Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Certain Information Related to Stock Options and Restricted Stock

The following table provides certain information related to Stock Options and Restricted Stock during the year ended December 31, 2014 (in thousands, except per share data):

	For the year ended December 31, 2014
	Stock Options									Restricted Stock
				Weighted									Weighted
				Average				Weighted					Average
				Exercise		Aggregate		Average					Grant Date
	Number of			Price per		Intrinsic		Remaining		Number of			Fair Value
	Options			Share (1)		Value		Term		Shares (2)			per Share (1)
Outstanding as of December 31, 2013		4,125		$	5.56						1,600		$	4.94
Granted		230			15.81						950			12.88
Forfeited		(50	)		4.51					n/a			n/a
Exercised		(1,900	)		4.93					n/a			n/a
Vested	n/a			n/a							(1,875	)		6.28
Expired		—			—					n/a			n/a
Outstanding as of December 31, 2014		2,405		$	6.99	$	32,362		3.88		675		$	12.40
Exercisable as of December 31, 2014		962		$	4.93	$	14,926		3.02

(1)

Unless otherwise specified, such as in the case of the exercise of Stock Options, the per share prices were determined using the closing price of the Company’s Common Stock as quoted on the exchanges on which the Company was listed. Shares issued upon exercise of options represent original issuances in private transactions pursuant to Section 4(2) of the Securities Act of 1933, as amended or issuances under the Company's Incentive Plan.

(2)	All shares outstanding as of December 31, 2014 are expected to vest.

n/a	Not applicable

Certain Information Regarding Company's Share-Based Compensation

The following table provides certain information in connection with the Company’s share-based compensation arrangements for the periods presented (in thousands):

	Year Ended December 31,
	2014		2013			2012
Compensation expense:
Stock options	$	675	$	930		$	1,188
Restricted stock		11,667		5,487			2,642
Total	$	12,342	$	6,417		$	3,830
Deferred tax benefits:
Stock options	$	260	$	359		$	458
Restricted stock		83		433			468
Total	$	343	$	792		$	926
Realized tax benefits:
Stock options	$	7,321	$	2,365		$	168
Restricted stock		967		374			291
Total	$	8,288	$	2,739		$	459
Excess tax benefits (shortfall):
Stock options	$	6,472	$	418		$	(1,618	)
Restricted stock		534		(59	)		(142	)
Total	$	7,006	$	359		$	(1,760	)
Weighted average fair value per option or share:
Stock option grants	$	3.39	$	0.79		$	0.87
Restricted stock grants	$	12.88	$	5.43		$	3.37
Intrinsic value of options exercised	$	18,979	$	6,131		$	437
Fair value of restricted stock vested	$	28,350	$	2,548		$	1,164
Cash received for strike price and tax withholdings	$	73	$	—		$	652
Shares acquired through cashless exercise (1)		1,787		1,966			147
Value of shares acquired through cashless exercise (1)	$	26,947	$	12,630		$	583

(1)	All shares acquired represent shares tendered to cover the strike price for options and tax withholdings on the intrinsic value of options exercised or Restricted Stock vested. These shares have been cancelled by the Company.

Unrecognized Compensation Expense and Weighted Average Period

The following table provides the amount of unrecognized compensation expense as of the most recent balance sheet date and the weighted average period over which those expenses will be recorded for both Stock Options and Restricted Stock (dollars in thousands):

	As of December 31, 2014
	Stock		Restricted
	Options		Stock
Unrecognized expense	$	1,485	$	3,413
Weighted average remaining years		2.40		0.62

Summary of Assumptions Utilized in the Black-Scholes Model for Stock Options Granted

The following table provides the assumptions utilized in the Black-Scholes model for Stock Options granted during the periods presented:

	Year Ended December 31,
	2014			2013			2012
Weighted-average risk-free interest rate		0.48	%		0.27	%		0.62	%
Expected term of option in years		2.98			3.21			4.25
Weighted-average volatility		40.3	%		34.1	%		48.4	%
Dividend yield		3.9	%		9.1	%		11.4	%
Weighted average grant date fair value per share	$	3.39		$	0.79		$	0.87