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Stock-Based Compensation | 6 Months Ended
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Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-Based Compensation | Note 12 — Stock-Based Compensation Incentive Plans The Company currently has outstanding stock-based awards granted under the 2007 Stock Option and Incentive Plan and the 2012 Omnibus Incentive Plan. Only the 2012 Plan is active and available for future grants. At June 30, 2015, there were 4,197,622 shares available for grant under the 2012 plan. Stock Options Stock options granted and outstanding under the incentive plans vest over periods ranging from immediately vested to five years and are exercisable over the contractual term of ten years. A summary of the stock option activity for the three and six months ended June 30, 2015 and 2014 is as follows (option amounts not in thousands):
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value |
Outstanding at January 1, 2015 |  |  | 230,000 |  |  | $ | 3.00 |  |  |  | 3.0 years |  |  | $ | 9,256 |
Outstanding at March 31, 2015 |  |  | 230,000 |  |  | $ | 3.00 |  |  |  | 2.8 years |  |  | $ | 9,861 |
Exercised |  |  | (80,000 | ) |  | $ | 2.50 |  |  |  |  |  |  |  |  |
Outstanding at June 30, 2015 |  |  | 150,000 |  |  | $ | 3.26 |  |  |  | 2.9 years |  |  | $ | 6,142 |
Exercisable at June 30, 2015 |  |  | 150,000 |  |  | $ | 3.26 |  |  |  | 2.9 years |  |  | $ | 6,142 |
Outstanding at January 1, 2014 |  |  | 280,000 |  |  | $ | 2.91 |  |  |  | 3.9 years |  |  | $ | 14,166 |
Exercised |  |  | (50,000 | ) |  | $ | 2.50 |  |  |  |  |  |  |  |  |
Outstanding at March 31, 2014 |  |  | 230,000 |  |  | $ | 3.00 |  |  |  | 3.8 years |  |  | $ | 7,683 |
Outstanding at June 30, 2014 |  |  | 230,000 |  |  | $ | 3.00 |  |  |  | 3.5 years |  |  | $ | 8,649 |
Exercisable at June 30, 2014 |  |  | 230,000 |  |  | $ | 3.00 |  |  |  | 3.5 years |  |  | $ | 8,649 |
The following table summarizes information about options exercised for the three and six months ended June 30, 2015 and 2014 (option amounts not in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Options exercised |  |  | 80,000 |  |  |  | — |  |  |  | 80,000 |  |  |  | 50,000 |
Total intrinsic value of exercised options |  | $ | 3,188 |  |  |  | — |  |  | $ | 3,188 |  |  | $ | 1,970 |
Fair value of vested stock options |  | $ | — |  |  | $ | 17 |  |  | $ | — |  |  | $ | 17 |
Tax benefits realized |  | $ | 1,192 |  |  |  | — |  |  | $ | 1,192 |  |  | $ | 603 |
All outstanding stock options vested and their related compensation expense had been fully recognized prior to 2015. The Company recognized compensation expense related to stock options, which is included in other operating expenses, of approximately $1 and $6, respectively, for the three and six months ended June 30, 2014. The associated deferred tax benefits were immaterial. Restricted Stock Awards From time to time, the Company has granted and may grant restricted stock awards to certain executive officers, other employees and nonemployee directors in connection with their service to the Company. The terms of the Company’s outstanding restricted stock grants may include service, performance and market-based conditions. The fair value of the awards with market-based conditions is determined using a Monte Carlo simulation method, which calculates many potential outcomes for an award and then establishes fair value based on the most likely outcome. The determination of fair value with respect to the awards with only performance or service-based conditions is based on the market value of the Company’s common stock on the grant date. Information with respect to the activity of unvested restricted stock awards during the three and six months ended June 30, 2015 and 2014 is as follows (share amounts not in thousands):
|  | Number of Restricted Stock Awards |  |  | Weighted Average Grant Date Fair Value |
Nonvested at January 1, 2015 |  |  | 639,705 |  |  | $ | 28.33 |
Vested |  |  | (41,695 | ) |  | $ | 36.15 |
Forfeited |  |  | (1,088 | ) |  | $ | 48.42 |
Nonvested at March 31, 2015 |  |  | 596,922 |  |  | $ | 27.75 |
Granted |  |  | 83,260 |  |  | $ | 44.46 |
Vested |  |  | (16,000 | ) |  | $ | 13.48 |
Forfeited |  |  | (33,324 | ) |  | $ | 23.20 |
Nonvested at June 30, 2015 |  |  | 630,858 |  |  | $ | 30.55 |
Nonvested at January 1, 2014 |  |  | 735,650 |  |  | $ | 25.48 |
Granted |  |  | 98,720 |  |  | $ | 48.42 |
Vested |  |  | (21,825 | ) |  | $ | 21.56 |
Forfeited |  |  | (505 | ) |  | $ | 32.20 |
Nonvested at March 31, 2014 |  |  | 812,040 |  |  | $ | 28.37 |
Vested |  |  | (32,000 | ) |  | $ | 12.95 |
Forfeited |  |  | (2,825 | ) |  | $ | 43.43 |
Nonvested at June 30, 2014 |  |  | 777,215 |  |  | $ | 28.95 |
The Company recognized compensation expense related to restricted stock, which is included in other operating expenses, of $1,381 and $2,247 for the three months ended June 30, 2015 and 2014, respectively, and $2,789 and $4,327 for the six months ended June 30, 2015 and 2014, respectively. At June 30, 2015 and 2014, there was approximately $10,442 and $14,071, respectively, of total unrecognized compensation expense related to nonvested restricted stock arrangements. The Company expects to recognize the remaining compensation expense over a weighted-average period of 21 months. The following table summarizes information about deferred tax benefits recognized and tax benefits realized related to restricted stock awards and related paid dividends, and the fair value of vested restricted stock for the three and six months ended June 30, 2015 and 2014:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Deferred tax benefits recognized |  | $ | 532 |  |  | $ | 866 |  |  | $ | 1,076 |  |  | $ | 1,669 |
Tax benefits realized for restricted stock and paid dividends |  | $ | 240 |  |  | $ | 389 |  |  | $ | 499 |  |  | $ | 701 |
Fair value of vested restricted stock |  | $ | 216 |  |  | $ | 414 |  |  | $ | 1,723 |  |  | $ | 885 |
During the three and six months ended June 30, 2015, no performance awards were issued.

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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 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51659978&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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