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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Stock-Based Compensation Expense | A summary of stock-based compensation expense for the years ended December 31, 2014, 2013 and 2012 is as follows:
| December 31,
| 2014 |  | 2013 |  | 2012
Stock Options | $ | 2,596,000 |  |  | $ | 2,017,000 |  |  | $ | 1,897,000 |
Restricted Stock | 109,000 |  |  | 28,000 |  |  | — |
Employee Stock Purchase Plan ("ESPP") | 375,000 |  |  | 562,000 |  |  | 641,000 |
Total pre-tax stock-based compensation expense charged against income (1) | $ | 3,080,000 |  |  | $ | 2,607,000 |  |  | $ | 2,538,000 |
(1) | Stock-based compensation expense is recorded in the selling, general and administrative caption in our consolidated statements of comprehensive income.
Summary of Stock Options Activity | Other information pertaining to activity of our stock awards during the years ended December 31, 2014, 2013 and 2012 was as follows:
| 2014 |  | 2013 |  | 2012
Total grant-date fair value of stock awards granted | $ | 4,268,000 |  |  | $ | 3,412,000 |  |  | $ | 2,438,000 |
Total fair value of stock awards vested during period | $ | 2,051,000 |  |  | $ | 1,897,000 |  |  | $ | 1,409,000 |
Total unrecognized compensation expense related to non-vested stock awards | $ | 6,492,000 |  |  | $ | 4,963,000 |  |  | $ | 3,999,000 |
A summary of our stock option activity under the 2012 Plan is as follows:
| 2014 |  | 2013 |  | 2012
| Weighted Average Exercise Price |  | Number of Shares |  | Weighted Average Exercise Price |  | Number of Shares |  | Weighted Average Exercise Price |  | Number of Shares
Beginning of period | $ | 16.05 |  |  | 2,483,000 |  |  | $ | 13.18 |  |  | 2,632,000 |  |  | $ | 10.97 |  |  | 2,912,000 |
Granted | 28.02 |  |  | 535,000 |  |  | 23.50 |  |  | 564,000 |  |  | 17.50 |  |  | 601,000 |
Cancelled | 21.95 |  |  | (122,000 | ) |  | 18.18 |  |  | (88,000 | ) |  | 14.53 |  |  | (134,000 | )
Exercised | 11.66 |  |  | (534,000 | ) |  | 10.37 |  |  | (625,000 | ) |  | 7.81 |  |  | (747,000 | )
End of period | $ | 19.45 |  |  | 2,362,000 |  |  | $ | 16.05 |  |  | 2,483,000 |  |  | $ | 13.18 |  |  | 2,632,000 |
Summary of Non-Vested Stock-Based Compensation | A summary of our non-vested stock-based compensation is as follows:
| 2014 |  | 2013 |  | 2012
| Weighted Average Grant Date Fair Value |  | Number of Non-vested Shares |  | Weighted Average Grant Date Fair Value |  | Number of Non-vested Shares |  | Weighted Average Grant Date Fair Value |  | Number of Non-vested Shares
Beginning of period | $ | 4.72 |  |  | 1,559,000 |  |  | $ | 3.45 |  |  | 1,592,000 |  |  | $ | 2.69 |  |  | 1,489,000 |
Granted | 8.24 |  |  | 535,000 |  |  | 6.81 |  |  | 564,000 |  |  | 4.74 |  |  | 601,000 |
Vested | 3.90 |  |  | (517,000 | ) |  | 3.09 |  |  | (518,000 | ) |  | 2.61 |  |  | (423,000 | )
Forfeited | 6.05 |  |  | (112,000 | ) |  | 4.77 |  |  | (79,000 | ) |  | 2.92 |  |  | (75,000 | )
End of period | $ | 6.17 |  |  | 1,465,000 |  |  | $ | 4.72 |  |  | 1,559,000 |  |  | $ | 3.45 |  |  | 1,592,000 |
Summarized Information of Stock Options Outstanding | The following table summarizes other information about our outstanding stock options at December 31, 2014, 2013 and 2012.
