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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2019
Summary of Activity Under Stock Plan

The fair value of SARs granted under the Equity Plan (or its predecessor) during each of the years ended December 31, 2019, 2018 and 2017 was estimated using the Black Scholes pricing model with the following weighted average assumptions:

 

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Expected life of SARs (in years)

 

 

7

 

 

 

7

 

 

 

7

 

Expected volatility

 

 

39.35

%

 

 

32.10

%

 

 

31.70

%

Risk free interest rate

 

 

2.11

%

 

 

2.56

%

 

 

2.09

%

 

Weighted Average Assumptions Used in Estimating Fair Value of Options and SARs

A summary of SARs activity under the Equity Plan as of December 31, 2019 and changes during the year then ended is as follows:

 

 

 

Number of

Awards

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual

Term

(Years)

 

 

Aggregate

Intrinsic

Value

(In

Thousands)

 

Awards outstanding at January 1, 2019

 

 

1,029,082

 

 

$

54.08

 

 

 

 

 

 

 

 

 

Granted

 

 

28,000

 

 

$

8.57

 

 

 

 

 

 

 

 

 

Expired

 

 

(134,852

)

 

$

71.46

 

 

 

 

 

 

 

 

 

Awards outstanding at December 31, 2019

 

 

922,230

 

 

$

50.19

 

 

 

3.6

 

 

$

 

Awards exercisable at December 31, 2019

 

 

922,230

 

 

$

50.19

 

 

 

3.6

 

 

$

 

Time-vesting RSUs [Member]  
Summary of Restricted Stock Units Awarded Under Equity Plan

A summary of activity for time-vesting RSUs under the Equity Plan as of December 31, 2019 and changes during the year then ended is as follows:

 

 

 

Number

of Awards

 

 

Weighted

-Average

Grant Date

Fair Value

Per Share

 

Nonvested awards at January 1, 2019

 

 

422,059

 

 

$

16.57

 

Granted

 

 

310,700

 

 

$

10.47

 

Vested

 

 

(174,774

)

 

$

18.20

 

Forfeited

 

 

(24,382

)

 

$

13.42

 

Nonvested awards at December 31, 2019

 

 

533,603

 

 

$

12.58

 

Performance-Vesting RSUs [Member]  
Summary of Restricted Stock Units Awarded Under Equity Plan

A summary of activity for performance-vesting RSUs under the Equity Plan as of December 31, 2019 and changes during the year then ended is as follows:

 

 

 

Number

of Awards

 

 

Weighted

-Average

Grant Date

Fair Value

Per Share

 

Nonvested awards at January 1, 2019

 

 

741,973

 

 

$

17.53

 

Granted

 

 

190,634

 

 

$

10.49

 

Vested

 

 

(223,330

)

 

$

21.44

 

Nonvested awards at December 31, 2019

 

 

709,277

 

 

$

14.41