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Stock Plans and Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of stock options and stock appreciation rights

The following table presents the activity related to stock options and SARs under all plans for the year ended December 31, 2016.  

	Number of Shares/Rights			Weighted Average Exercise Price				Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at January 1, 2016	441,016			$	42.46
Granted	19,946			77.00
Exercised	(107,528	)		38.77
Forfeited	(14,918	)		45.00
Outstanding at December 31, 2016	338,516			$	45.56			5.56		$	16,582,002
Exercisable at December 31, 2016	155,046			$	39.43			3.17		$	8,544,305

Schedule of total stock options exercised

ash proceeds, tax benefits and intrinsic value related to total stock options, SARs, and restricted stock exercised is as follows: 

(in thousands)	2016				2015				2014
Net proceeds from stock option exercises	$	(806	)		$	1,382			$	1,512
Tax benefits related to stock option and SAR exercises and vesting of restricted shares	1,433				358				234
Intrinsic value of stock option exercises	3,718				3,014				2,112

Schedule of valuation model estimates fair value based on the assumptions

The fair values of the grants are expensed over the vesting periods.

	2016				2015				2014
Weighted per share average fair value at grant date	$	12.88			$	8.96			$	8.32
Risk-free interest rate	1.57		%		1.80		%		1.91		%
Expected dividend yield	3.00		%		3.80		%		5.14		%
Volatility	24.58		%		25.32		%		30.96		%
Expected life (years)	5.50				6.00				6.00

Schedule of options outstanding

December 31, 2016
Options and SARs Outstanding							Options and SARs Exercisable
Range of Exercise Prices		Number Outstanding			Weighted Average Remaining Contractual Life		Weighted Average Exercise Price				Number Exercisable			Weighted Average Exercise Price
$13.00-20.00		626			2.96		$	16.47			626			$	16.47
$20.01-29.30		2,985			4.23		$	22.03			2,985			$	22.03
$29.31-35.70		1,295			1.96		$	30.96			1,295			$	30.96
$35.71-37.50		99,466			3.07		$	37.12			71,706			$	37.16
$37.51-41.00		41,003			6.34		$	40.60			9,755			$	40.60
$41.01-50.00		126,295			5.47		$	45.71			68,679			$	42.76
$50.01-60.00		46,900			8.84		$	56.29			0			$	0
$60.01-86.18		19,946			9.86		$	77.00			0			$	0
		338,516			5.56		$	45.56			155,046			$	39.43

Schedule of restricted stock awards

The following table presents activity related to restricted stock awards for the twelve months ended December 31, 2016. 

	Number of Shares			Weighted Average Exercise Price
Unvested at January 1, 2016	247,347			$	47.57
Granted	53,770			76.93
Vested	(36,030	)		73.99
Forfeited	(13,371	)		46.88
Unvested at December 31, 2016	251,716			$	54.46

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Tabular disclosure of the amount of cash proceeds received from the exercise of stock options and similar instruments granted under share-based payment arrangements and the tax benefit realized from stock options exercised during the period. Disclosure may also include the intrinsic value of stock options exercised during the period.

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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.

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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.

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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.

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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.

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