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Capital Transactions (Tables) | 12 Months Ended
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Dec. 31, 2016
Schedule of assumptions used and weighted average fair value for stock option grants |
|  | 2016 |  | 2015 |  | 2014 |
Expected annual dividend rate |  |  | 1.08 | % |  | 1.18 | % |  | 1.32 | %
Risk-free interest rate |  |  | 1.15 | % |  | 1.62 | % |  | 1.50 | %
Average expected life (years) |  |  | 5.7 |  |  | 5.7 |  |  | 5.8 |
Expected volatility of common stock |  |  | 0.412 |  |  | 0.401 |  |  | 0.431 |
Forfeiture rate |  |  | 0.0 | % |  | 0.0 | % |  | 0.0 | %
Weighted average fair value of option grants |  | $ | 5.27 |  | $ | 4.75 |  | $ | 4.47 |
Schedule of restricted stock activity |
During the year ended December 31, 2016, the Company granted 380,358 shares of restricted stock units to certain Company’s employees under the 2010 Incentive Plan. The restricted stock units granted during the year ended December 31, 2016 have a three‑year vesting period, during which the recipient must remain employed with the Company or its subsidiaries. The weighted average fair value of the restricted stock units the date of grants made during the year ended December 31, 2016 was $14.81 per share. The following table summarizes the activity of restricted stock units granted to certain Company employees as of December 31, 2016, 2015 and 2014: |  |  |  |  |  |
|  |  |  |  | Weighted-Average |
|  |  |  |  | Grant-Date Fair |
|  | Number of Shares |  |  | Value |
Non-vested shares outstanding at December 31, 2013 |  | 733,591 |  | $ | 13.79 |
Granted |  | 312,749 |  |  | 12.00 |
Vested |  | (284,891) |  |  | 14.74 |
Cancelled |  | (38,273) |  |  | 12.83 |
Non-vested shares outstanding at December 31, 2014 |  | 723,176 |  |  | 12.70 |
Granted |  | 408,163 |  |  | 13.57 |
Vested |  | (215,856) |  |  | 13.06 |
Cancelled |  | (106,184) |  |  | 13.52 |
Non-vested shares outstanding at December 31, 2015 |  | 809,299 |  |  | 13.13 |
Granted |  | 384,148 |  |  | 14.81 |
Vested |  | (215,146) |  |  | 13.29 |
Cancelled |  | (51,370) |  |  | 13.72 |
Non-vested shares outstanding at December 31, 2016 |  | 926,931 |  | $ | 13.65 |
Schedule of stock option activity |
|  | 2016 |  | 2015 |  | 2014 |
|  |  |  |  |  |  | Weighted |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  | Weighted |  | Average |  | Aggregate |  |  |  | Weighted |  |  |  | Weighted |
|  |  |  | Average |  | Remaining |  | Intrinsic |  |  |  | Average |  |  |  | Average |
|  | Number of |  | Exercise |  | Contractual |  | Value |  | Number of |  | Exercise |  | Number of |  | Exercise |
|  | Options |  | Price |  | Term |  | ($000) |  | Options |  | Price |  | Options |  | Price |
Outstanding at beginning of year |  | 1,064,429 |  | $ | 13.64 |  | 3.7 | years | $ | 5,726.7 |  | 2,888,074 |  | $ | 16.46 |  | 3,407,575 |  | $ | 17.99 |
Granted |  | 206,021 |  |  | 14.90 |  |  |  |  |  |  | 267,433 |  |  | 13.63 |  | 255,503 |  |  | 11.96 |
Exercised |  | (351,296) |  |  | 14.17 |  |  |  |  |  |  | (544,917) |  |  | 14.68 |  | (6,701) |  |  | 12.10 |
Cancelled |  | (99,173) |  |  | 14.90 |  |  |  |  |  |  | (1,546,161) |  |  | 18.53 |  | (768,303) |  |  | 6.81 |
Outstanding at end of year |  | 819,981 |  |  | 13.58 |  | 4.4 | years | $ | 18,756.9 |  | 1,064,429 |  |  | 13.64 |  | 2,888,074 |  |  | 16.46 |
Exercisable at December 31, 2016 |  | 263,851 |  |  | 13.76 |  | 2.8 | years | $ | 5,985.5 |  |  |  |  |  |  |  |  |  |  |
Exercisable at December 31, 2015 |  | 484,747 |  |  | 14.46 |  | 1.7 | years | $ | 2,212.5 |  |  |  |  |  |  |  |  |  |  |
Schedule of non-vested stock options | The following table summarizes the status of the Company’s non‑vested stock options as of December 31, 2016:
|  |  |  | Weighted-Average |
|  | Number of |  | Grant-Date |
|  | Shares |  | Fair Value |
Non-vested shares at beginning of year |  | 579,682 |  | $ | 4.75 |
Granted |  | 206,021 |  |  | 5.31 |
Vested |  | (209,419) |  |  | 5.00 |
Cancelled |  | (20,154) |  |  | 4.96 |
Non-vested shares at end of year |  | 556,130 |  | $ | 4.86 |
Schedule of stock options outstanding | The following table summarizes information about the Company’s stock options outstanding at December 31, 2016:
|  |  |  | Options Outstanding |  | Options Exercisable |
|  |  |  |  |  | Weighted Average |  |  |  |  |  |  |  |  |
|  |  |  | Number |  | Remaining |  | Weighted Average |  | Number |  | Weighted Average |
Range of Exercise Prices |  | Outstanding |  | Contractual Life |  | Exercise Price |  | Exercisable |  | Exercise Price |
$8 | to | $11 |  | 19,458 |  | 4.4 | years |  | $ | 11.10 |  | — |  | $ | — |
$12 | to | $14 |  | 732,048 |  | 4.6 | years |  |  | 13.43 |  | 205,087 |  |  | 13.26 |
$15 | to | $19 |  | 68,475 |  | 1.9 | years |  |  | 15.88 |  | 58,764 |  |  | 15.54 |
$8 | to | $19 |  | 819,981 |  | 4.4 | years |  | $ | 13.58 |  | 263,851 |  | $ | 13.76 |
Performance share units |
Schedule of non-vested stock options | The following table summarizes the activity of performance share units granted at target as of December 31, 2016.
|  |  |  |  | Weighted-Average
|  |  |  |  | Grant-Date Fair
|  | Number of Shares |  |  | Value
Non-vested shares outstanding at December 31, 2014 |  | — |  | $ | —
Granted |  | 222,583 |  |  | 13.61
Vested |  | — |  |  | —
Cancelled |  | (19,754) |  |  | 13.51
Non-vested shares outstanding at December 31, 2015 |  | 202,829 |  | $ | 13.62
Granted |  | 183,577 |  |  | 14.89
Vested |  | — |  |  | —
Cancelled |  | (22,413) |  |  | 14.16
Non-vested shares outstanding at December 31, 2016 |  | 363,993 |  | $ | 14.23

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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