XML 61 R45.htm IDEA: XBRL DOCUMENT v3.6.0.2
Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
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, 2016, 2015 and 2014:

 

 

 

For the Years Ended December 31

 

 

2016

 

2015

 

2014

Expected dividend yield

 

1.45%

 

1.53%

 

1.77%

Expected volatility

 

35.62%

 

40.32%

 

42.04%

Expected term

 

7.3 years

 

7.3 years

 

7.3 years

Risk-free interest rate

 

1.52%

 

1.96%

 

2.18%

 

Summary of Stock Option Activity

A summary of stock option activity for the year ended December 31, 2016 is presented below:

 

 

 

Shares

 

 

Weighted-

Average

Exercise Price

 

 

Weighted-

Average

Remaining

Contractual

Term

 

 

Aggregate

Intrinsic Value

($000)

 

Options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2016

 

 

507,084

 

 

$

36.57

 

 

 

 

 

 

 

 

 

Granted

 

 

103,709

 

 

 

44.03

 

 

 

 

 

 

 

 

 

Exercised

 

 

(167,675

)

 

 

23.95

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(6,992

)

 

 

45.36

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2016

 

 

436,126

 

 

 

42.99

 

 

 

5.80

 

 

$

16,785

 

Vested or expected to vest at December 31, 2016

 

 

432,181

 

 

 

42.68

 

 

 

5.86

 

 

 

13,022

 

Exercisable at December 31, 2016

 

 

258,093

 

 

 

43.12

 

 

 

3.82

 

 

 

9,900

 

 

Summary of Stock Award Activity

A summary of stock award activity for the year ended December 31, 2016, is presented below:

 

 

 

Shares

 

 

Weighted-Average

Grant

Date

Fair Value

 

Stock Awards

 

 

 

 

 

 

 

 

Unvested at January 1, 2016

 

 

208,503

 

 

$

46.55

 

Granted

 

 

142,242

 

 

 

41.81

 

Vested

 

 

(32,319

)

 

 

59.41

 

Forfeited

 

 

(61,660

)

 

 

53.05

 

Unvested at December 31, 2016

 

 

256,766

 

 

 

40.74

 

 

Summary of SARs Activity

The following is a summary of SARs activity for the year ended December 31, 2016:

 

 

 

Shares

 

 

Weighted-

Average

Exercise Price

 

 

Weighted-

Average

Remaining

Contractual

Term

 

 

Aggregate

Intrinsic Value

($000)

 

SARs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2016

 

 

389,955

 

 

$

50.30

 

 

 

 

 

 

 

 

 

Granted

 

 

215,288

 

 

 

43.95

 

 

 

 

 

 

 

 

 

Exercised

 

 

(27,596

)

 

 

54.17

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(24,065

)

 

 

34.58

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2016

 

 

553,582

 

 

 

47.81

 

 

 

7.94

 

 

$

18,642