Shareholder's Equity, Stock Options and Net Income per Share (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
|---|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] |
The following table sets forth the computation of net income per basic and diluted share:
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2018 |
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2017 |
|
2016 |
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|
(As Adjusted) |
|
(As Adjusted) |
Numerator: |
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|
|
|
Net income and comprehensive income |
$ |
92,051 |
|
|
$ |
87,255 |
|
|
$ |
27,505 |
|
Income allocated to participating securities |
(881 |
) |
|
(700 |
) |
|
(210 |
) |
Numerator for basic and diluted income per share - net income |
91,170 |
|
|
86,555 |
|
|
27,295 |
|
|
|
|
|
|
|
Denominator: |
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|
|
|
Denominator for basic net income per share - weighted-average shares (in thousands) |
29,076 |
|
|
29,867 |
|
|
30,283 |
|
Effect of dilutive stock options (in thousands) |
80 |
|
|
64 |
|
|
130 |
|
Effect of dilutive performance shares (in thousands) |
34 |
|
|
33 |
|
|
31 |
|
Denominator for diluted net income per share - adjusted weighted-average shares (in thousands) |
29,190 |
|
|
29,964 |
|
|
30,444 |
|
Basic net income per share |
$ |
3.14 |
|
|
$ |
2.90 |
|
|
$ |
0.90 |
|
Diluted net income per share |
$ |
3.12 |
|
|
$ |
2.89 |
|
|
$ |
0.90 |
|
|
| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] |
The number of instruments that could potentially dilute net income per basic share in the future, but that were not included in the computation of net income per diluted share because to do so would have been anti-dilutive for the periods presented, are as follows:
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2018 |
|
2017 |
|
2016 |
Anti-dilutive stock options (in thousands) |
126 |
|
|
172 |
|
|
310 |
|
Anti-dilutive performance shares (in thousands) |
16 |
|
|
— |
|
|
— |
|
Anti-dilutive non-vested shares and deferred stock units (in thousands) |
9 |
|
|
— |
|
|
— |
|
Total anti-dilutive shares (in thousands) |
151 |
|
|
172 |
|
|
310 |
|
|
| Employee Stock Option [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Share-based Compensation, Stock Options, Activity [Table Text Block] |
The following table summarizes the Company’s employee stock options outstanding as of December 31, 2018:
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Outstanding |
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Exercisable |
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|
|
Weighted- |
|
Weighted- |
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|
Weighted- |
Range of |
|
Number |
|
Average |
|
Average |
|
Number |
|
Average |
Exercise |
|
Outstanding |
|
Remaining |
|
Exercise |
|
Exercisable |
|
Exercise |
Price |
|
(000) |
|
Contractual Life |
|
Price |
|
(000) |
|
Price |
$ |
36.90 |
|
- |
37.14 |
|
|
36 |
|
|
1.0 |
|
$ |
37.11 |
|
|
36 |
|
|
$ |
37.11 |
|
41.32 |
|
- |
44.90 |
|
|
135 |
|
|
3.5 |
|
43.39 |
|
|
101 |
|
|
43.33 |
|
45.34 |
|
- |
48.32 |
|
|
116 |
|
|
5.0 |
|
47.76 |
|
|
42 |
|
|
47.61 |
|
50.71 |
|
- |
53.73 |
|
|
53 |
|
|
3.4 |
|
51.13 |
|
|
49 |
|
|
50.95 |
|
57.18 |
|
- |
60.42 |
|
|
98 |
|
|
6.1 |
|
58.78 |
|
|
2 |
|
|
57.18 |
|
64.26 |
|
- |
64.26 |
|
|
100 |
|
|
6.7 |
|
64.26 |
|
|
— |
|
|
— |
|
$ |
36.90 |
|
- |
64.26 |
|
|
538 |
|
|
4.7 |
|
$ |
51.37 |
|
|
230 |
|
|
$ |
44.89 |
|
The following tables summarize the Company’s employee stock option activity and related information for the years ended December 31, 2018, 2017 and 2016:
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Year ended |
|
December 31, 2018 |
|
December 31, 2017 |
|
December 31, 2016 |
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Weighted- |
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|
Weighted- |
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|
Weighted- |
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|
Average |
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|
Average |
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|
Average |
|
Options |
|
Exercise |
|
Options |
|
Exercise |
|
Options |
|
Exercise |
|
(000) |
|
Price |
|
(000) |
|
Price |
|
(000) |
|
Price |
Outstanding at beginning of year |
440 |
|
|
$ |
45 |
|
|
564 |
|
|
$ |
41 |
|
|
786 |
|
|
$ |
32 |
|
Granted |
193 |
|
|
62 |
|
|
128 |
|
|
48 |
|
|
137 |
|
|
44 |
|
Exercised |
(95 |
) |
|
41 |
|
|
(206 |
) |
|
35 |
|
|
(346 |
) |
|
24 |
|
Forfeited |
— |
|
|
— |
|
|
(46 |
) |
|
46 |
|
|
(13 |
) |
|
35 |
|
Outstanding at end of year |
538 |
|
|
$ |
51 |
|
|
440 |
|
|
$ |
45 |
|
|
564 |
|
|
$ |
41 |
|
Exercisable at end of year |
230 |
|
|
$ |
45 |
|
|
226 |
|
|
$ |
42 |
|
|
331 |
|
|
$ |
37 |
|
