average

Grant Date

Fair Value

 

 

 

(In thousands)

 

 

 

 

 

Restricted stock awards at beginning of period

 

 

234

 

 

$

31.42

 

Awarded

 

 

201

 

 

 

37.85

 

Released

 

 

(69

)

 

 

32.00

 

Forfeited

 

 

(6

)

 

 

35.72

 

Restricted stock awards at end of period

 

 

360

 

 

 

34.84