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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Restricted Stock Activity | The following table is a summary of restricted stock award activity:
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
| Shares |  | Weighted- Average Grant Date Fair Value per Share |  | Shares |  | Weighted- Average Grant Date Fair Value per Share |  | Shares |  | Weighted- Average Grant Date Fair Value per Share
Outstanding at beginning of period | 49,825 |  |  | $ | 33.76 |  |  | 49,869 |  |  | $ | 33.40 |  |  | 27,806 |  |  | $ | 20.53 |
Granted | — |  |  | — |  |  | 5,900 |  |  | 25.44 |  |  | 47,500 |  |  | 34.76 |
Vested | (6,650 | ) |  | 33.02 |  |  | (5,944 | ) |  | 22.55 |  |  | (17,437 | ) |  | 15.84 |
Forfeited | — |  |  | — |  |  | — |  |  | — |  |  | (8,000 | ) |  | 35.00 |
Outstanding at end of period(1)(2) | 43,175 |  |  | $ | 33.87 |  |  | 49,825 |  |  | $ | 33.76 |  |  | 49,869 |  |  | $ | 33.40 |
_______________________________________________________________________________
(1) | As of December 31, 2016, the aggregate intrinsic value was $1.0 million and was calculated by multiplying the closing market price of the Company's stock on December 31, 2016 by the number of non-vested restricted stock awards outstanding.
(2) | As of December 31, 2016, the weighted average remaining contractual term of non-vested restricted stock awards outstanding was 0.3 years.
The following table is a summary of restricted stock unit activity:
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
| Shares |  | Weighted- Average Grant Date Fair Value per Share |  | Shares |  | Weighted- Average Grant Date Fair Value per Share |  | Shares |  | Weighted- Average Grant Date Fair Value per Share
Outstanding at beginning of period | 425,438 |  |  | $ | 13.81 |  |  | 604,214 |  |  | $ | 12.48 |  |  | 566,321 |  |  | $ | 10.75 |
Granted and fully vested | 69,302 |  |  | 20.62 |  |  | 51,292 |  |  | 27.87 |  |  | 37,893 |  |  | 38.28 |
Issued | (146,202 | ) |  | 14.17 |  |  | (230,068 | ) |  | 13.45 |  |  | — |  |  | — |
Forfeited | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Outstanding at end of period(1)(2) | 348,538 |  |  | $ | 15.01 |  |  | 425,438 |  |  | $ | 13.81 |  |  | 604,214 |  |  | $ | 12.48 |
_______________________________________________________________________________
(1) | As of December 31, 2016, the aggregate intrinsic value was $8.1 million and was calculated by multiplying the closing market price of the Company's stock on December 31, 2016 by the number of outstanding restricted stock units.
(2) | Due to the immediate vesting of the units and the unknown term of each director, the weighted-average remaining contractual term in years has not been provided.
Summary of SAR activity | The following table is a summary of SAR activity:
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
| Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price
Outstanding at beginning of period | 558,546 |  |  | $ | 12.52 |  |  | 667,764 |  |  | $ | 12.63 |  |  | 667,764 |  |  | $ | 12.63 |
Granted | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Exercised | (75,260 | ) |  | 9.19 |  |  | (109,218 | ) |  | 13.19 |  |  | — |  |  | — |
Forfeited or expired | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Outstanding at end of period(1) | 483,286 |  |  | $ | 13.04 |  |  | 558,546 |  |  | $ | 12.52 |  |  | 667,764 |  |  | $ | 12.63 |
Exercisable at end of period(2) | 483,286 |  |  | $ | 13.04 |  |  | 558,546 |  |  | $ | 12.52 |  |  | 590,960 |  |  | $ | 11.98 |
_______________________________________________________________________________
(1) | The intrinsic value of a SAR is the amount which the current market value of the underlying stock exceeds the exercise price of the SAR. As of December 31, 2016, the aggregate intrinsic value and weighted-average remaining contractual term of SARs outstanding was $5.0 million and 1.5 years, respectively.
(2) | As of December 31, 2016, the aggregate intrinsic value and weighted-average remaining contractual term of SARs exercisable was $5.0 million and 1.5 years, respectively.
