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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Retirement Benefits [Abstract]  
Combined Activity in Corporations Defined Benefit Pension Plans
We use a December 31 measurement date for our defined benefit plans. Combined activity in our defined benefit pension plans was as follows:
 
2017
 
2016
 
2015
Change in plan assets:
 
 
 
 
 
Fair value of plan assets at beginning of year
$
157,214

 
$
163,270

 
$
168,185

Actual return on plan assets
23,518

 
5,174

 
1,567

Employer contributions
1,049

 
4,819

 
736

Benefits paid
(13,331
)
 
(16,049
)
 
(7,218
)
Fair value of plan assets at end of year
168,450

 
157,214

 
163,270

Change in benefit obligation:
 
 
 
 
 
Benefit obligation at beginning of year
176,751

 
194,140

 
199,637

Interest cost
6,189

 
6,958

 
8,210

Actuarial (gain) loss
12,998

 
(8,298
)
 
(6,489
)
Benefits paid
(13,331
)
 
(16,049
)
 
(7,218
)
Benefit obligation at end of year
182,607

 
176,751

 
194,140

Funded status of the plan at end of year and accrued benefit (liability) recognized
$
(14,157
)
 
$
(19,537
)
 
$
(30,870
)
Accumulated benefit obligation at end of year
$
182,607

 
$
176,751

 
$
194,140
Disaggregated Information Related to Corporations Defined Benefit Pension Plans
Certain disaggregated information related to our defined benefit pension plans as of year-end was as follows:
 
Retirement Plan
 
Restoration Plan
 
2017
 
2016
 
2017
 
2016
Projected benefit obligation
$
166,191

 
$
160,778

 
$
16,416

 
$
15,973

Accumulated benefit obligation
166,191

 
160,778

 
16,416

 
15,973

Fair value of plan assets
168,450

 
157,214

 
—

 
—

Funded status of the plan at end of year and accrued benefit (liability) recognized
2,259

 
(3,564
)
 
(16,416
)
 
(15,973
)
Net Periodic Benefit Cost (Benefit)
The components of the combined net periodic cost (benefit) for our defined benefit pension plans are presented in the table below. Supplemental executive retirement plan (“SERP”) settlement costs were related to the retirement of a former executive officer.
 
2017
 
2016
 
2015
Expected return on plan assets, net of expenses
$
(11,117
)
 
$
(11,558
)
 
$
(11,932
)
Interest cost on projected benefit obligation
6,189

 
6,958

 
8,210

Net amortization and deferral
5,429

 
6,247

 
6,995

SERP settlement costs
—

 
1,027

 
—

Net periodic expense (benefit)
$
501

 
$
2,674

 
$
3,273
Defined Benefit Pension Plans Recognized as Component of Other Comprehensive Income
Amounts related to our defined benefit pension plans recognized as a component of other comprehensive income were as follows:
 
2017
 
2016
 
2015
Net actuarial gain (loss)
$
4,832

 
$
9,188

 
$
3,118

Deferred tax (expense) benefit
(1,774
)
 
(3,216
)
 
(1,091
)
Other comprehensive income (loss), net of tax
$
3,058

 
$
5,972

 
$
2,027
Defined Benefit Pension Plans Not Recognized as Component of Combined Net Period Benefit Cost
We expect to recognize approximately $5.0 million of the net actuarial loss reported in the following table as of December 31, 2017 as a component of net periodic benefit cost during 2018.
 
2017
 
2016
Net actuarial loss
$
(57,900
)
 
$
(62,732
)
Deferred tax benefit
12,160

 
21,956

Amounts included in accumulated other comprehensive income/loss, net of tax
(37,718
)
 
(40,776
)
Weighted-Average Assumptions Used to Determine Benefit Obligations
The weighted-average assumptions used to determine the benefit obligations as of the end of the years indicated and the net periodic benefit cost for the years indicated are presented in the table below. Because the plans were frozen, increases in compensation are not considered after 2001.
 
2017
 
2016
 
2015
Benefit obligations:
 
 
 
 
 
Discount rate
3.68
%
 
4.24
%
 
4.55
%
Net periodic benefit cost:
 
 
 
 
 
Discount rate
4.24
%
 
4.55
%
 
4.20
%
Expected return on plan assets
7.25

 
7.25

 
7.25
Fair Value of Plan Assets
The major categories of assets in our Retirement Plan as of year-end are presented in the following table. Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 “Fair Value Measurements and Disclosures,” utilized to measure fair value (see Note 17 - Fair Value Measurements). Our Restoration Plan is unfunded.
 
2017
 
2016
Level 1:
 
 
 
Mutual funds
$
165,322

 
$
153,765

Cash and cash equivalents
3,128

 
3,208

Level 2:
 
 
 
U.S. government agency securities
—

 
241

Total fair value of plan assets
$
168,450

 
$
157,214
Expected Future Benefit Payments Related to Defined Benefit Plans
As of December 31, 2017, expected future benefit payments related to our defined benefit plans were as follows:
2018
$
9,395

2019
9,837

2020
10,230

2021
10,524

2022
10,770

2023 through 2026
55,927

 
$
106,683
Summary of Activity in Corporation's Active Stock Plans
A combined summary of activity in our active stock plans is presented in the table. Performance stock units outstanding are presented assuming attainment of the maximum payout rate as set forth by the performance criteria. The target award level for performance stock units granted in 2017 and 2016 was 24,162 and 29,240, respectively. As of December 31, 2017, there were 1,367,750 shares remaining available for grant for future awards.
 
