XML 29 R18.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Stock-Based Compensation | 6 Months Ended
--- | ---
Jun. 30, 2017
Share-based Compensation [Abstract] |
Share-based Compensation | STOCK-BASED COMPENSATION The Company applies the provisions of FASB ASC 718, “Compensation – Stock Compensation,” to account for the Company’s stock-based compensation. Stock-based compensation cost is measured at the grant date based on the calculated fair value of the award and is recognized over the employees’ requisite service period. The Company recorded stock compensation expense of $558 and $807 for the three-month periods ended June 30, 2017 and 2016, respectively, related to fully-vested stock awards, restricted stock awards, and performance unit awards. Stock compensation expense of $725 and $555 was recorded for the six-month periods ended June 30, 2017 and 2016, respectively. At June 30, 2017, unrecognized compensation expense for awards that the Company expects to vest approximated $4,043. The Company will recognize this expense over the upcoming 3.75 years through March 2021. Shares issued as a result of vested stock-based compensation generally will be from previously issued shares that have been reacquired by the Company and held as Treasury stock or authorized and previously unissued common stock. During the six months ended June 30, 2017, the Company recognized a tax deficiency of $116 related to stock-based compensation, which was fully offset by a valuation allowance, and $124 for the six months ended June 30, 2016. Applying the prospective approach to ASU 2016-09, the change in excess income tax deficiency has been included in cash flows from operating activities for the six months ended June 30, 2017 in the Condensed Consolidated Statements of Cash Flows. Restricted Stock Awards and Performance Unit Awards Under the 2006 Omnibus Plan, the Company grants eligible employees restricted stock and performance unit awards. The forfeitable restricted stock awards granted prior to March 2015 generally time-vest after a four-year period, and those granted subsequent to March 2015 generally time-vest ratably over a three-year period, unless indicated otherwise by the underlying restricted stock agreement. Performance unit awards are offered annually under separate three-year long-term incentive programs. Performance units are subject to forfeiture and will be converted into common stock of the Company based upon the Company’s performance relative to performance measures and conversion multiples as defined in the underlying program. If the Company’s estimate of the number of performance stock awards expected to vest changes in a subsequent accounting period, cumulative compensation expense could increase or decrease. The change will be recognized in the current period for the vested shares and would change future expense over the remaining vesting period. During the quarter ended June 30, 2017, the Nomination and Governance Committee and Board of Directors jointly approved the Deferred Compensation Plan for Non-Employee Directors under the 2006 Omnibus Incentive Plan, which permits Non-Employee Directors of the Company to defer receipt of earned compensation for serving on the Board. During the quarter ended March 31, 2017, the Compensation Committee approved the 2017 Performance Share Unit Program and the Executive Annual Incentive Compensation Plan (consisting of cash and equity components). The Compensation Committee also certified the actual performance achievement of participants in the 2014 Performance Share Unit Program. Actual performance resulted in no payout relative to the 2014 Performance Share Unit Program target performance metrics. The following table summarizes the restricted stock award, deferred stock award, and performance unit award activity for the period ended June 30, 2017:
|  | Restricted Stock |  | Deferred Stock |  | Performance Stock Units |  | Weighted Average Grant Date Fair Value
Outstanding at December 31, 2016 |  | 79,272 |  |  | — |  |  | 63,690 |  |  | $ | 21.66 |
Granted |  | 167,404 |  |  | 20,175 |  |  | 112,208 |  |  | 14.06 |
Vested |  | (21,808 | ) |  | — |  |  | — |  |  | 28.08 |
Adjustment for incentive awards expected to vest |  | — |  |  | — |  |  | 3,871 |  |  | 17.86 |
Cancelled |  | (31,766 | ) |  | — |  |  | (35,274 | ) |  | 14.26 |
Outstanding at June 30, 2017 |  | 193,102 |  |  | 20,175 |  |  | 144,495 |  |  | $ | 16.37 |

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ShareBasedCompensationAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration