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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Share-based Compensation [Abstract]  
Target grants performance share
Target grants of performance shares outstanding at December 31, 2015, were as follows:
Grant Date
Performance
Period
Target Grant
of Shares

March 2013
2013-2015
188,388

February 2014
2014-2016
142,989

February 2015
2015-2017
220,078

June 2015
2015-2017
14,441

Schedule of share-based payment award, performance shares, valuation assumptions
Assumptions used for grants of performance shares issued in 2015, 2014 and 2013 were:
 
 
 
2015

 
 
2014

 
 
2013

Weighted average grant-date fair value
 
 

$18.98

 
 

$41.13

 
 

$29.01

Blended volatility range
22.86
%
24.61
%
18.94
%
20.43
%
16.10
%
19.39
%
Risk-free interest rate range
.05
%
1.07
%
.03
%
.74
%
.09
%
.40
%
Weighted average discounted dividends per share
 
 

$1.57

 
 

$2.15

 
 

$2.12

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, 2015, was as follows:
 
Number of
Shares

Weighted
Average
Grant-Date
Fair Value

Nonvested at beginning of period
688,455

$
28.16

Granted
258,454

18.98

Vested


Forfeited
(381,013
)
22.31

Nonvested at end of period
565,896

$
27.90