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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2017
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, 2017, 2016 and 2015:

 

 

 

For the Years Ended December 31

 

 

2017

 

2016

 

2015

Expected dividend yield

 

1.39%

 

1.45%

 

1.53%

Expected volatility

 

30.01%

 

35.62%

 

40.32%

Expected term

 

7.2 years

 

7.3 years

 

7.3 years

Risk-free interest rate

 

2.22%

 

1.52%

 

1.96%

 

Summary of Stock Option Activity

A summary of stock option activity for the year ended December 31, 2017 is presented below:

 

 

 

Shares

 

 

Weighted-

Average

Exercise Price

 

 

Weighted-

Average

Remaining

Contractual

Term

 

 

Aggregate

Intrinsic Value

($000)

 

Options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2017

 

 

436,126

 

 

$

42.99

 

 

 

 

 

 

 

 

 

Granted

 

 

71,434

 

 

 

78.56

 

 

 

 

 

 

 

 

 

Exercised

 

 

(104,277

)

 

 

32.32

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(11,478

)

 

 

50.78

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2017

 

 

391,805

 

 

 

52.09

 

 

 

6.33

 

 

$

10,532

 

Vested or expected to vest at December 31, 2017

 

 

384,777

 

 

 

51.95

 

 

 

6.29

 

 

 

10,396

 

Exercisable at December 31, 2017

 

 

230,118

 

 

 

47.62

 

 

 

4.77

 

 

 

7,214

 

 

Summary of Stock Award Activity

A summary of stock award activity for the year ended December 31, 2017, is presented below:

 

 

 

Shares

 

 

Weighted-Average

Grant Date

Fair Value

 

Stock Awards

 

 

 

 

 

 

 

 

Unvested at January 1, 2017

 

 

256,766

 

 

$

40.74

 

Granted

 

 

40,171

 

 

 

75.94

 

Vested

 

 

(113,738

)

 

 

39.54

 

Forfeited

 

 

(14,166

)

 

 

45.93

 

Unvested at December 31, 2017

 

 

169,033

 

 

 

 

 

 

Summary of SARs Activity

The following is a summary of SARs activity for the year ended December 31, 2017:

 

 

 

Shares

 

 

Weighted-

Average

Exercise Price

 

 

Weighted-

Average

Remaining

Contractual

Term

 

 

Aggregate

Intrinsic Value

($000)

 

SARs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2017

 

 

553,582

 

 

$

47.81

 

 

 

 

 

 

 

 

 

Granted

 

 

148,723

 

 

 

78.73

 

 

 

 

 

 

 

 

 

Exercised

 

 

(73,739

)

 

 

44.67

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(11,916

)

 

 

68.95

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2017

 

 

616,650

 

 

 

55.23

 

 

 

7.46

 

 

$

14,640