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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Share-based Compensation [Abstract]  
Target grants performance share
Target grants of performance shares outstanding at December 31, 2014, were as follows:
Grant Date
Performance
Period
Target Grant
of Shares

February 2012
2012-2014
251,196

March 2013
2013-2015
240,419

February 2014
2014-2016
196,840

Schedule of share-based payment award, performance shares, valuation assumptions
Assumptions used for grants of performance shares issued in 2014, 2013 and 2012 were:
 
 
 
2014

 
 
2013

 
 
2012

Grant-date fair value
 
 

$41.13

 
 

$29.01

 
 

$17.18

Blended volatility range
18.94
%
20.43
%
16.10
%
19.39
%
24.29
%
25.81
%
Risk-free interest rate range
.03
%
.74
%
.09
%
.40
%
.10
%
.35
%
Discounted dividends per share
 
 

$2.15

 
 

$2.12

 
 

$1.19

Summary of the status of the performance share awards
A summary of the status of the performance share awards for the year ended December 31, 2014, was as follows:
 
Number of
Shares

Weighted
Average
Grant-Date
Fair Value

Nonvested at beginning of period
749,991

$
21.99

Granted
196,840

41.13

Additional performance shares earned
236,699

19.99

Vested
(491,213
)
19.99

Forfeited
(3,862
)
29.01

Nonvested at end of period
688,455

$
28.16