XML 56 R41.htm IDEA: XBRL DOCUMENT
v3.8.0.1

STOCK-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The following weighted-average assumptions were used to determine compensation expense related to stock options in 2017, 2016 and 2015:
|  | 2017 |  | 2016 |  | 2015
Risk-free interest rate |  |  | 2.04 | % |  |  | 1.09 | % |  |  | 1.36 | %
Expected dividend yield |  |  | 3.15 | % |  |  | 3.29 | % |  |  | 3.12 | %
Expected term |  |  | 8.0 |  |  |  | 4.3 years |  |  |  | 4.3 years |
Expected volatility |  |  | 19.7 | % |  |  | 21.3 | % |  |  | 21.6 | %
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | The following tables summarize stock option activity under the Company’s plans: ## Stock Options
|  | Years ended December 31,
|  | 2017 |  | 2016 |  | 2015
Stock Options |  | Shares |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price
Outstanding at beginning of year |  |  | 1,486,257 |  |  | $ | 26.13 |  |  |  | 1,351,826 |  |  | $ | 26.09 |  |  |  | 1,355,416 |  |  | $ | 25.36 |
Granted |  |  | 211,200 |  |  |  | 27.94 |  |  |  | 277,800 |  |  |  | 25.51 |  |  |  | 299,700 |  |  |  | 25.64 |
Exercised |  |  | (174,989 | ) |  |  | 24.48 |  |  |  | (123,294 | ) |  |  | 24.28 |  |  |  | (279,090 | ) |  |  | 22.02 |
Forfeited or expired |  |  | (19,975 | ) |  |  | 26.53 |  |  |  | (20,075 | ) |  |  | 26.52 |  |  |  | (24,200 | ) |  |  | 26.58 |
Outstanding at end of year |  |  | 1,502,493 |  |  | $ | 26.57 |  |  |  | 1,486,257 |  |  | $ | 26.13 |  |  |  | 1,351,826 |  |  | $ | 26.09 |
Exercisable at end of year |  |  | 877,131 |  |  | $ | 26.59 |  |  |  | 762,132 |  |  | $ | 26.07 |  |  |  | 594,906 |  |  | $ | 25.55 |
Weighted average fair market value of options granted |  | $ | 4.05 |  |  |  |  |  |  | $ | 3.05 |  |  |  |  |  |  | $ | 3.30 |  |  |  |  |
|  | Weighted Average Remaining Contractual Life (in Years) |  | Aggregate Intrinsic Value
Outstanding – December 31, 2017 |  |  | 3.8 |  |  | $ | 4,733,000 |
Exercisable – December 31, 2017 |  |  | 2.4 |  |  | $ | 2,746,000 |
Schedule of Nonvested Share Activity [Table Text Block] | The aggregate intrinsic value of outstanding and exercisable stock options is defined as the difference between the market value of the Company’s stock on December 29, 2017 of $29.72 and the exercise price multiplied by the number of in-the-money outstanding and exercisable stock options. ## Non-vested Stock Options
Non-vested Stock Options |  | Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Fair Value
Non-vested – December 31, 2014 |  |  | 751,582 |  |  | $ | 26.74 |  |  | $ | 3.12 |
Granted |  |  | 299,700 |  |  |  | 25.64 |  |  |  | 3.30 |
Vested |  |  | (275,187 | ) |  |  | 26.14 |  |  |  | 3.36 |
Forfeited |  |  | (19,175 | ) |  |  | 26.59 |  |  |  | 3.14 |
Non-vested – December 31, 2015 |  |  | 756,920 |  |  | $ | 26.53 |  |  | $ | 3.10 |
Granted |  |  | 277,800 |  |  |  | 25.51 |  |  |  | 3.05 |
Vested |  |  | (293,720 | ) |  |  | 26.39 |  |  |  | 3.13 |
Forfeited |  |  | (16,875 | ) |  |  | 26.37 |  |  |  | 3.10 |
Non-vested – December 31, 2016 |  |  | 724,125 |  |  | $ | 26.20 |  |  | $ | 3.07 |
Granted |  |  | 211,200 |  |  |  | 27.94 |  |  |  | 4.05 |
Vested |  |  | (296,638 | ) |  |  | 26.71 |  |  |  | 3.01 |
Forfeited |  |  | (13,325 | ) |  |  | 26.16 |  |  |  | 3.12 |
Non-vested – December 31, 2017 |  |  | 625,362 |  |  | $ | 26.55 |  |  | $ | 3.43 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | The following table summarizes information about outstanding and exercisable stock options at December 31, 2017:
|  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices |  | Number of Options Outstanding |  | Weighted Average Remaining Contractual Life (in Years) |  | Weighted Average Exercise Price |  | Number of Options Exercisable |  | Weighted Average Exercise Price
$23.53 to $25.86 |  |  | 689,993 |  |  |  | 3.4 |  |  | $ | 25.11 |  |  |  | 350,843 |  |  | $ | 24.67 |
$27.04 to $28.50 |  |  | 812,500 |  |  |  | 4.2 |  |  | $ | 27.81 |  |  |  | 526,288 |  |  | $ | 27.87 |
|  |  | 1,502,493 |  |  |  | 3.8 |  |  | $ | 26.57 |  |  |  | 877,131 |  |  | $ | 26.59 |
Cash Proceeds Received and Tax Benefit from Share-based Payment Awards [Table Text Block] | The following table summarizes stock option activity for the years ended December 31:
|  | 2017 |  | 2016 |  | 2015
|  | (Dollars in thousands)
Total intrinsic value of stock options exercised |  | $ | 618 |  |  | $ | 455 |  |  | $ | 1,705 |
Cash received from stock option exercises |  | $ | 4,284 |  |  | $ | 2,994 |  |  | $ | 6,144 |
Income tax benefit from the exercise of stock options |  | $ | 188 |  |  | $ | 178 |  |  | $ | 665 |
Total fair value of stock options vested |  | $ | 892 |  |  | $ | 919 |  |  | $ | 925 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | ## The following table summarizes restricted stock award activity during the years ended December 31, 2015, 2016 and 2017:
Non-vested Restricted Stock |  | Shares of Restricted Stock |  | Weighted Average Grant Date Fair Value
Non-vested – December 31, 2014 |  |  | 54,050 |  |  | $ | 26.58 |
Issued |  |  | 21,900 |  |  |  | 25.64 |
Vested |  |  | (20,700 | ) |  |  | 25.94 |
Non-vested – December 31, 2015 |  |  | 55,250 |  |  |  | 26.45 |
Issued |  |  | 26,900 |  |  |  | 25.51 |
Vested |  |  | (22,025 | ) |  |  | 26.26 |
Forfeited |  |  | (1,625 | ) |  |  | 26.30 |
Non-vested – December 31, 2016 |  |  | 58,500 |  |  | $ | 26.09 |
Issued |  |  | 30,800 |  |  |  | 27.94 |
Vested |  |  | (23,250 | ) |  |  | 26.54 |
Non-vested – December 31, 2017 |  |  | 66,050 |  |  | $ | 26.79 |

X
- Definition Tabular disclosure of cash received from exercise of stock options and similar instruments granted under share-based payment arrangements and tax benefit from exercise of stock options. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=96867065&loc=SL79508275-113901 + Details
Name: | us-gaap_CashProceedsReceivedAndTaxBenefitFromShareBasedPaymentAwardsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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 of the changes in outstanding nonvested restricted stock units. + 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)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + 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)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
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=96867065&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 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 3: 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=96867065&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=96867065&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration