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EQUITY (Tables)
12 Months Ended
Dec. 31, 2018
EQUITY  
Schedule of shares repurchased

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aggregate

 

 

 

 

 

 

Shares

 

Cost

 

Average

 

Year ended December 31, 

    

Repurchased

    

(in thousands)

    

Repurchase Price

 

2018

 

30,427

 

$

1,577

 

$

51.82

 

2017

 

201,932

 

 

10,636

 

 

52.67

 

2016

 

32,407

 

 

2,195

 

 

64.72

 

 

Schedule of repurchases of shares from employees to satisfy tax withholding and stock exercise obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aggregate

 

 

 

 

 

 

Shares

 

Cost

 

Average

 

Year ended December 31, 

    

Repurchased

    

(in thousands)

    

Repurchase Price

 

2018

 

141,180

 

$

10,859

 

$

76.76

 

2017

 

32,814

 

 

2,348

 

 

71.54

 

2016

 

38,279

 

 

2,775

 

 

72.50

 

 

Summary of stock option activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2018

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

Weighted Avg.

 

Remaining

 

 

 

 

 

 

Number of

 

Exercise

 

Contractual

 

Aggregate

 

 

    

Options

    

Price

    

Term (Years)

    

Intrinsic Value

 

Outstanding at January 1, 2018

 

200,021

 

$

41.76

 

 

 

 

 

 

Granted

 

 —

 

 

 —

 

 

 

 

 

 

Exercised

 

(158,021)

 

 

39.95

 

 

 

 

 

 

Outstanding at December 31, 2018

 

42,000

 

 

48.61

 

4.1

 

$

823,515

 

Vested and expected to vest at December 31, 2018

 

42,000

 

 

48.61

 

4.1

 

$

962,840

 

Exercisable at December 31, 2018

 

33,250

 

 

46.76

 

3.0

 

$

823,515

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2017

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

 

 

 

 

 

Number of

 

Weighted Avg.

 

Contractual

 

Aggregate

 

 

    

Options

    

Exercise Price

    

Term (Years)

    

Intrinsic Value

 

Outstanding at January 1, 2017

 

225,822

 

$

39.77

 

 

 

 

 

 

Granted

 

10,000

 

 

52.97

 

 

 

 

 

 

Exercised

 

(35,801)

 

 

32.29

 

 

 

 

 

 

Outstanding at December 31, 2017

 

200,021

 

 

41.76

 

3.6

 

$

2,780,253

 

Vested and expected to vest at December 31, 2017

 

200,021

 

 

41.76

 

3.6

 

$

2,780,253

 

Exercisable at December 31, 2017

 

187,521

 

 

40.77

 

3.6

 

$

2,757,353

 

 

Summary of information relating to options granted and exercised

The following table summarizes information relating to options granted and exercised during the years ended December 31, 2018, 2017 and 2016 (in thousands, except fair value of options granted data):

 

 

 

 

 

 

 

 

 

 

 

 

    

2018

    

2017

    

2016

 

Weighted-average fair value of options granted

 

$

 —

 

$

13.77

 

$

 —

 

Aggregate intrinsic value of options exercised

 

 

5,927

 

 

936

 

 

1,591

 

Cash proceeds received upon exercise of options

 

 

72

 

 

1,030

 

 

649

 

Excess tax benefits from share-based compensation

 

 

 —

 

 

 —

 

 

591

 

 

Schedule of weighted-average assumptions using Black-Scholes option-pricing model for estimating fair value of each option granted

 

 

 

 

2017

 

 

 

 

Risk-free interest rate

1.79

%  

Expected dividend yield

1.28

%  

Expected life

4.00

years

Expected volatility

34.01

%  

 

Summary of restricted stock activity

The following table summarizes restricted stock activity during the year ended December 31, 2018:

 

 

 

 

 

 

 

 

    

 

 

Weighted Avg.

 

 

    

Shares

    

Fair Value

 

Unvested as of January 1, 2018

 

214,938

 

$

68.62

 

Granted

 

111,474

 

 

59.52

 

Forfeited

 

(31,327)

 

 

66.53

 

Vested and issued

 

(94,432)

 

 

66.27

 

Unvested as of December 31, 2018

 

200,653

 

$

65.21

 

 

The following table summarizes restricted stock activity during the year ended December 31, 2017:

 

 

 

 

 

 

 

 

    

 

 

Weighted Avg. 

 

 

    

Shares

    

Fair Value

 

Unvested as of January 1, 2017

 

229,040

 

$

67.13

 

Granted

 

95,095

 

 

68.09

 

Forfeited

 

(12,074)

 

 

69.71

 

Vested and issued

 

(97,123)

 

 

64.01

 

Unvested as of December 31, 2017

 

214,938

 

$

68.62