Schedule of Performance Share Awards Activity | The following table is a summary of activity for the Hybrid Performance Share Awards:
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
| Shares |  | Weighted- Average Grant Date Fair Value per Share |  | Shares |  | Weighted- Average Grant Date Fair Value per Share |  | Shares |  | Weighted- Average Grant Date Fair Value per Share
Outstanding at beginning of period | 372,385 |  |  | $ | 30.37 |  |  | 329,061 |  |  | $ | 29.27 |  |  | 450,212 |  |  | $ | 18.96 |
Granted | 271,938 |  |  | 20.49 |  |  | 194,947 |  |  | 27.71 |  |  | 123,257 |  |  | 39.43 |
Issued and fully vested | (164,539 | ) |  | 29.34 |  |  | (151,623 | ) |  | 24.56 |  |  | (244,408 | ) |  | 15.41 |
Forfeited | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Outstanding at end of period | 479,784 |  |  | $ | 25.12 |  |  | 372,385 |  |  | $ | 30.37 |  |  | 329,061 |  |  | $ | 29.27 |
The following table is a summary of activity for Employee Performance Share Awards:
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
| Shares |  | Weighted- Average Grant Date Fair Value per Share |  | Shares |  | Weighted- Average Grant Date Fair Value per Share |  | Shares |  | Weighted- Average Grant Date Fair Value per Share
Outstanding at beginning of period | 925,590 |  |  | $ | 30.23 |  |  | 1,088,960 |  |  | $ | 25.18 |  |  | 1,657,980 |  |  | $ | 16.25 |
Granted | 435,990 |  |  | 20.49 |  |  | 349,780 |  |  | 27.71 |  |  | 241,130 |  |  | 39.43 |
Issued and fully vested | (340,960 | ) |  | 26.62 |  |  | (504,620 | ) |  | 17.59 |  |  | (751,780 | ) |  | 10.19 |
Forfeited | (27,090 | ) |  | 27.77 |  |  | (8,530 | ) |  | 31.11 |  |  | (58,370 | ) |  | 23.57 |
Outstanding at end of period | 993,530 |  |  | $ | 27.26 |  |  | 925,590 |  |  | $ | 30.23 |  |  | 1,088,960 |  |  | $ | 25.18 |
The following table is a summary of activity for the TSR Performance Share Awards:
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
| Shares |  | Weighted- Average Grant Date Fair Value per Share(1) |  | Shares |  | Weighted- Average Grant Date Fair Value per Share(1) |  | Shares |  | Weighted- Average Grant Date Fair Value per Share(1)
Outstanding at beginning of period | 732,286 |  |  | $ | 23.82 |  |  | 674,787 |  |  | $ | 22.42 |  |  | 860,686 |  |  | $ | 14.06 |
Granted | 407,907 |  |  | 18.57 |  |  | 292,421 |  |  | 19.29 |  |  | 184,885 |  |  | 32.04 |
Issued and fully vested | (254,980 | ) |  | 23.06 |  |  | (234,922 | ) |  | 14.16 |  |  | (370,784 | ) |  | 7.81 |
Forfeited | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Outstanding at end of period | 885,213 |  |  | $ | 21.62 |  |  | 732,286 |  |  | $ | 23.82 |  |  | 674,787 |  |  | $ | 22.42 |
_______________________________________________________________________________ (1) The grant date fair value figures in this table represent the fair value of the equity component of the performance share awards.
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | The following assumptions were used to determine the grant date fair value of the equity component of the TSR Performance Share Awards for the respective periods:
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
Fair value per performance share award granted during the period | $ | 18.57 |  |  | $ | 19.29 |  |  | $ | 32.04 |
Assumptions |  |  |  |  |  |  |  |
Stock price volatility | 34.4 | % |  | 32.3 | % |  | 41.3 | %
Risk free rate of return | 0.9 | % |  | 1.0 | % |  | 0.7 | %
Expected dividend yield | — | % |  | 0.3 | % |  | 0.2 | %
The following assumptions were used to determine the fair value of the liability component of the TSR Performance Share Awards for the respective periods:
| December 31,
| 2016 |  | 2015 |  | 2014
Fair value per performance share award at the end of the period | $5.59 - $7.10 |  | $2.49 - $6.39 |  | $12.88 - $29.72
Assumptions |  |  |  |  |
Stock price volatility | 40.4% - 43.0% |  | 33.5% - 37.5% |  | 29.1% - 29.7%
Risk free rate of return | 0.9% - 1.2% |  | 0.7% - 1.1% |  | 0.3% - 0.7%
Expected dividend yield | —% |  | —% |  | 0.3%

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- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + References Reference 1: 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 2: 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 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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