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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Fair Value Assumptions for Stock Options

The risk-free rate is the U.S. Treasury note rate that corresponds to the expected option term at the date of grant.

 

 

 

For the Years Ended December 31

 

 

2014

 

2013

 

2012

Expected dividend yield

 

1.77%

 

2.01%

 

2.10%

Expected volatility

 

42.04%

 

42.48%

 

43.19%

Expected term

 

7.3 years

 

7.4 years

 

7.4 years

Risk-free interest rate

 

2.18%

 

1.53%

 

1.41%

 

Summary of Stock Option Activity

A summary of stock option activity for the year ended December 31, 2014 is presented below:

 

 

 

Shares

 

 

Weighted-
Average
Exercise Price

 

 

Weighted-
Average
Remaining
Contractual
Term

 

 

Aggregate
Intrinsic Value
($000)

 

Options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2014

 

 

505,112

 

 

$

30.80

 

 

 

 

 

 

 

 

 

Granted

 

 

53,175

 

 

 

61.69

 

 

 

 

 

 

 

 

 

Exercised

 

 

(67,029)

 

 

 

26.17

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(10,522)

 

 

 

54.41

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2014

 

 

480,736

 

 

 

34.35

 

 

 

4.43

 

 

$

2,757

 

Vested or expected to vest at December 31, 2014

 

 

480,736

 

 

 

34.35

 

 

 

4.43

 

 

 

2,757

 

Exercisable at December 31, 2014

 

 

384,457

 

 

 

27.37

 

 

 

3.37

 

 

 

4,885

 

 

Summary of Stock Award Activity

A summary of stock award activity for the year ended December 31, 2014, is presented below:

 

 

 

Shares

 

 

Weighted-Average Grant
Date
Fair Value

 

Unvested Stock Awards

 

 

 

 

 

 

 

 

Unvested at January 1, 2014

 

 

221,090

 

 

$

48.75

 

Granted

 

 

89,234

 

 

 

59.52

 

Vested

 

 

 

 

 

 

Forfeited

 

 

127,314

 

 

 

43.12

 

Unvested at December 31, 2014

 

 

183,010

 

 

 

57.92

 

 

Summary of SARs Activity

A summary of SARs activity for the year ended December 31, 2014 is presented below:

 

 

 

Shares

 

 

Weighted-
Average
Exercise Price

 

 

Weighted-
Average
Remaining
Contractual
Term

 

 

Aggregate
Intrinsic Value
($000)

 

SARs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2014

 

 

148,311

 

 

$

54.60

 

 

 

 

 

 

 

 

 

Granted

 

 

116,843

 

 

 

61.62

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(33,972

)

 

 

55.99

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2014

 

 

231,182

 

 

 

57.94

 

 

 

8.40

 

 

$

(4,130

)