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Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2015
Summary of the option activity | A summary of the stock option activity during 2015 is presented in the following table (dollars and shares in thousands, except per share amounts):
|  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  | Weighted |  | Average |  |  |  |
|  |  |  | Average |  | Remaining |  | Aggregate |
|  | Shares |  | Exercise |  | Contractual |  | Intrinsic |
|  | Under Options |  | Price |  | Term (Years) |  | Value |
Outstanding as of January 1, 2015 |  | 2,587 |  | $ | 37.00 |  | 5.0 |  | $ | 19,581 |
Exercised |  | (823) |  |  | 33.52 |  |  |  |  |  |
Cancelled |  | (2) |  |  | 42.69 |  |  |  |  |  |
Forfeited |  | (24) |  |  | 41.25 |  |  |  |  |  |
Outstanding as of December 31, 2015 |  | 1,738 |  |  | 38.58 |  | 4.4 |  |  | 4,521 |
Exercisable as of December 31, 2015 |  | 1,368 |  |  | 37.88 |  | 3.5 |  |  | 4,521 |
Summary additional information concerning outstanding and exercisable stock options | The following table summarizes additional information concerning outstanding and exercisable stock options at December 31, 2015 (shares in thousands):
|  |  |  |  |  |  |  |  | Currently Exercisable |
|  |  |  |  |  |  | Weighted |  |  |  |  |  |
|  |  |  | Weighted |  | Average |  |  |  | Weighted |
|  |  |  | Average |  | Remaining |  |  |  | Average |
Range of |  | Shares Under |  | Exercise |  | Contractual |  | Shares Under |  | Exercise |
Exercise Price |  | Options |  | Price |  | Term (Years) |  | Options |  | Price |
$23.34 - $25.52 |  | 166 |  | $ | 23.34 |  | 2.1 |  | 166 |  | $ | 23.34 |
27.11 - 28.35 |  | 156 |  |  | 28.35 |  | 2.8 |  | 156 |  |  | 28.35 |
31.95 - 46.92 |  | 1,416 |  |  | 41.72 |  | 4.8 |  | 1,046 |  |  | 41.60 |
|  | 1,738 |  |  | 38.58 |  |  |  | 1,368 |  |  | 37.88 |
Summary of additional information concerning unvested stock options | The following table summarizes additional information concerning unvested stock options at December 31, 2015 (shares in thousands):
|  |  |  | Weighted |
|  | Shares |  | Average |
|  | Under |  | Grant Date Fair |
|  | Options |  | Value |
Unvested at January 1, 2015 |  | 906 |  | $ | 4.85 |
Vested |  | (512) |  |  | 5.06 |
Forfeited |  | (24) |  |  | 4.58 |
Unvested at December 31, 2015 |  | 370 |  |  | 4.59 |
Summary of additional information concerning restricted stock and restricted stock units | The following table summarizes additional information concerning restricted stock and performance restricted stock units at December 31, 2015 (units and shares in thousands):
|  |  |  | Weighted |  |  |  | Weighted |
|  | Restricted |  | Average |  |  |  | Average |
|  | Stock |  | Grant Date |  | Restricted |  | Grant Date |
|  | Units |  | Fair Value |  | Shares |  | Fair Value |
Unvested at January 1, 2015 |  | 900 |  | $ | 40.54 |  | 112 |  | $ | 38.69 |
Granted |  | 402 |  |  | 48.56 |  | — |  |  | — |
Vested |  | (409) |  |  | 44.79 |  | (76) |  |  | 37.26 |
Forfeited |  | (26) |  |  | 43.74 |  | — |  |  | — |
Unvested at December 31, 2015 |  | 867 |  |  | 43.34 |  | 36 |  |  | 41.77 |
Common Stock Options |
Assumptions used for estimating fair value of stock options using Black-Scholes option valuation model |
|  | 2014 |  | 2013 |
Risk-free rate |  | 1.34 | % | 0.78 | %
Expected life (in years) |  | 4.5 |  | 4.5 |
Expected volatility |  | 22.9 | % | 28.9 | %
Expected dividend yield |  | 5.4 | % | 5.8 | %
Restricted Stock and Performance Restricted Stock Units |
Assumptions used for estimating fair value of stock options using Black-Scholes option valuation model |
|  | 2015 |  | 2014 |
Expected volatility |  | 17.94 | % | 21.74 | %
Risk-free rate |  | 0.33 | % | 0.22 | %
Expected dividend yield |  | 4.79 | % | 5.61 | %

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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + 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 + 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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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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