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Share-based Compensation and Non-Qualified Deferred Compensation Plan (Tables)
6 Months Ended
Jun. 30, 2018
Share-based Compensation [Abstract]  
Schedule of Share Based Compensation Shares Authorized Under Stock Option Plans By Exercise Price Range And Intrinsic Value
The following table summarizes outstanding share options, all of which were exercisable, at June 30, 2018:
 
 
Options Outstanding and Exercisable (1)
Range of Exercise Prices
 
Number
 
Weighted
Average Price
$75.17
 
15,388

 
$
75.17

$78.55
 
9,994

 
78.55

$80.89 - $85.05
 
27,476

 
82.84

Total options
 
52,858

 
$
79.79

 

(1)
The aggregate intrinsic value of options outstanding and exercisable at June 30, 2018 was $0.6 million. The aggregate intrinsic value was calculated as the excess, if any, between our closing share price of $91.13 per share on June 30, 2018 and the strike price of the underlying award.

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The following assumptions were used for the reload options granted during the six months ended June 30, 2018:
 
Six Months Ended
June 30, 2018
Weighted average fair value of options granted
4.11
Expected volatility
15.1%
Risk-free interest rate
2.0%
Expected dividend yield
3.3%
Expected life
1 year
Summary of Share Incentive Plans
The following table summarizes activity under our share incentive plans for the six months ended June 30, 2018:
 
 
Options
Outstanding
 
Weighted
Average
Exercise /
Grant Price
 
Nonvested
Share
Awards
Outstanding
 
Weighted
Average
Exercise /  Grant Price
Options and nonvested share awards outstanding at December 31, 2017
68,978

 
$
61.15

 
499,898

 
$
75.80

Granted
9,994

 
78.55

 
230,353

 
82.73

Exercised/Vested
(26,114
)
 
30.06

 
(315,789
)
 
75.65

Forfeited

 

 
(13,478
)
 
79.26

Total options and nonvested share awards outstanding at June 30, 2018
52,858

 
$
79.79

 
400,984

 
$
79.77

Summary of non-qualified deferred compensation share award activity
The following table summarizes the eligible share award activity for the six months ended June 30, 2018:
(in thousands)
 
Six Months Ended
June 30, 2018
Temporary equity:
 
 
Balance at December 31, 2017
 
$
77,230

Change in classification
 
10,635

Change in redemption value
 
(976
)
Diversification of share awards
 
(951
)
Balance at June 30, 2018
 
$
85,938