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Note 15 - Stock Based Compensation | 9 Months Ended
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Sep. 30, 2017
Notes to Financial Statements |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 15: STOCK BASED COMPENSATION The Company’s Board of Directors has adopted various stock compensation plans. The plans provide for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, and bonus stock awards. Pursuant to the plans, shares are reserved for future issuance by the Company upon the exercise of stock options or awarding of bonus shares granted to directors, officers and other key employees. The table below summarizes the transactions under the Company's active stock compensation plans for the nine months ended September 30, 2017:
|  | Stock Options Outstanding |  | Stock Awards Outstanding |  | Stock Units Outstanding
|  | Number of Shares (000) |  | Weighted Average Exercise Price |  | Number of Shares (000) |  | Weighted Average Exercise Price |  | Number of Shares (000) |  | Weighted Average Exercise Price
Balance, January 1, 2017 |  |  | 473 |  |  | $ | 42.85 |  |  |  | 139 |  |  | $ | 40.96 |  |  |  | 113 |  |  | $ | 45.40 |
Granted |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | 185 |  |  |  | 58.18 |
Stock Options Exercised |  |  | (39 | ) |  |  | 32.16 |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | -- |
Stock Awards/Units Vested |  |  | -- |  |  |  | -- |  |  |  | (34 | ) |  |  | 36.45 |  |  |  | (124 | ) |  |  | 52.71 |
Forfeited/Expired |  |  | (3 | ) |  |  | 44.68 |  |  |  | (12 | ) |  |  | 43.83 |  |  |  | (13 | ) |  |  | 51.72 |
Balance, September 30, 2017 |  |  | 431 |  |  | $ | 43.82 |  |  |  | 93 |  |  | $ | 42.21 |  |  |  | 161 |  |  | $ | 53.97 |
Exercisable, September 30, 2017 |  |  | 325 |  |  | $ | 43.23 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
The following table summarizes information about stock options under the plans outstanding at September 30, 2017:
|  |  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  | Number of Shares |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Weighted Average Exercise Price |  |  | Number of Shares |  |  | Weighted Average Exercise Price |
$17.55 | - | $21.13 |  |  | 3,950 |  |  |  | 2.76 |  |  | $ | 19.38 |  |  |  | 3,950 |  |  | $ | 19.38 |
21.29 | - | 21.29 |  |  | 3,700 |  |  |  | 5.30 |  |  |  | 21.29 |  |  |  | 2,500 |  |  |  | 21.29 |
21.51 | - | 21.51 |  |  | 1,250 |  |  |  | 2.30 |  |  |  | 21.51 |  |  |  | 1,250 |  |  |  | 21.51 |
30.31 | - | 30.31 |  |  | 22,180 |  |  |  | 0.63 |  |  |  | 30.31 |  |  |  | 22,180 |  |  |  | 30.31 |
40.57 | - | 40.57 |  |  | 40,490 |  |  |  | 7.25 |  |  |  | 40.57 |  |  |  | 40,490 |  |  |  | 40.57 |
40.72 | - | 40.72 |  |  | 1,500 |  |  |  | 7.13 |  |  |  | 40.72 |  |  |  | 600 |  |  |  | 40.72 |
44.40 | - | 44.40 |  |  | 49,870 |  |  |  | 7.25 |  |  |  | 44.40 |  |  |  | 37,144 |  |  |  | 44.40 |
45.50 | - | 45.50 |  |  | 246,485 |  |  |  | 7.62 |  |  |  | 45.50 |  |  |  | 193,025 |  |  |  | 45.50 |
47.02 | - | 47.02 |  |  | 58,090 |  |  |  | 7.79 |  |  |  | 47.02 |  |  |  | 20,838 |  |  |  | 47.02 |
48.13 | - | 48.13 |  |  | 3,305 |  |  |  | 7.96 |  |  |  | 48.13 |  |  |  | 2,645 |  |  |  | 48.13 |
$17.55 | - | $48.13 |  |  | 430,820 |  |  |  | 7.12 |  |  | $ | 43.82 |  |  |  | 324,622 |  |  | $ | 43.23 |
Total stock-based compensation expense was $6,486,000 and $4,204,000 during the nine months ended September 30, 2017 and 2016, respectively. Stock-based compensation expense is recognized ratably over the requisite service period for all stock-based awards. There was $407,000 of unrecognized stock-based compensation expense related to stock options at September 30, 2017. Unrecognized stock-based compensation expense related to non-vested stock awards was $15,423,000 at September 30, 2017. At such date, the weighted-average period over which this unrecognized expense is expected to be recognized was 2.0 years. The intrinsic value of stock options outstanding and stock options exercisable at September 30, 2017 was $6,066,000 and $4,761,000. Aggregate intrinsic value represents the difference between the Company’s closing stock price on the last trading day of the period, which was $57.90 as of September 30, 2017, and the exercise price multiplied by the number of options outstanding and exercisable at a price below that closing price. The total intrinsic value of stock options exercised during the nine months ended September 30, 2017 and September 30, 2016, was $1,012,000 and $1,063,000, respectively. The fair value of the Company’s employee stock options granted is estimated on the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. There were no stock options granted during the nine months ended September 30, 2017. The weighted-average fair value of stock options granted during the nine months ended September 30, 2016 was $11.64 per share. The Company estimated expected market price volatility and expected term of the options based on historical data and other factors. The weighted-average assumptions used to determine the fair value of options granted are detailed in the table below:
|  | Nine Months Ended September 30, 2016
Expected dividend yield |  |  | 1.96 | %
Expected stock price volatility |  |  | 27.34 | %
Risk-free interest rate |  |  | 2.01 | %
Expected life of options (in years) |  |  | 7 |

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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 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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