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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2019
Share-based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expense and related tax benefits for the years ended December 31, 2019, 2018 and 2017 was as follows:
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
| (in thousands) |  |  |  |  |
Stock options | $ | 2,623 |  |  | $ | 2,989 |  |  | $ | 3,740 |
Restricted stock units and restricted stock | 3,967 |  |  | 2,591 |  |  | 1,205 |
Employee Stock Purchase Plan | 275 |  |  | 320 |  |  | 1,040 |
Total pre-tax stock-based compensation expense charged against income 1 | $ | 6,865 |  |  | $ | 5,900 |  |  | $ | 5,985 |
Total recognized tax benefit related to stock-based compensation | $ | 196 |  |  | $ | 1,480 |  |  | $ | 5,709 |
1.Stock-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, 2019 and changes during 2019 is as follows:
| Number of Shares |  | Weighted Average Exercise Price
| (in thousands) |  |  |
December 31, 2018 | 2,121 |  |  | $ | 31.53 |
Granted | 188 |  |  | $ | 40.49 |
Exercised | (163) |  |  | $ | 22.32 |
Forfeited | (23) |  |  | $ | 36.49 |
Expired | (16) |  |  | $ | 31.37 |
December 31, 2019 | 2,107 |  |  | $ | 32.99 |
Assumption for Fair Value of Options Granted | The fair value of the stock option awards granted during 2019, 2018 and 2017 were estimated on the dates of grant using the Black-Scholes option valuation model and the following assumptions:
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
Risk-free interest rate | 2.5 | % |  | 2.1 | % |  | 2.0 | %
Weighted average expected life | 5.7 years |  | 5.8 years |  | 5.8 years
Expected volatility | 22.6 | % |  | 21.5 | % |  | 25.1 | %
Dividend yield | 1.9 | % |  | 1.5 | % |  | 1.9 | %
Summarized Information of Stock Options Outstanding | The following table summarizes other information about the stock options at December 31, 2019:
| December 31, 2019
| (amounts in thousands, except per share data)
Outstanding: |
Aggregate intrinsic value | $ | 2,121 |
Weighted average remaining contractual life | 5.4 years
Exercisable: |
Number of options | 1,256 |
Weighted average exercise price | $ | 28.45 |
Aggregate intrinsic value | $ | 2,121 |
Weighted average remaining contractual life | 4.3 years
Summary of Stock Options Outstanding | A summary of the outstanding restricted stock units and restricted stock as of December 31, 2019 and changes during 2019 is as follows:
| Restricted Stock Units and Restricted Stock |  |
| Number |  | Weighted Average Grant Date Fair Value
| (in thousands) |  |  |
December 31, 2018 | 241 |  |  | $ | 45.47 |
Granted | 194 |  |  | $ | 40.49 |
Vested | (61) |  |  | $ | 43.04 |
Forfeited | (12) |  |  | $ | 44.47 |
December 31, 2019 | 362 |  |  | $ | 43.24 |
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 2019, 2018 and 2017 were as follows:
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
| (in thousands, except per share data) |  |  |  |
Weighted average grant-date fair value of restricted stock units and restricted stock granted | $ | 40.49 |  |  | $ | 52.06 |  |  | $ | 40.16 |
Total fair value of restricted stock units and restricted stock vested | $ | 2,399 |  |  | $ | 1,822 |  |  | $ | 690 |
Summary of ESPP Annual Offerings | The following table summarizes information about the Company’s ESPP annual offerings for the years ended December 31, 2019, 2018 and 2017:
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
| (in thousands, except per share data) |  |  |  |
Common shares purchased | 75 |  |  | 53 |  |  | 54 |
Per common share purchase price | $ | 20.67 |  |  | $ | 34.15 |  |  | $ | 33.29 |
Summary of Information Of SERP | The following table summarizes information about the SERP for the plan years ended December 31, 2019, 2018 and 2017:
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
| (in thousands) |  |  |  |  |
SERP expense 1 | $ | 539 |  |  | $ | 547 |  |  | $ | 503 |
Treasury shares issued to fund SERP expense 2 | 22 |  |  | 14 |  |  | 9 |
SERP trust account balance at December 31 3 | $ | 43,952 |  |  | $ | 39,766 |  |  | $ | 42,467 |
Unrealized gain (loss) recorded in SERP liability account | $ | 7,353 |  |  | $ | (1,469) |  |  | $ | 4,534 |
1.Both the SERP match and the deferrals are included in the selling, general and administrative caption in the Consolidated Statements of Comprehensive Income. 2.Shares related to the SERP match for each year are funded at the beginning of the subsequent year. 3.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 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 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=116856206&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=116856206&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 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=116856206&loc=d3e5070-113901 + Details
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