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Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2016

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Weighted-Average Assumptions Used to Estimate Grant Date Fair Values for Stock Options Granted

Weighted-average assumptions used to estimate the grant date fair values for stock options granted for the three month periods ended March 31, 2016 and 2015 follow:

	Three Months Ended
	March 31,
	2016				2015
Volatility		39.52	%			38.47	%
Expected term (in years)		5.00				5.00
Dividend yield		2.65	%			2.41	%
Risk-free interest rate		1.76	%			1.65	%

Stock Option Activity

Stock option activity from January 1, 2016 to March 31, 2016 follows:

					Weighted
					Average
	Underlying				Exercise
	Shares				Price
Outstanding at January 1, 2016		6,307,250			$	21.68
Granted		50,000			$	15.08
Exercised		—				—
Cancelled		—				—
Expired		(30,000	)		$	34.24
Outstanding at March 31, 2016		6,327,250			$	21.56
Exercisable at March 31, 2016		5,332,768			$	21.46

Restricted Stock Activity

Restricted stock activity from January 1, 2016 to March 31, 2016 follows:

					Weighted
					Average
					Grant Date
	Shares				Fair Value
Non-vested restricted stock outstanding at January 1, 2016		1,432,250			$	24.56
Granted		15,000			$	15.08
Vested		(60,831	)		$	24.60
Forfeited		(14,939	)		$	25.24
Non-vested restricted stock outstanding March 31, 2016		1,371,480			$	24.45

Restricted Stock Unit Activity

Restricted stock unit activity from January 1, 2016 to March 31, 2016 follows:

					Weighted
					Average
					Grant Date
	Shares				Fair Value
Non-vested restricted stock units outstanding at January 1, 2016		41,686			$	26.22
Granted		—			$	—
Vested		—			$	—
Forfeited		—			$	—
Non-vested restricted stock units outstanding March 31, 2016		41,686			$	26.22

Stock-Settled Performance Units

The total target number of shares with respect to the Stock-Settled Performance Units for the awards in 2012-2015 is set forth below:

	2015				2014				2013				2012
	Performance				Performance				Performance				Performance
	Unit Awards				Unit Awards				Unit Awards				Unit Awards
Target number of shares		190,600				154,000				236,500				192,000

Fair Value of Stock-Settled Performance Units

The fair value of the Stock-Settled Performance Units is set forth below (in thousands):

	2015				2014				2013				2012
	Performance				Performance				Performance				Performance
	Unit Awards				Unit Awards				Unit Awards				Unit Awards
Fair value at date of grant	$	4,052			$	5,388			$	5,564			$	3,065

Compensation Expense Associated with Stock-Settled Performance Units

These fair value amounts are charged to expense on a straight-line basis over the performance period. Compensation expense associated with the Stock-Settled Performance Units is shown below (in thousands):

	2015				2014				2013				2012
	Performance				Performance				Performance				Performance
	Unit Awards				Unit Awards				Unit Awards				Unit Awards
Three months ended March 31, 2016	$	338			$	449			$	464			NA
Three months ended March 31, 2015	NA				$	449			$	464			$	255

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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