Stock Options |  | 2014 |  | 2013 |  | 2012
Range of exercise prices |  | $10.39 - $28.02 |  |  | $6.07 - 23.50 |  |  | $3.68 - 17.50 |
Outstanding: |  |  |  |  |  |
Weighted average remaining contractual life (years) |  | 6.7 |  |  | 6.5 |  |  | 6.3 |
Aggregate intrinsic value |  | $ | 27,118,000 |  |  | $ | 30,599,000 |  |  | $ | 26,472,000 |
Exercisable: |  |  |  |  |  |
Number of shares |  | 895,000 |  |  | 922,000 |  |  | 1,040,000 |
Weighted average remaining contractual life (years) |  | 5.1 |  |  | 4.5 |  |  | 4.2 |
Aggregate intrinsic value |  | $ | 14,457,000 |  |  | $ | 15,053,000 |  |  | $ | 13,934,000 |
Exercised: |  |  |  |  |  |
Aggregate intrinsic value |  | $ | 9,303,000 |  |  | $ | 9,139,000 |  |  | $ | 10,465,000 |
Assumption for Fair Value of Options Granted | The fair value of stock awards granted during 2014, 2013 and 2012 was estimated on the date of grant using the Black-Scholes option valuation model based on the following assumptions:
| 2014 |  | 2013 |  | 2012
Risk-free interest rate | 1.90% |  | 1.50% |  | 1.30%
Weighted average expected life in years | 5.9 years |  | 6.0 years |  | 6.8 years
Expected volatility | 36.9% |  | 38.9% |  | 39.2%
Dividend yield | 2.40% |  | 2.80% |  | 3.60%
Forfeiture rate | 3.00% |  | 3.00% |  | 2.90%
Summary of ESPP Annual Offerings | The following table summarizes information about our ESPP annual offerings for the years ended December 31, 2014, 2013 and 2012:
| ESPP Annual Offering
| 2014 |  | 2013 |  | 2012
Common shares purchased | 55,000 |  |  | 65,000 |  |  | 79,000 |
Per common share purchase price | $ | 24.11 |  |  | $ | 19.75 |  |  | $ | 15.04 |
Amount expensed under ESPP | $ | 375,000 |  |  | $ | 562,000 |  |  | $ | 641,000 |
Net proceeds from issuance | $ | 1,326,000 |  |  | $ | 1,288,000 |  |  | $ | 1,192,000 |
Common shares date of issue | Jan 7, 2015 |  |  | Jan 3, 2014 |  |  | Jan 4, 2013 |
Summary of Information Of SERP | The following table summarizes information about our SERP for the plan years ended December 31, 2014, 2013 and 2012:
| SERP Plan Year
| 2014 |  | 2013 |  | 2012
Amount of company match expensed under SERP | $ | 497,000 |  |  |  |  | $ | 538,000 |  |  |  |  | $ | 560,000 |  |  |
Treasury shares issued to fund SERP expense | 16,000 |  |  |  |  | 19,000 |  |  |  |  | 24,000 |  |  |
SERP trust account balance at December 31 | $ | 35,310,000 |  |  | (1) |  | $ | 31,415,000 |  |  | (1) |  | $ | 24,997,000 |  |  | (1)
Unrealized gain (loss) recorded in SERP liability account | $ | 1,211,000 |  |  |  |  | $ | 3,005,000 |  |  |  |  | $ | 1,718,000 |  |  |
(1) | SERP trust account investments are recorded at their fair value which is based on quoted market prices. Differences between such amounts in the table above and the deferred compensation funding asset reported on our Consolidated Balance Sheets represent the value of our Common Stock held in the Plan’s participants’ trust account and reported by us as treasury stock in our Consolidated Balance Sheets.

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- Definition Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability. + References Reference 1: 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 2: 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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -SubTopic 10 -Section 30 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6409875&loc=d3e20015-108363 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -SubTopic 10 -Section 55 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6409961&loc=d3e20487-108367 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -SubTopic 10 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6409961&loc=d3e20517-108367 + Details
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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: 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 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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