Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

A summary of the RSUs for the three months ended March 31, 2015 is as follows:


	Restricted Share Units
	Performance and Service Required		Service Required		Total Restricted Share Units		Weighted-Average Grant-Date Fair Value
Nonvested as of January 1, 2015		88,508		10,413		98,921	$	67.36
Granted		50,927		6,073		57,000		45.85
Vested		0		0		0		0.00
Forfeited		0		0		0		0.00

Nonvested as of March 31, 2015		139,435		16,486		155,921	$	59.50

Weighted-Average Assumptions for Estimating Fair Values

The fair value for the stock options granted in 2014 was estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:


	2014
Risk-free interest rate		1.7	%
Dividend yield		1.7	%
Expected life (years)		5
Expected volatility		45.8	%

Long Term Incentive Plan [Member]

Activity in Company's Plan

Activity in the Company’s LTIP plan for three months ended March 31, 2015 was as follows:


	Number of Shares		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at January 1, 2015		47,750	$	58.11
Granted		0	$	0.00
Exercised		0	$	0.00
Forfeited		0	$	0.00

Outstanding (vested and expected to vest) at March 31, 2015		47,750	$	58.11		8.6	$	0

Exercisable at March 31, 2015		20,500	$	60.32		7.5	$	0

Stock Options [Member]

Activity in Company's Plan

Activity in the Company’s 1999 Stock Option Plan for the three months ended March 31, 2015 was as follows:


	Number of Shares		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at January 1, 2015		12,000	$	41.44
Granted		0	$	0.00
Exercised		0	$	0.00
Forfeited		0	$	0.00

Outstanding (exercisable and vested) at March 31, 2015		12,000	$	41.44		2.6	$	47