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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Fair Value Assumptions for Stock Options

The following are the weighted-average assumptions used to calculate the grant-date fair values of stock option awards granted in the years ended December 31, 2015, 2014 and 2013:

 

 

 

For the Years Ended December 31

 

 

2015

 

2014

 

2013

Expected dividend yield

 

1.53%

 

1.77%

 

2.01%

Expected volatility

 

40.32%

 

42.04%

 

42.48%

Expected term

 

7.3 years

 

7.3 years

 

7.4 years

Risk-free interest rate

 

1.96%

 

2.18%

 

1.53%

 

Summary of Stock Option Activity

A summary of stock option activity for the year ended December 31, 2015 is presented below:

 

 

 

Shares

 

 

Weighted-

Average

Exercise Price

 

 

Weighted-

Average

Remaining

Contractual

Term

 

 

Aggregate

Intrinsic Value

($000)

 

Options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2015

 

 

480,736

 

 

$

34.35

 

 

 

 

 

 

 

 

 

Granted

 

 

84,672

 

 

 

41.21

 

 

 

 

 

 

 

 

 

Exercised

 

 

(45,289

)

 

 

17.16

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(13,035

)

 

 

52.25

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2015

 

 

507,084

 

 

 

36.57

 

 

 

4.53

 

 

$

6,654

 

Vested or expected to vest at December 31, 2015

 

 

506,473

 

 

 

36.56

 

 

 

4.52

 

 

 

6,649

 

Exercisable at December 31, 2015

 

 

381,257

 

 

 

32.59

 

 

 

3.14

 

 

 

6,518

 

 

Summary of Stock Award Activity

A summary of stock award activity for the year ended December 31, 2015, is presented below:

 

 

Shares

 

 

Weighted-Average

Grant

Date

Fair Value

 

Unvested Stock Awards

 

 

 

 

 

 

 

 

Unvested at January 1, 2015

 

 

183,010

 

 

$

57.92

 

Granted

 

 

141,000

 

 

 

39.11

 

Vested

 

 

(15,088

)

 

 

33.14

 

Forfeited

 

 

(100,419

)

 

 

58.84

 

Unvested at December 31, 2015

 

 

208,503

 

 

 

46.55

 

 

Summary of SARs Activity

The following is a summary of SARs activity for the year ended December 31, 2015:

 

 

 

Shares

 

 

Weighted-

Average

Exercise Price

 

 

Weighted-

Average

Remaining

Contractual

Term

 

 

Aggregate

Intrinsic Value

($000)

 

SARs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2015

 

 

231,182

 

 

$

57.94

 

 

 

 

 

 

 

 

 

Granted

 

 

187,527

 

 

 

41.23

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(28,754

)

 

 

52.67

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2015

 

 

389,955

 

 

 

50.30

 

 

 

8.16

 

 

$

(236

)