XML 34 R24.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Stock-Based Compensation Plans (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of information with respect to stock options granted | Information with respect to stock options granted under the Company's 1994 Stock Option and Incentive Plan (the "1994 Plan") and its Second Amended and Restated 2009 Equity Incentive Plan (the "2009 Plan") for the nine months ended September 30, 2018, is as follows:
|  | 2009 Plan shares |  | Weighted average exercise price per share |  | 1994 Plan shares |  | Weighted average exercise price per share
Options Outstanding, December 31, 2017 |  | 149,973 |  |  | $ | 126.77 |  |  | 7,778 |  |  | $ | 48.60 |
Exercised |  | (3,000 | ) |  | 130.23 |  |  | (2,263 | ) |  | 48.60 |
Granted (1) |  | 6,995 |  |  | 161.10 |  |  | — |  |  | — |
Forfeited |  | — |  |  | — |  |  | — |  |  | — |
Options Outstanding, September 30, 2018 |  | 153,968 |  |  | $ | 128.26 |  |  | 5,515 |  |  | $ | 48.60 |
Options Exercisable, September 30, 2018 |  | 146,973 |  |  | $ | 126.70 |  |  | 5,515 |  |  | $ | 48.60 |
__________________________________
(1) | Options granted during the nine months ended September 30, 2018 are a result of recipient elections to receive a portion of earned performance awards and time-vesting restricted stock in the form of stock options.
Schedule of nonvested performance awards granted | Information with respect to performance awards granted is as follows:
|  | Performance awards |  | Weighted average grant date fair value per award
Outstanding at December 31, 2017 |  | 251,770 |  |  | $ | 155.25 |
Granted (1) |  | 100,965 |  |  | 155.31 |
Change in awards based on performance (2) |  | 5,990 |  |  | 148.79 |
Converted to restricted stock or options |  | (88,477 | ) |  | 148.79 |
Forfeited |  | (2,309 | ) |  | 158.52 |
Outstanding at September 30, 2018 |  | 267,939 |  |  | $ | 157.23 |
__________________________________
(1) | The amount of restricted stock that ultimately may be earned is based on the total shareholder return metrics related to the Company's common stock for 62,043 performance awards and financial metrics related to operating performance and leverage metrics of the Company for 38,922 performance awards.
(2) | Represents the change in the number of performance awards earned based on actual performance achievement for the performance period.
Summary of valuation options | The Company used a Monte Carlo model to assess the compensation cost associated with the portion of the performance awards granted in 2018 for which achievement will be determined by using total shareholder return measures. The assumptions used are as follows:
|  | 2018
Dividend yield |  | 3.7%
Estimated volatility over the life of the plan (1) |  | 11.8% - 18.7%
Risk free rate |  | 1.86% - 2.46%
Estimated performance award value based on total shareholder return measure |  | $151.67
__________________________________
(1) | Estimated volatility over the life of the plan is using 50% historical volatility and 50% implied volatility.
Schedule of restricted stock granted | Information with respect to restricted stock granted is as follows:
|  | Restricted stock shares |  | Restricted stock shares weighted average grant date fair value per share |  | Restricted stock shares converted from performance awards
Outstanding at December 31, 2017 |  | 133,633 |  |  | $ | 172.33 |  |  | 233,928 |
Granted - restricted stock shares |  | 98,713 |  |  | 161.58 |  |  | 88,297 |
Vested - restricted stock shares |  | (66,764 | ) |  | 171.31 |  |  | (112,230 | )
Forfeited |  | (3,865 | ) |  | 166.70 |  |  | (757 | )
Outstanding at September 30, 2018 |  | 161,717 |  |  | $ | 166.32 |  |  | 209,238 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in restricted stock units (RSUs). + References No definition available. + Details
Name: | us-gaap_ScheduleOfUnvestedRestrictedStockUnitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration