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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Stock Option Activity
The following table summarizes stock option activity under our share-based plans for the year ended December 31, 2014:

 
 
Shares
 
Weighted Average
Exercise Price
 
Weighted Average
Remaining
Contractual Term
(Years)
 
Aggregate
Intrinsic Value
Balance at December 31, 2013
 
3,393,281

 
$
27.74

 
 
 
 
Granted
 
170,725

 
58.24

 
 
 
 

Less: Exercised
 
441,833

 
28.18

 
 
 
 

           Forfeited
 
10,075

 
30.64

 
 
 
 

Balance at December 31, 2014
 
3,112,098

 
$
29.35

 
4.71
 
$
106,104,660

 
 
 
 
 
 
 
 
 
Exercisable at December 31, 2014
 
1,994,947

 
$
25.51

 
3.40
 
$
75,666,879

Stock options outstanding and exercisable by exercise price range
The following table presents information about stock options outstanding and exercisable at December 31, 2014:

 
 
Outstanding
Stock Options
 
Exercisable
Stock Options
Range of exercise prices
 
Shares
 
Weighted Average
Remaining
Contractual Term
(Years)
 
Weighted Average Exercise Price
 
Shares
 
Weighted Average Exercise Price
$ 18.00 to $ 20.34
 
1,349,786

 
4.19
 
$
19.68

 
1,109,461

 
$
19.55

$ 20.35 to $ 37.85
 
1,083,067

 
4.83
 
30.91

 
610,916

 
30.35

$ 37.86 to $ 58.26
 
679,245

 
5.56
 
46.05

 
274,570

 
38.84

 
 
3,112,098

 
4.71
 
$
29.35

 
1,994,947

 
$
25.51

Summary of cash proceeds and tax benefits realized from stock option exercise.
The following table summarizes the cash proceeds and tax benefits realized from the exercise of stock options:

 
 
Year Ended December 31,
(in thousands, except share amounts)
 
2014
 
2013
 
2012
Options exercised
 
441,833

 
780,485

 
986,110

Cash proceeds
 
$
12,451

 
$
20,323

 
$
19,221

Intrinsic value of options exercised
 
$
13,132

 
$
19,273

 
$
19,383

Tax benefits realized
 
$
5,018

 
$
7,364

 
$
7,418

Summary of assumptions for estimated fair value of employee stock option awards at grant date
We estimated the fair value of employee stock option awards at the grant date based on the assumptions summarized in the following table:
 
 
 
Year Ended December 31,
(Weighted average)
 
2014
 
2013
 
2012
Expected volatility
 
37.7
%
 
 
38.7
%
 
 
38.6
%
 
Expected term
 
7.2

years
 
7.5

years
 
7.6

years
Risk-free interest rate
 
2.26
%
 
 
1.51
%
 
 
1.61
%
 
Expected dividend yield
 
1.5
%
 
 
1.5
%
 
 
2.0
%
 
Grant date fair value
 
$
21.07

 
 
$
16.42

 
 
$
12.66

 
Summary of restricted share actvity
The table below presents restricted stock awards activity under our share-based plans for the year ended December 31, 2014:

 
 
Shares
 
Weighted Average
Grant Date Fair Value
Balance unvested at December 31, 2013
 
490,264

 
$
26.98

Granted (at market price)
 
92,619

 
58.18

Less: Vested
 
212,794

 
22.46

Forfeited
 
4,230

 
31.22

Balance unvested at December 31, 2014
 
365,859

 
$
37.47

Total restricted stock awards that vested for the past three years and related fair value
The table below presents the total number of restricted stock awards that vested for the past three years and the related fair value of those awards (in thousands, except share amounts):

 
 
2014
 
2013
 
2012
Shares vested
 
212,794

 
102,536

 
69,580

Fair value of restricted stock awards vested
 
$
12,354

 
$
4,544

 
$
2,338

Number of shares purchased by employees under the employee stock purchase plan
For the two six month offering periods in each year presented below, our employees purchased the following aggregate number of shares:

2014
 
2013
 
2012
22,508

 
26,644

 
31,275

Restricted [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of share-based compensation expense and recognized tax benefits [Table Text Block]
The following table presents the total share-based compensation expense for restricted stock awards for the past three years (in thousands):

 
 
2014
 
2013
 
2012
Share-based compensation expense
 
$
5,203

 
$
4,103

 
$
3,873

Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of share-based compensation expense and recognized tax benefits [Table Text Block]
The following table presents the total share-based compensation expense for stock option awards and the related recognized tax benefits for the past three years (in thousands):

 
 
2014
 
2013
 
2012
Share-based compensation expense
 
$
3,632

 
$
3,746

 
$
4,304

Recognized tax benefits
 
1,388

 
1,431

 
1,647