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Stock Plans (Tables) | 9 Months Ended
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Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Stock Compensation Expense | Stock compensation expense is as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2018 |  | 2017 |  | 2018 |  | 2017
Stock compensation expense |  | $ | 1,904 |  |  | $ | 1,435 |  |  | $ | 9,595 |  |  | $ | 9,668 |
Income tax benefit |  | 463 |  |  | 543 |  |  | 2,332 |  |  | 3,650 |
Stock compensation expense, net of income tax benefit |  | $ | 1,441 |  |  | $ | 892 |  |  | $ | 7,263 |  |  | $ | 6,018 |
Summary of Stock Option Activity | A summary of stock option activity for the nine months ended September 30, 2018, follows:
|  | Shares |  | Weighted Average Exercise Price
Outstanding at January 1, 2018 |  | 955,446 |  |  | $ | 42.75 |
Exercised |  | (160,617 | ) |  | 38.31 |
Forfeited |  | (4,721 | ) |  | 44.50 |
Outstanding at September 30, 2018 |  | 790,108 |  |  | 43.66 |
Exercisable at September 30, 2018 |  | 692,773 |  |  | $ | 43.55 |
Summary of Restricted Stock and Unit Activity | A summary of restricted stock and unit activity for the nine months ended September 30, 2018, follows:
|  | Shares |  | Weighted Average Grant Date Fair Value
Unvested at January 1, 2018 |  | 227,161 |  |  | $ | 57.50 |
Granted |  | 73,062 |  |  | 87.00 |
Vested |  | (88,298 | ) |  | 58.18 |
Forfeited |  | (4,661 | ) |  | 58.94 |
Unvested at September 30, 2018 |  | 207,264 |  |  | $ | 68.76 |
Schedule of Fair Value Assumptions for Units | The following weighted average assumptions were used in the Monte Carlo model for units granted in the first quarter of 2018 with a market condition modifier.
Fair value per unit | $83.58
Risk-free interest rate | 2.36%
Expected dividend yield | 1.82%
Expected volatility | 28.3%
MSA stock beta | 1.240
Summary of Performance Stock Unit Activity | A summary of performance stock unit activity for the nine months ended September 30, 2018, follows:
|  | Shares |  | Weighted Average Grant Date Fair Value
Unvested at January 1, 2018 |  | 242,186 |  |  | $ | 55.06 |
Granted |  | 62,775 |  |  | 84.79 |
Performance adjustments |  | (3,356 | ) |  | 44.61 |
Vested |  | (41,660 | ) |  | 40.23 |
Forfeited |  | (8,659 | ) |  | 44.53 |
Unvested at September 30, 2018 |  | 251,286 |  |  | $ | 65.45 |

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- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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