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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Awards
The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value:
 
 
Year Ended December 31,
Restricted Shares and Performance-Based Shares
 
2017
 
2016
 
2015
 
Expected quarterly dividends per share
 
$
0.2425

 
$
0.2200

 
$
0.2000

 
Risk-free interest rate
 
1.50
%
 
0.94
%
 
0.92
%
 
 
 
 
 
 
 
 
 
Market-Based Shares
 
 
 
 
 
 
 
Dividend yield
 
2.67
%
 
2.74
%
 
2.87
%
 
Expected volatility
 
20.80
%
 
20.44
%
 
18.73
%
 
Risk-free interest rate
 
1.54
%
 
0.97
%
 
1.00
%
 
The following table summarizes activity in restricted stock awards, including performance-based and market-based shares, and stock options:
 
 
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
 
(273,530
)
 
$
21.01

 
(109,433
)
 
$
15.89

Forfeited
 
(4,012
)
 
$
29.96

 

 
$

Expired
 

 
$

 
(3,000
)
 
$
30.50

Outstanding at December 31, 2017
 
189,045

 
$
31.11

 
193,441

 
$
9.98

The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares, and stock options:
 
 
Year Ended December 31,
Restricted Stock
 
2017
 
2016
 
2015
Weighted-average grant date fair value
 
$
23.06

 
$
26.49

 
$
20.34

Total fair value of restricted shares that vested (in thousands)
 
$
5,747

 
$
5,079

 
$
6,507

 
 
 
 
 
 
 
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

 
$
1,242

 
$
2,350