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Note 20 - Incentive Plans | 12 Months Ended
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Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 20. Incentive Plans: The Company accounts for equity awards in accordance with FASB’s Compensation – Stock Compensation guidance which requires that all share based payments to employees, including grants of employee stock options, restricted stock and performance shares, be recognized in the Statement of Income over the service period based on their fair values. Fair value is determined, depending on the type of award, using either the Black-Scholes option pricing formula or the Monte Carlo method for performance shares, both of which are intended to estimate the fair value of the awards at the grant date. Fair value of restricted shares is calculated based on the price on the date of grant. The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing formula. The assumption for expected volatility has a significant effect on the grant date fair value. Volatility is determined based on the historical equity of common stock for the most recent historical period equal to the expected term of the options plus an implied volatility measure. The expected term is determined using the simplified method due to the lack of exercise and cancelation history for the current vesting terms. During 2014, the Company did not grant any stock options. The more significant assumptions underlying the determination of fair values for options granted during 2013 and 2012 were as follows:
|  | Year Ended December 31, |
|  | 201 3 |  |  | 2012 |  |
Weighted average fair value of options granted |  | $ | 5.04 |  |  | $ | 4.52 |  |
Weighted average risk-free interest rates |  |  | 1.46 | % |  |  | 1.04 | % |
Weighted average expected option lives (in years) |  |  | 6.25 |  |  |  | 6.25 |  |
Weighted average expected volatility |  |  | 35.95 | % |  |  | 37.53 | % |
Weighted average expected dividend yield |  |  | 3.85 | % |  |  | 3.94 | % |
Information with respect to stock options under the Plan for the years ended December 31, 2014, 2013, and 2012 are as follows:
|  | Shares |  |  | Weighted- Average Exercise Price Per Share |  |  | Aggregate Intrinsic V alue (in millions) |
Options outstanding, January 1, 2012 |  |  | 17,110,592 |  |  | $ | 28.14 |  |  | $ | 8.0 |
Exercised |  |  | (1,495,432 | ) |  | $ | 19.84 |  |  |  |  |
Granted |  |  | 1,522,450 |  |  | $ | 18.78 |  |  |  |  |
Forfeited |  |  | (579,613 | ) |  | $ | 28.73 |  |  |  |  |
Options outstanding, December 31, 2012 |  |  | 16,557,997 |  |  | $ | 28.42 |  |  | $ | 14.9 |
Exercised |  |  | (1,636,300 | ) |  | $ | 23.15 |  |  |  |  |
Granted |  |  | 1,354,250 |  |  | $ | 21.55 |  |  |  |  |
Forfeited |  |  | (901,802 | ) |  | $ | 31.38 |  |  |  |  |
Options outstanding, December 31, 2013 |  |  | 15,374,145 |  |  | $ | 28.79 |  |  | $ | 13.1 |
Exercised |  |  | (1,474,432 | ) |  | $ | 16.19 |  |  |  |  |
Forfeited |  |  | (2,005,952 | ) |  | $ | 28.68 |  |  |  |  |
Options outstanding, December 31, 2014 |  |  | 11,893,761 |  |  | $ | 30.23 |  |  | $ | 29.8 |
Options exercisable (fully vested)- |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2012 |  |  | 12,830,255 |  |  | $ | 31.57 |  |  | $ | 7.7 |
December 31, 2013 |  |  | 12,039,439 |  |  | $ | 31.24 |  |  | $ | 8.2 |
December 31, 2014 |  |  | 10,159,570 |  |  | $ | 31.96 |  |  | $ | 19.9 |
The exercise prices for options outstanding as of December 31, 2014, range from $11.54 to $53.14 per share. The Company estimates forfeitures based on historical data. The weighted-average remaining contractual life for options outstanding as of December 31, 2014, was 3.9 years. The weighted-average remaining contractual term of options currently exercisable as of December 31, 2014, was 3.4 years. Options to purchase 9,251,021, 8,049,534 and 8,871,495, shares of the Company’s common stock were available for issuance under the Plan at December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014, the Company had 1,734,191 options expected to vest, with a weighted-average exercise price per share of $20.11 and an aggregate intrinsic value of $9.9 million. Cash received from options exercised under the Plan was $23.9 million, $30.2 million and $22.6 million for the years ended December 31, 2014, 2013 and 2012, respectively. The total intrinsic value of options exercised during 2014, 2013 and 2012, was $9.4 million, $7.6 million, and $7.0 million, respectively. As of December 31, 2014, 2013 and 2012, the Company had restricted shares outstanding of 1,911,145, 1,591,082 and 1,562,912, respectively. Information with respect to restricted stock under the Plan for the years ended December 31, 2014, 2013, and 2012 are as follows:
|  | 2014 |  |  | 2013 |  |  | 2012 |
Restricted stock outstanding as of January 1, |  |  | 1,591,082 |  |  |  | 1,562,912 |  |  |  | 832,726 |
Granted |  |  | 804,465 |  |  |  | 549,263 |  |  |  | 1,093,423 |
Vested |  |  | (418,309 | ) |  |  | (430,378 | ) |  |  | (357,987 | )
Forfeited |  |  | (66,093 | ) |  |  | (90,715 | ) |  |  | (5,250 | )
Restricted stock outstanding as of December 31, |  |  | 1,911,145 |  |  |  | 1,591,082 |  |  |  | 1,562,912 |
As of December 31, 2014, 2013 and 2012, the Company had performance share awards outstanding of 171,400, 185,200 and 197,700, respectively. The more significant assumptions underlying the determination of fair values for these awards granted during 2014, 2013 and 2012 were as follows:
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Stock price |  | $ | 21.49 |  |  | $ | 21.54 |  |  | $ | 18.78 |
Dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Risk-free rate |  |  | 0.65 | % |  |  | 0.14 | % |  |  | 0.16 | %
Volatility |  |  | 25.93 | % |  |  | 16.90 | % |  |  | 38.31 | %
Term of the award (years) |  |  | 0.88, 1.88, 2.88 |  |  |  | 0.88 |  |  |  | 0.87 |
The Company recognized expense associated with its equity awards of $17.9 million, $18.9 million and $17.9 million, for the years ended December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014, the Company had $25.7 million of total unrecognized compensation cost related to unvested stock compensation granted under the Plans. That cost is expected to be recognized over a weighted average period of 3.0 years. The Company maintains a 401(k) retirement plan covering substantially all officers and employees, which permits participants to defer up to the maximum allowable amount determined by the Internal Revenue Service of their eligible compensation. This deferred compensation, together with Company matching contributions, which generally equal employee deferrals up to a maximum of 5% of their eligible compensation (capped at $170,000 per the plan), is fully vested and funded as of December 31, 2014. The Company’s contributions to the plan were $2.2 million, $2.1 million, and $2.1 million for the years ended December 31, 2014, 2013 and 2012, respectively. The Company recognized severance costs associated with employee terminations during the years ended December 31, 2014, 2013 and 2012 of $6.3 million, $4.3 million and $5.8 million, respectively.

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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 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: 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 3: 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=6406099&loc=d3e25284-112666 Reference 4: 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=6418621&loc=d3e17540-113929 Reference 5: 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 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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