XML 53 R38.htm IDEA: XBRL DOCUMENT v3.10.0.1
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2018
Deferred Compensation Arrangements [Abstract]  
Schedule of Stock Option Valuation Assumptions [Table Text Block]
The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

 
2018
 
2017
 
2016
Dividend yield
6.5%
 
5.3%
 
6.2%
Expected volatility
19.4%
 
19.8%
 
19.1%
Expected lives
2.9 years
 
2.9 years
 
2.9 years
Risk-free interest rate
2.39%
 
1.49%
 
0.91%
Schedule of Stock Option Activity [Table Text Block]
The following tables summarize our outstanding stock options:
 
 
 
 
 
Weighted Average
 
 
 
Number

 
Weighted Average
 
Remaining
 
Aggregate
 
of Shares

 
Exercise Price
 
Contractual Life (Years)
 
Intrinsic Value
Outstanding December 31, 2015
741,676

 
$60.43
 
 
 
 
Options granted under 2012 Plan
470,000

 
$60.78
 
 
 
 
Options exercised under 2005 Plan
(61,666
)
 
$52.36
 
 
 
 
Options exercised under 2012 Plan
(608,331
)
 
$65.18
 
 
 
 
Outstanding December 31, 2016
541,679

 
$65.84
 
 
 
 
Options granted under 2012 Plan
495,000

 
$74.90
 
 
 
 
Options exercised under 2005 Plan
(15,000
)
 
$47.52
 
 
 
 
Options exercised under 2012 Plan
(155,829
)
 
$65.73
 
 
 
 
Options canceled under 2012 Plan
(6,668
)
 
$60.52
 
 
 
 
Outstanding December 31, 2017
859,182

 
$70.11
 
 
 
 
Options granted under 2012 Plan
560,000

 
$64.33
 
 
 
 
Options exercised under 2005 Plan
(6,668
)
 
$72.11
 
 
 
 
Options exercised under 2012 Plan
(462,167
)
 
$65.03
 
 
 
 
Options canceled under 2012 Plan
(30,001
)
 
$66.73
 
 
 
 
Outstanding December 31, 2018
920,346

 
$69.24
 
3.35
 
$
5,798,000

 
 
 
 
 
 
 
 
Exercisable December 31, 2018
476,992

 
$70.93
 
2.88
 
$
2,204,000

 
 
 
 
 
 
Remaining
Grant
 
Number

 
Exercise

 
Contractual
Date
 
of Shares

 
Price

 
Life in Years
2/25/2014
 
15,000

 
$
61.31

 
0.15
2/20/2015
 
50,002

 
$
72.11

 
1.14
2/22/2016
 
36,668

 
$
60.52

 
2.15
3/8/2016
 
26,667

 
$
63.63

 
2.19
2/22/2017
 
399,170

 
$
74.78

 
3.15
9/1/2017
 
10,000

 
$
80.55

 
3.68
2/20/2018
 
382,839

 
$
64.33

 
4.14
Outstanding December 31, 2018
 
920,346

 
 
 
 
Schedule of Nonvested Share Activity [Table Text Block]
The following table summarizes our outstanding non-vested stock options:
 
Number of Shares

 
Weighted Average Grant Date Fair Value
Non-vested December 31, 2017
400,019

 
$5.10
Options granted under 2012 Plan
560,000

 
$4.49
Options vested under 2012 Plan
(494,996
)
 
$4.62
Options vested under 2005 Plan
(6,668
)
 
$4.91
Non-vested options canceled under 2012 Plan
(15,001
)
 
$4.99
Non-vested December 31, 2018
443,354

 
$4.87