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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Share-based Compensation [Abstract]  
Assumptions used for the grants
The following table illustrates the valuation assumptions used for the 2016, 2015 and 2014 grants:
 
2016
 
2015
 
2014
Expected volatility
29 - 32%
 
32 - 36%
 
47 - 50%
Weighted-average expected volatility
32%
 
36%
 
50%
Expected dividend yield
1.3 - 1.5%
 
1.1 - 1.2%
 
1.1 - 1.3%
Weighted-average expected dividend yield
1.3%
 
1.2%
 
1.3%
Expected term, in years
5
 
5
 
6
Risk-free interest rate
1.1 - 1.4%
 
1.4 - 1.6%
 
1.8 - 2.0%
Stock option activity
The following table summarizes the activity during the year ended December 31, 2016 for stock option awards:
 
Shares
 
Weighted-Average Exercise Price
Outstanding at beginning of year
1,018,958

 
$
39.69

Granted
258,895

 
52.80

Exercised
(135,744
)
 
38.82

Forfeited
(23,028
)
 
59.46

Expired
(5,699
)
 
60.26

Outstanding at end of year
1,113,382

 
$
42.34

Exercisable at end of year
736,650

 
$
34.75
Nonvested restricted share awards activity
The following table summarizes the activity during the year ended December 31, 2016 for nonvested restricted share awards:
 
Shares
 
Weighted-Average Grant Date Fair Value
Nonvested at beginning of year
138,819

 
$
43.83

Granted
27,921

 
53.02

Vested
(49,306
)
 
39.96

Forfeited
(200
)
 
61.26

Nonvested at end of year
117,234

 
$
47.62
Nonvested performance share awards activity
The following table summarizes the activity during the year ended December 31, 2016 for nonvested performance share awards:
 
Shares
 
Weighted-Average Grant Date Fair Value
Nonvested at beginning of year
141,374

 
$
56.07

Granted
58,454

 
52.56

Vested
(36,054
)
 
47.25

Forfeited
(34,678
)
 
47.30

Nonvested at end of year
129,096

 
$
59.30
Nonvested restricted stock units activity
The following table summarizes the activity during the year ended December 31, 2016 for nonvested restricted stock units:
 
Shares
 
Weighted-Average Grant Date Fair Value
Nonvested at beginning of year
32,646

 
$
66.89

Granted
15,450

 
54.35

Vested
(13,190
)
 
68.80

Forfeited
(3,868
)
 
61.83

Nonvested at end of year
31,038

 
$
60.47