 
Director Deferred
Stock Units
Outstanding
 
Non-Vested Stock
Awards/Stock Units
Outstanding
 
Performance Stock Units Outstanding
 
Stock Options
Outstanding
 
 
Number of Units
 
Weighted-
Average
Fair Value
at Grant
 
Number
of Shares/Units
 
Weighted-
Average
Fair Value
at Grant
 
Number of Units
 
Weighted-
Average
Fair Value
at Grant
 
Number
of Shares
 
Weighted-
Average
Exercise
Price
January 1, 2015
 
38,867

 
$
59.39

 
175,490

 
$
60.55

 
—

 
$
—

 
5,029,882

 
$
58.99

Authorized
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Granted
 
6,576

 
72.94

 
53,990

 
65.11

 
—

 
—

 
890,940

 
65.11

Exercised/vested
 
—

 
—

 
(56,300
)
 
48.00

 
—

 
—

 
(287,326
)
 
51.70

Forfeited/expired
 
—

 
—

 
—

 
—

 
—

 
—

 
(21,256
)
 
66.72

December 31, 2015
 
45,443

 
61.35

 
173,180

 
66.05

 
—

 
—

 
5,612,240

 
60.30

Authorized
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Granted
 
8,216

 
63.25

 
132,800

 
76.07

 
43,860

 
69.70

 
—

 
—

Exercised/vested
 
—

 
—

 
(49,130
)
 
54.56

 
—

 
—

 
(1,476,841
)
 
53.40

Forfeited/expired
 
—

 
—

 
—

 
—

 
—

 
—

 
(46,371
)
 
71.04

December 31, 2016
 
53,659

 
61.48

 
256,850

 
73.43

 
43,860

 
69.70

 
4,089,028

 
62.67

Authorized
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Granted
 
5,447

 
95.37

 
99,833

 
98.90

 
36,243

 
92.27

 
—

 
—

Exercised/vested
 
(6,098
)
 
62.29

 
(39,740
)
 
71.59

 
—

 
—

 
(1,118,122
)
 
60.59

Forfeited/expired
 
—

 
—

 
(4,287
)
 
79.52

 
—

 
—

 
(53,764
)
 
69.78

December 31, 2017
 
53,008

 
$
64.87

 
312,656

 
$
81.71

 
80,103

 
$
79.91

 
2,917,142

 
$
63.34
Options Outstanding and Exercisable
Other information regarding options outstanding and exercisable as of December 31, 2017 is as follows:
 
 
 
 
 
 
Options Outstanding
 
Options Exercisable
Range of
Exercise Prices
 
Number
of Shares
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Life
in Years
 
Number
of Shares
 
Weighted-
Average
Exercise
Price
$
45.01

 
to
 
$
50.00

 
294,230

 
$
48.00

 
3.82
 
294,230

 
$
48.00

50.01

 
to
 
55.00

 
915,923

 
52.79

 
3.04
 
915,923

 
52.79

65.01

 
to
 
70.00

 
711,477

 
65.11

 
7.49
 
294,507

 
65.11

70.01

 
to
 
75.00

 
345,195

 
71.39

 
5.78
 
345,195

 
71.39

75.01

 
to
 
80.00

 
650,317

 
78.94

 
6.58
 
445,131

 
78.94

 
 
 
 
Total
 
2,917,142

 
63.34

 
5.32
 
2,294,986

 
61.63
Shares Issued in Connection With Stock Compensation Awards
Shares issued in connection with stock compensation awards are issued from available treasury shares. If no treasury shares are available, new shares are issued from available authorized shares. Shares issued in connection with stock compensation awards along with other related information were as follows:
 
2017
 
2016
 
2015
New shares issued from available authorized shares
603,842

 
—

 
—

Issued from available treasury stock
547,078

 
1,509,121

 
337,056

Total
1,150,920

 
1,509,121

 
337,056

Proceeds from stock option exercises
$
67,746

 
$
78,866

 
$
14,853

Intrinsic value of stock options exercised
38,275

 
30,935

 
5,766

Fair value of stock awards/units vested
4,578

 
3,679

 
3,728
Stock-Based Compensation Expense
Stock-based compensation expense and the related income tax benefit is presented in the following table. The service period for performance stock units granted each year begins on January 1 of the following year.
 
2017
 
2016
 
2015
Stock options
$
6,230

 
$
8,235

 
$
9,660

Non-vested stock awards/stock units
4,992

 
3,044

 
2,597

Deferred stock-units
519

 
520

 
480

Performance stock units
1,272

 
—

 
—

Total
$
13,013

 
$
11,799

 
$
12,737

Income tax benefit
$
4,555

 
$
4,130

 
$
4,458
Unrecognized Stock-Based Compensation Expense
Unrecognized stock-based compensation expense and the weighted-average period over which the expense is expected to be recognized at December 31, 2017 is presented in the table below. Unrecognized stock-based compensation expense related to performance stock units is presented assuming attainment of the maximum payout rate as set forth by the performance criteria.
 
Unrecognized Expense
 
Weighted-Average Number of Years for Expense Recognition
Stock options
$
5,575

 
1.4
Non-vested stock awards/stock units
14,953

 
3.0
Performance stock units
5,129

 
2.1
Total
$
25,657