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Share-Based Compensation | 12 Months Ended
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Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share-Based Compensation | Note 18: Share-Based Compensation Compensation cost charged against income, primarily SG&A expense, and the income tax benefit recognized for our share-based compensation arrangements is included below:
|  | Years Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  |  |  |  | (In thousands) |  |  |  |
Total share-based compensation cost |  | $ | 18,858 |  |  | $ | 14,854 |  |  | $ | 12,374 |
Income tax benefit |  |  | 7,334 |  |  |  | 5,777 |  |  |  | 4,812 |
We currently have outstanding stock appreciation rights (SARs), stock options, restricted stock units with service vesting conditions, and restricted stock units with performance vesting conditions. We grant SARs and stock options with an exercise price equal to the closing market price of our common stock on the grant date. Generally, SARs and stock options may be converted into shares of our common stock in equal amounts on each of the first three anniversaries of the grant date and expire 10 years from the grant date. Certain awards provide for accelerated vesting in certain circumstances, including a change in control of the Company. Restricted stock units with service conditions generally vest 3-5 years from the grant date. Restricted stock units issued based on the attainment of the performance conditions generally vest as follows: 1) 50% on the second anniversary of their grant date and 50% on the third anniversary, or 2) 100% on the third anniversary of their grant date. We recognize compensation cost for all awards based on their fair values. The fair values for SARs and stock options are estimated on the grant date using the Black-Scholes-Merton option-pricing formula which incorporates the assumptions noted in the following table. Expected volatility is based on historical volatility, and expected term is based on historical exercise patterns of option holders. The fair value of restricted stock units is the closing market price of our common stock on the date of grant. Compensation costs for awards with service conditions are amortized to expense using the straight-line method. Compensation costs for awards with performance conditions and graded vesting are amortized to expense using the graded attribution method.
|  | Years Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (In thousands, except weighted average fair |
|  | value and assumptions) |
Weighted-average fair value of SARs and options granted |  | $ | 35.46 |  |  | $ | 24.63 |  |  | $ | 19.53 |
Total intrinsic value of SARs converted and options exercised |  |  | 24,023 |  |  |  | 47,058 |  |  |  | 8,898 |
Cash received for options exercised |  |  | 48 |  |  |  | 14,030 |  |  |  | 2,372 |
Tax benefit related to share-based compensation |  |  | 6,859 |  |  |  | 10,734 |  |  |  | 4,119 |
Weighted-average fair value of restricted stock shares and units granted |  |  | 72.46 |  |  |  | 50.38 |  |  |  | 35.85 |
Total fair value of restricted stock shares and units vested |  |  | 7,888 |  |  |  | 9,032 |  |  |  | 9,017 |
Expected volatility |  |  | 52.63 | % |  |  | 53.94 | % |  |  | 54.26 | %
Expected term (in years) |  |  | 5.8 |  |  |  | 6.1 |  |  |  | 6.1 |
Risk-free rate |  |  | 1.79 | % |  |  | 1.04 | % |  |  | 1.11 | %
Dividend yield |  |  | 0.28 | % |  |  | 0.40 | % |  |  | 0.50 | %
|  | SARs and Stock Options |  |  | Restricted Shares and Units |
|  | Number |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value |  |  | Number |  |  | Weighted- Average Grant-Date Fair Value |
|  |  |  |  | (In thousands, except exercise prices, fair values, and contractual terms) |  |  |  |
Outstanding at January 1, 2014 |  |  | 1,668 |  |  | $ | 36.37 |  |  |  |  |  |  |  |  |  |  |  | 442 |  |  | $ | 41.32 |
Granted |  |  | 204 |  |  |  | 72.55 |  |  |  |  |  |  |  |  |  |  |  | 192 |  |  |  | 72.46 |
Exercised or converted |  |  | (542 | ) |  |  | 29.52 |  |  |  |  |  |  |  |  |  |  |  | (110 | ) |  |  | 33.54 |
Forfeited or expired |  |  | (25 | ) |  |  | 51.52 |  |  |  |  |  |  |  |  |  |  |  | (31 | ) |  |  | 52.08 |
Outstanding at December 31, 2014 |  |  | 1,305 |  |  | $ | 44.60 |  |  |  | 7.1 |  |  | $ | 44,675 |  |  |  | 493 |  |  | $ | 54.76 |
Vested or expected to vest at December 31, 2014 |  |  | 1,279 |  |  | $ | 44.28 |  |  |  | 7.1 |  |  | $ | 44,159 |  |  |  |  |  |  |  |  |
Exercisable or convertible at December 31, 2014 |  |  | 739 |  |  |  | 36.68 |  |  |  | 6.3 |  |  |  | 31,127 |  |  |  |  |  |  |  |  |
At December 31, 2014, the total unrecognized compensation cost related to all nonvested awards was $18.9 million. That cost is expected to be recognized over a weighted-average period of 1.8 years. Historically, we have issued treasury shares, if available, to satisfy award conversions and exercises.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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