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Shareholders' equity (Tables) | 3 Months Ended
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Mar. 31, 2015
Shareholders' equity. |
Summary of Stock Option Activity under Plan |
|  | Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Life (in years) |  | Aggregate Intrinsic Value (1) (in thousands) |
Options outstanding at January 1, 2014 |  | 1,190,000 |  | $ | 15.48 |  | 9.3 |  | $ | 862 |
Granted |  | 970,000 |  | 16.63 |  |  |  |  |
Exercised |  | — |  | — |  |  |  |  |
Forfeited |  | (41,250 | ) | 16.18 |  |  |  |  |
Options outstanding at March 31, 2014 |  | 2,118,750 |  | $ | 15.99 |  | 9.4 |  | $ | 1,532 |
Options exercisable at March 31, 2014 |  | 160,000 |  | $ | 15.00 |  | 8.5 |  | $ | 274 |
Options outstanding at January 1, 2015 |  | 2,165,000 |  | $ | 16.17 |  | 8.8 |  | $ | 1,890 |
Granted |  | 553,500 |  | 16.48 |  |  |  |  |
Exercised |  | — |  | — |  |  |  |  |
Forfeited |  | (110,500 | ) | 16.57 |  |  |  |  |
Options outstanding at March 31, 2015 |  | 2,608,000 |  | $ | 16.22 |  | 8.7 |  | $ | 1,064 |
Options exercisable at March 31, 2015 |  | 597,500 |  | $ | 15.80 |  | 7.8 |  | $ | 466 |
| (1) |  | Intrinsic value for activities other than exercises is defined as the difference between the grant price and the market value on the last trading day of the period for those stock options where the market value is greater than the exercise price. For exercises, intrinsic value is defined as the difference between the grant price and the market value on the date of exercise.
Summary of Black-Scholes Option Pricing Model Inputs used for Valuation of Stock Options Outstanding |
|  | 2015 |  | 2014 |
Weighted-average fair value |  | $ | 4.57 |  | $ | 5.01 |
Expected term (years) |  | 7.0 |  | 7.0 |
Dividend yield |  | 3.0 | % | 3.0 | %
Volatility |  | 36.0 | % | 38.5 | %
Risk-free interest rate |  | 1.9 | % | 2.2 | %
Summary of restricted stock units activity under Plan |
|  | 2015 |  | 2014 |
Restricted stock units at beginning of period |  | 85,000 |  | — |
Units awarded |  | 42,000 |  | 92,000 |
Units vested |  | (21,250 | ) | — |
Units forfeited |  | (6,000 | ) | (2,000 | )
Restricted stock units at end of the period |  | 99,750 |  | 90,000 |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited 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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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units 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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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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