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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Activity
The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares, and stock options:
 
 
Nine Months Ended September 30,
Restricted Stock
 
2017
 
2016
Weighted-average grant date fair value
 
$
23.06

 
$
26.49

Total fair value of restricted shares that vested (in thousands)
 
$
5,666

 
$
5,011

 
 
 
 
 
Stock Options
 
 
 
 
Weighted-average grant date fair value of options granted
 
$

 
$

Total fair value of options that vested (in thousands)
 
$

 
$

Total intrinsic value of options exercised (in thousands)
 
$
2,234

 
$
1,208

The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value:
 
 
Nine Months Ended September 30,
Restricted Shares and Performance Based Shares
 
2017
 
2016
Expected quarterly dividends per share
 
$
0.2425

 
$
0.2200

Risk-free interest rate
 
1.50
%
 
0.94
%
 
 
 
 
 
Market-Based Shares
 
 
 
 
Dividend yield
 
2.67
%
 
2.74
%
Expected volatility
 
20.80
%
 
20.44
%
Risk-free interest rate
 
1.54
%
 
0.97
%

The following table summarizes activity in restricted stock awards, including performance-based and market-based shares, and stock options, for the nine months ended September 30, 2017:
 
Restricted Stock
 
Stock Options
 
Shares
 
Weighted-
Average
Grant Date Fair Value
 
Shares
 
Weighted-
Average
Exercise Price
Outstanding at December 31, 2016
218,316

 
$
27.59

 
305,874

 
$
12.29

Granted
248,271

 
$
23.06

 

 
$

Exercised
(270,855
)
 
$
20.92

 
(109,433
)
 
$
15.89

Forfeited
(4,012
)
 
$
29.96

 

 
$

Expired

 
$

 
(3,000
)
 
$
30.50

Outstanding at September 30, 2017
191,720

 
$
31.10

 
193,441

 
$
9.98