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Share-Based Compensation Plans | 12 Months Ended
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Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share-Based Compensation Plans | SHARE-BASED COMPENSATION PLANS We have an incentive plan under which stock options, stock awards, stock units and other share-based compensation may be granted to officers, non-employee directors and key employees of the Company. Under the terms of this plan, 3,250,000 shares were authorized, and 1,658,295 shares are available for grant or issuance as of December 31, 2016. Any issuances under this plan are valued at the fair market value of the common stock on the grant date. The vesting and expiration of any stock option grants and the vesting schedule of any stock awards or stock units are determined by the Compensation and Personnel Committee of our Board of Directors at the time of the grant. Forfeitures are recognized as they occur. Additionally, we have outstanding stock options that were issued under other plans, and no further grants may be made under those plans. The following table summarizes activity regarding our stock options and awards of shares and stock units since December 31, 2013:
Stock Options |  | Restricted Stock Units
|  | Shares |  | Weighted Average Price |  |  |  | Shares |  | Weighted Average Price
Balance, December 31, 2013 |  | 1,310,697 |  |  | $ | 18.12 |  |  | Balance, December 31, 2013 |  | 610,803 |  |  | $ | 31.17 |
Granted |  | — |  |  | — |  |  | Granted |  | 176,418 |  |  | $ | 43.06 |
Expired |  | — |  |  | — |  |  | Forfeited |  | (500 | ) |  | $ | 43.76 |
Exercised |  | (743,923 | ) |  | $ | 13.52 |  |  | Vested |  | (152,423 | ) |  | $ | 32.46 |
Balance, December 31, 2014 |  | 566,774 |  |  | $ | 24.15 |  |  | Balance, December 31, 2014 |  | 634,298 |  |  | $ | 34.16 |
Granted |  | — |  |  | — |  |  | Granted |  | 241,274 |  |  | $ | 45.23 |
Expired |  | (30,000 | ) |  | $ | 12.09 |  |  | Forfeited |  | (3,587 | ) |  | $ | 29.56 |
Exercised |  | (230,048 | ) |  | $ | 26.71 |  |  | Vested |  | (266,497 | ) |  | $ | 32.17 |
Balance, December 31, 2015 |  | 306,726 |  |  | $ | 23.42 |  |  | Balance, December 31, 2015 |  | 605,488 |  |  | $ | 39.47 |
Granted |  | — |  |  | — |  |  | Granted |  | 191,936 |  |  | $ | 46.86 |
Expired |  | — |  |  | — |  |  | Forfeited |  | (965 | ) |  | $ | 43.13 |
Exercised |  | (163,726 | ) |  | $ | 23.73 |  |  | Vested |  | (304,171 | ) |  | $ | 35.29 |
Balance, December 31, 2016 |  | 143,000 |  |  | $ | 23.06 |  |  | Balance, December 31, 2016 |  | 492,288 |  |  | $ | 44.93 |
We recognized $8.9 million, $8.8 million and $8.1 million of compensation expense for stock units awarded to non-employee directors and employees pursuant to incentive plans for the years ended December 31, 2016, 2015 and 2014, respectively. We have $6.3 million of compensation expense, net of income taxes, which will be recognized over the remaining vesting periods of up to approximately three years. In addition, an aggregate of 92,877 restricted stock units granted to employees and non-employee directors vested as of December 31, 2016, but issuance has been deferred up to five years or upon retirement. All outstanding stock options were fully vested; therefore, no compensation expense was recognized for the years ended December 31, 2016, 2015 and 2014. As a result of stock option exercises, $0.7 million, $3.8 million and $6.9 million of proceeds were received during the years ended December 31, 2016, 2015 and 2014, respectively. The income tax benefit derived in 2016, 2015 and 2014 as a result of such exercises and share-based compensation was $6.2 million, $1.6 million and $8.6 million, respectively, of which $2.5 million , $1.7 million and $8.3 million, respectively, represented excess tax benefits. The total intrinsic value of options (the amounts by which the stock price exceeded the exercise price of the option on the date of exercise) that were exercised during 2016, 2015 and 2014 was $4.6 million, $4.6 million and $23.5 million, respectively. At December 31, 2016, 2015 and 2014, 143,000 options, 306,726 options and 566,774 options were exercisable, respectively. The weighted average exercise price of exercisable options at December 31, 2016, 2015 and 2014 was approximately $23.06, $23.42 and $24.15, respectively. The total aggregate intrinsic value of options outstanding and exercisable as of December 31, 2016, 2015 and 2014 were approximately $6.8 million, $7.6 million and $11.5 million, respectively. NOTE 13 - SHARE-BASED COMPENSATION PLANS - (Continued) The following table summarizes information about our outstanding stock options as of December 31, 2016:
Stock Options Outstanding and Exercisable
Range of Exercise Prices |  | Number |  | Weighted Average Remaining Life |  | Weighted Average Exercise Price
$20.42 - $24.48 |  | 143,000 |  | 2.40 Years |  | $23.06
We have an employee stock purchase plan. Under the terms of this plan, the maximum number of shares of our common stock that may be purchased is 3,000,000 shares. Generally, our corporate employees and non-union employees of our United States subsidiaries are eligible to participate in this plan. Employees covered by collective bargaining agreements generally are not eligible to participate in this plan.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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