XML 45 R33.htm IDEA: XBRL DOCUMENT v3.3.1.900

Stockholders' Equity and Stock Plans (Tables)

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

A summary of activity for stock options for the years ended December 31, 2015, 2014 and 2013 is presented below. The intrinsic value of options outstanding and exercisable is calculated as the number of in-the-money options times the difference between the market price of our stock as of each year end presented and the exercise prices of the in-the-money options.

												Weighted
												Average
			Weighted						Weighted			Remaining
			Average			Aggregate			Average			Contractual
	Number of		Exercise			Intrinsic Value			Grant-Date			Term
	Shares		Price			(in thousands)			Fair Value			(in years)
Options outstanding at December 31, 2012	285,533		$	31.73		$	1,661					4.43
Granted	30,000		39.99						$	10.59
Cancelled, expired or forfeited	(23,840	)	35.12
Exercised	(71,237	)	31.13			664
Options outstanding at December 31, 2013	220,456		32.74			2,349						4.05
Exercisable (vested) at December 31, 2013	163,301		31.09			2,008						2.56
Options outstanding at December 31, 2013	220,456		32.74			2,349						4.05
Granted	26,421		44.83						12.04
Cancelled, expired or forfeited	(2,790	)	39.01
Exercised	(49,415	)	29.39			771
Options outstanding at December 31, 2014	194,672		35.14			3,398						4.48
Exercisable (vested) at December 31, 2014	133,153		32.31			2,701						2.88
Options outstanding at December 31, 2014	194,672		35.14			3,398						4.48
Granted	28,320		50.70						12.21
Cancelled, expired or forfeited	(652	)	48.38
Exercised	(37,071	)	30.72			755
Options outstanding at December 31, 2015	185,269		38.35			2,788						5.00
Exercisable (vested) at December 31, 2015	114,581		34.12			2,209						3.21

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding

The following table shows the number, weighted average exercise price, intrinsic value, and weighted average remaining contractual life of options outstanding, vested and expected to vest as of December 31, 2015.

Number of options	179,883
Weighted average exercise price	$	38.14
Aggregate intrinsic value (in thousands)	$	2,745
Weighted average remaining contractual term (in years)	4.91

Schedule of Unrecognized Compensation Cost, Nonvested Awards

The following table summarizes non-vested restricted stock awards and changes during the years ended December 31, 2015, 2014 and 2013.

	Restricted Stock Awards
			Weighted
			Average
	Number of		Grant-Date
	Shares		Fair Value
Non-vested awards at December 31, 2012	21,610		$	34.05
Granted	11,850		39.96
Vested	(6,941	)	31.42
Forfeited	(3,998	)	36.19
Non-vested awards at December 31, 2013	22,521		37.59
Non-vested awards at December 31, 2013	22,521		$	37.59
Granted	8,523		45.36
Vested	(6,554	)	34.65
Forfeited	(2,067	)	39.32
Non-vested awards at December 31, 2014	22,423		41.25
Non-vested awards at December 31, 2014	22,423		$	41.25
Granted	15,970		50.75
Vested	(6,555	)	40.00
Forfeited	(450	)	48.45
Non-vested awards at December 31, 2015	31,388		46.24

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

A summary of the options outstanding and exercisable by price range as of December 31, 2015 is presented in the following table:

	Stock Options Outstanding as of December 31, 2015							Stock Options Exercisable as of December 31, 2015
			Remaining	Weighted						Weighted
	Stock Options		Contractual Life	Average				Stock Options		Average
Range of Exercise Prices	Outstanding		(in years)	Exercise Price				Exercisable		Exercise Price
$20.01 - $25.00	13,138		3.3	$	22.25			13,138		$	22.25
$25.01 - $30.00	10,180		2.3	28.75				10,180		28.75
$30.01 - $35.00	41,270		1.3	33.67				41,270		33.67
$35.01 - $40.00	50,630		4.8	37.50				35,663		37.02
$40.01 - $45.00	29,551		6.9	41.95				11,220		41.89
$45.01 - $50.00	12,550		8.3	45.88				2,510		45.88
$45.01 - $50.00	27,950		9.2	50.70				600		50.27
	185,269		5.0	38.35				114,581		34.12

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The expected term of options granted is derived from historical data on employee exercise and post-vesting employment termination behavior. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. Expected volatility is based on the historical volatility of the common stock over the most recent period that is generally commensurate with the expected life of the options. The weighted-average assumptions used in the pricing model are noted in the table below.

	Years ended December 31,
	2015		2014		2013
Risk-free interest rate	1.67	%	2.04	%	1.60	%
Expected dividend yield on common stock	1.75	%	1.70	%	1.80	%
Expected life in years	6.0		6.0		6.8
Expected price volatility	28.06	%	30.32	%	30.01	%

Summary of Cash Dividends Paid to Common Shareholders

Presented below is a summary of cash dividends paid to common shareholders, recorded as a reduction of retained earnings.

	Years ended December 31,
(in thousands except per share data)	2015			2014			2013
Cash dividends to common stockholders	$	5,390		$	4,733		$	3,970
Cash dividends per common share	$	0.90		$	0.80		$	0.73

X

- Definition

Tabular disclosure of information related to dividends declared, including paid and unpaid dividends.

+ References

No definition available.

+ Details

Name:	us-gaap_DividendsDeclaredTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_EquityAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the following for fully vested share options (or share units) and share options expected to vest at the date of the latest statement of financial position: the number, weighted-average exercise price (or conversion ratio), aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term of options (or share units) outstanding.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&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 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the total compensation cost related to nonvested awards not yet recognized and the weighted-average period over which it is expected to be recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration