XML 18 R25.htm IDEA: XBRL DOCUMENT
v3.19.3

Stock Option Plans (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2019
Share-based Payment Arrangement [Abstract] |
Stock Options Issued | The following table summarizes the assumptions used in the valuation of the 2018 and 2019 option grants. During the nine months ended September 30, 2019, stock option expense totaling $1.3 million was included in general and administrative expense in the Consolidated Statements of Operations. As of September 30, 2019, the estimated future expense related to unvested stock options was $2.9 million.
| Directors |  | Officers
Grant date | May 11, 2018 | May 3, 2019 |  | May 11, 2018 | May 3, 2019
Exercise price | $ | 49.46 |  | $ | 55.71 |  |  | $ | 49.46 |  | $ | 55.71 |
Volatility | 0.192 |  | 0.236 |  |  | 0.177 |  | 0.206 |
Expected life (years) | 5.0 |  | 5.0 |  |  | 7.0 |  | 7.0 |
Assumed yield | 3.70 | % | 3.75 | % |  | 3.75 | % | 3.80 | %
Risk-free rate | 2.84 | % | 2.33 | % |  | 2.94 | % | 2.43 | %
Summary of Option Activity | The table below summarizes the option activity for the nine months ended September 30, 2019:
|  | Number of Shares |  | Weighted Average Exercise Price per share |  | Aggregate Intrinsic Value
Outstanding at January 1 |  | 1,114,169 |  |  | $ | 52.40 |  |  | $ | 543,662 |
Granted |  | 260,000 |  |  | 55.71 |  |  | — |
Exercised |  | (47,055 | ) |  | 45.11 |  |  | 512,322 |
Expired/Forfeited |  | (7,500 | ) |  | 56.07 |  |  | — |
Outstanding at September 30 |  | 1,319,614 |  |  | 53.29 |  |  | 3,712,807 |
Exercisable at September 30 |  | 773,614 |  |  | 52.29 |  |  | 2,889,025 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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=116856206&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=116856206&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=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in stock options. + References No definition available. + Details
Name: | us-gaap_ScheduleOfStockOptionsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration