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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Stock-Based Compensation Expense | A summary of stock-based compensation expense and related tax benefits for the years ended December 31, 2018, 2017 and 2016 is as follows:
| Year Ended December 31, |  |  |  |
| 2018 |  | 2017 |  | 2016
| (in thousands) |  |  |  |
Stock options | $ | 2,989 |  | $ | 3,740 |  | $ | 3,193
Restricted stock units and restricted stock | 2,591 |  | 1,205 |  | 550
Employee Stock Purchase Plan | 320 |  | 1,040 |  | 509
Total pre-tax stock-based compensation expense charged against income 1 | $ | 5,900 |  | $ | 5,985 |  | $ | 4,252
Total recognized tax benefit related to stock-based compensation | $ | 1,480 |  | $ | 5,709 |  | $ | 2,773
1Stock-based compensation expense is recorded in the selling, general and administrative caption in the Consolidated Statements of Comprehensive Income.
Summary of Stock Options Activity | A summary of stock options outstanding under the Plan as of December 31, 2018 and changes during 2018 is as follows:
| Number of Shares |  | Weighted Average Exercise Price
| (in thousands) |  |
December 31, 2017 | 2,374 |  | $ | 29.22
Granted | 169 |  | $ | 52.06
Exercised | (351) |  | $ | 25.12
Forfeited | (65) |  | $ | 35.50
Expired | (6) |  | $ | 27.10
December 31, 2018 | 2,121 |  | $ | 31.53
Assumption for Fair Value of Options Granted | The fair value of the stock option awards granted during 2018, 2017 and 2016 were estimated on the dates of grant using the Black-Scholes option valuation model and the following assumptions:
| Year Ended December 31, |  |  |  |
| 2018 |  | 2017 |  | 2016
Risk-free interest rate | 2.1 | % |  | 2.0 | % |  | 2.0 | %
Weighted average expected life | 5.8 years |  | 5.8 years |  | 5.8 years
Expected volatility | 21.5 | % |  | 25.1 | % |  | 26.0 | %
Dividend yield | 1.5 | % |  | 1.9 | % |  | 2.0 | %
Summarized Information of Stock Options Outstanding | The following table summarizes other information about the stock options at December 31, 2018:
| December 31, 2018
| (amounts in thousands, except per share data)
Outstanding: |
Aggregate intrinsic value | $ | 20,351
Weighted average remaining contractual life | 5.9 years
Exercisable: |
Number of options | 1,051
Weighted average exercise price | $ | 25.20
Aggregate intrinsic value | $ | 15,750
Weighted average remaining contractual life | 4.5 years
Summary of Stock Options Outstanding | A summary of the outstanding restricted stock units and restricted stock as of December 31, 2018 and changes during 2018 is as follows:
| Restricted Stock Units and Restricted Stock |  |
| Number |  | Weighted Average Grant Date Fair Value
| (in thousands) |  |
December 31, 2017 | 145 |  | $ | 37.07
Granted | 139 |  | $ | 52.06
Vested | (36) |  | $ | 35.79
Forfeited | (7) |  | $ | 52.06
December 31, 2018 | 241 |  | $ | 45.47
Weighted Average Grant-Date Fair Values and Intrinsic Values of Options Vested | The weighted average grant-date fair values and total fair values of restricted stock units and restricted stock vested during 2018, 2017 and 2016 are as follows:
| Year Ended December 31, |  |  |  |
| 2018 |  | 2017 |  | 2016
| (in thousands, except per share data) |  |  |  |
Weighted average grant-date fair value of restricted stock units and restricted stock granted | $ | 52.06 |  | $ | 40.16 |  | $ | 34.14
Total fair value of restricted stock units and restricted stock vested | $ | 1,822 |  | $ | 690 |  | $ | 311
Summary of ESPP Annual Offerings | The following table summarizes information about the Company’s ESPP annual offerings for the years ended December 31, 2018, 2017 and 2016:
| Year Ended December 31, |  |  |  |
| 2018 |  | 2017 |  | 2016
| (in thousands, except per share data) |  |  |  |
Common shares purchased | 53 |  | 54 |  | 53
Per common share purchase price | $ | 34.15 |  | $ | 33.29 |  | $ | 29.64
Summary of Information Of SERP | The following table summarizes information about the SERP for the plan years ended December 31, 2018, 2017 and 2016:
| Year Ended December 31, |  |  |  |
| 2018 |  | 2017 |  | 2016
| (in thousands) |  |  |  |
SERP expense 1 | $ | 547 |  | $ | 503 |  | $ | 511
Treasury shares issued to fund SERP expense 2 | 14 |  | 9 |  | 13
SERP trust account balance at December 31 3 | $ | 39,766 |  | $ | 42,467 |  | $ | 34,599
Unrealized gain (loss) recorded in SERP liability account | $ | (1,469) |  | $ | 4,534 |  | $ | 1,495
1Both the SERP match and the deferrals are included in the selling, general and administrative caption in the Consolidated Statements of Comprehensive Income. 2Shares related to the SERP match for each year are funded at the beginning of the subsequent year. 3SERP 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 the Consolidated Balance Sheets represent the value of Company Common Stock held in the Plan participants’ trust accounts and reported by the Company as treasury stock in the Consolidated Balance Sheets.

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- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -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 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5047-113901 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -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 the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure of employee stock purchase plan activity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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