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Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes information about the Company’s stock option awards during 2017:



	Number of Shares		Weighted-Average Exercise Price
Outstanding, January 1, 2017	589,160		$	28.67
Granted	131,416		47.80
Exercised	(84,393	)	23.28
Forfeited	(17,403	)	39.82
Outstanding, December 31, 2017	618,780		33.15

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding at December 31, 2017:



	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number of Shares	Average Remaining Life (Years)	Average Exercise Price		Number of Shares	Average Exercise Price
$11.45 to $15.83	67,130	1.5	$	13.43	67,130	$	13.43
$20.69 to $26.32	77,955	4.2	23.56		77,955	23.56
$26.38 to $30.71	146,828	7.5	30.26		58,173	29.58
$34.92 to $37.13	195,005	6.9	36.40		142,844	36.59
$38.93 to $63.38	131,862	9.0	47.28		5,750	38.96

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of each stock option grant on the date of grant was estimated using the Black-Scholes option-pricing model based on the following weighted average assumptions:



	2017		2016		2015
Risk-free interest rate	1.90	%	1.20	%	1.58	%
Expected life (years)	5.3		5.3		5.3
Expected volatility	26.1	%	29.1	%	31.1	%
Expected dividend yield	1.82	%	1.94	%	2.06	%

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable

The following table summarizes information about stock options outstanding that are expected to vest and stock options outstanding that are exercisable at December 31, 2017:



Options Outstanding, Expected to Vest						Options Outstanding, Exercisable
Shares	Weighted- Average Exercise Price		Aggregate Intrinsic Value		Weighted- Average Remaining Term (Years)	Shares	Weighted- Average Exercise Price		Aggregate Intrinsic Value		Weighted- Average Remaining Term (Years)
598,986	$	33.15	$	18,041	6.58	351,852	$	28.16	$	12,352	5.16

Schedule of Share-based Compensation, Restricted Stock Units, Activity

The following table summarizes information about the Company’s Rights during 2017:



	Service Based Rights				Service and Performance Based Rights				Service and Market Based Rights
	Number of Units		Weighted-Average Grant Date Fair Value		Number of Units		Weighted-Average Grant Date Fair Value		Number of Units		Weighted-Average Grant Date Fair Value
Outstanding, January 1, 2017	347,304		$	31.86	172,042		$	34.74	116,746		$	52.24
Granted	122,696		50.30		43,506		47.69		43,506		74.20
Forfeited	(14,573	)	37.77		(4,660	)	57.83		(4,363	)	43.39
Additional Earned	—		—		18,370		37.00		3,946		50.45
Issued	(144,903	)	57.80		(73,364	)	37.00		(31,443	)	50.45
Outstanding, December 31, 2017	310,524				155,894				128,392