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SHARE-BASED COMPENSATION AND BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2016
Summary of Stock Option Activity

The following is a summary of stock option activity under the 2014 Plan and the 2001 Plan as of and for the year ended December 31, 2016:

 

     Options      Weighted-
Average
Exercise
Price
     Weighted-
Average
Remaining
Contractual
Term

(in years)
     Aggregate
Intrinsic
Value
 

Options outstanding at December 31, 2015

     257,334       $ 102.96         

Granted

     107,000         140.41         

Exercised

     (63,084      71.18         

Forfeited

     (7,000      127.56         
  

 

 

    

 

 

       

Options outstanding at December 31, 2016

     294,250       $ 122.80         3.56       $ 7,451   
  

 

 

    

 

 

    

 

 

    

 

 

 

Options exercisable at December 31, 2016

     24,419       $ 109.81         2.92       $ 935   
  

 

 

    

 

 

    

 

 

    

 

 

 
Summary of Non-Vested Restricted Stock Activity

The following is a summary of non-vested restricted stock activity as of and for the year ended December 31, 2016:

 

     Shares      Weighted-
Average
Grant Date
Fair Value
 

Non-vested restricted stock outstanding at December 31, 2015

     2,819,196       $ 49.99   

Granted

     183,144         130.01   

Vested

     (77,450      63.26   

Forfeited

     (26,000      112.79   
  

 

 

    

 

 

 

Non-vested restricted stock outstanding at December 31, 2016

     2,898,890       $ 54.13   
  

 

 

    

 

 

 
Valuation Assumptions Used for Stock Option Awards

The following table presents the weighted-average assumptions used for stock options granted:

 

Years Ended December 31,

   2016     2015     2014  

Expected term in years

     4.25        4.25        4.25   

Risk-free interest rate

     1.24     1.25     1.35

Expected volatility

     18.65     20.96     22.07

Expected dividend yield

     2.54     2.29     1.69

Grant date fair value

   $ 16.37      $ 17.17      $ 15.75   
Share-Based Compensation Expense

The following table provides information on share-based compensation expense:

 

Years Ended December 31,

   2016      2015      2014  

Stock options

   $ 1,149       $ 952       $ 801   

Non-vested restricted stock

     11,170         11,644         10,672   
  

 

 

    

 

 

    

 

 

 

Share-based compensation expense

   $ 12,319       $ 12,596       $ 11,473