Weighted-average fair value of options granted during the year |
$ |
16 |
|
|
|
|
$ |
13 |
|
|
|
|
$ |
12 |
|
|
|
Aggregate intrinsic value for options exercised |
$ |
1,992 |
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|
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|
$ |
3,569 |
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|
$ |
7,803 |
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|
Average aggregate intrinsic value for options outstanding |
$ |
4,550 |
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Average aggregate intrinsic value for exercisable options |
$ |
3,439 |
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Year ended |
|
December 31,
2018 |
|
December 31,
2017 |
|
December 31,
2016 |
Shared-based compensation for options |
$ |
1,578 |
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|
$ |
1,313 |
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|
$ |
1,473 |
|
Tax benefit for option compensation |
$ |
398 |
|
|
$ |
466 |
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|
$ |
546 |
|
Unrecognized compensation cost for options |
$ |
3,128 |
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Weighted average period over which unrecognized compensation will be recognized (years)
|
2.2 |
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|
| Employee Non-vested Shares [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Nonvested Share Activity [Table Text Block] |
The following tables summarize the Company's employee non-vested share activity and related information:
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|
Year ended |
|
December 31, 2018 |
|
December 31, 2017 |
|
December 31, 2016 |
|
|
|
Weighted- |
|
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|
Weighted- |
|
|
|
Weighted- |
|
Non-vested |
|
Average |
|
Non-vested |
|
Average |
|
Non-vested |
|
Average |
|
Shares |
|
Grant Date |
|
Shares |
|
Grant Date |
|
Shares |
|
Grant Date |
|
(000) |
|
Fair Value |
|
(000) |
|
Fair Value |
|
(000) |
|
Fair Value |
|
|
|
|
|
|
|
|
|
|
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|
Outstanding and non-vested at beginning of year |
227 |
|
|
$ |
47 |
|
|
222 |
|
|
$ |
45 |
|
|
191 |
|
|
$ |
46 |
|
Granted |
202 |
|
|
60 |
|
|
126 |
|
|
48 |
|
|
134 |
|
|
44 |
|
Vested |
(107 |
) |
|
56 |
|
|
(105 |
) |
|
45 |
|
|
(94 |
) |
|
44 |
|
Forfeited |
(7 |
) |
|
52 |
|
|
(16 |
) |
|
47 |
|
|
(9 |
) |
|
45 |
|
Outstanding and non-vested at end of year |
315 |
|
|
$ |
55 |
|
|
227 |
|
|
$ |
47 |
|
|
222 |
|
|
$ |
45 |
|
Aggregate grant date fair value |
$ |
17,295 |
|
|
|
|
$ |
10,618 |
|
|
|
|
$ |
10,108 |
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|
Total fair value of shares vested during the year |
$ |
6,040 |
|
|
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|
$ |
5,040 |
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|
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|
$ |
4,064 |
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Year ended |
|
December 31,
2018 |
|
December 31,
2017 |
|
December 31,
2016 |
Shared-based compensation for non-vested shares |
$ |
6,874 |
|
|
$ |
5,045 |
|
|
$ |
4,614 |
|
Tax benefit for non-vested share compensation |
$ |
1,732 |
|
|
$ |
1,791 |
|
|
$ |
1,712 |
|
Unrecognized compensation cost for non-vested shares |
$ |
11,003 |
|
|
|
|
|
|
Weighted average period over which unrecognized compensation will be recognized (years) |
1.8 |
|
|
|
|
|
|
| Key Employee Performance Share Based Plan [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Nonvested Performance-based Units Activity [Table Text Block] |
The following tables summarize the Company's employee performance share activity, assuming median share awards, and related information:
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|
Year ended |
|
December 31,
2018 |
|
December 31,
2017 |
|
December 31,
2016 |
|
|
|
Weighted- |
|
|
|
Weighted- |
|
|
|
Weighted- |
|
Non-vested |
|
Average |
|
Non-vested |
|
Average |
|
Non-vested |
|
Average |
|
Shares |
|
Grant Date |
|
Shares |
|
Grant Date |
|
Shares |
|
Grant Date |
|
(000) |
|
Fair Value |
|
(000) |
|
Fair Value |
|
(000) |
|
Fair Value |
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding and non-vested at beginning of year |
69 |
|
|
$ |
58 |
|
|
80 |
|
|
$ |
55 |
|
|
77 |
|
|
$ |
52 |
|
Granted |
18 |
|
|
72 |
|
|
27 |
|
|
56 |
|
|
29 |
|
|
49 |
|
Additional shares awarded based on performance |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
7 |
|
|
40 |
|
Vested |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(33 |
) |
|
40 |
|
Forfeited |
(22 |
) |
|
67 |
|
|
(38 |
) |
|
51 |
|
|
— |
|
|
— |
|
Outstanding and non-vested at end of year |
65 |
|
|
$ |
58 |
|
|
69 |
|
|
$ |
58 |
|
|
80 |
|
|
$ |
55 |
|
Aggregate grant date fair value |
$ |
3,795 |
|
|
|
|
$ |
3,980 |
|
|
|
|
$ |
4,373 |
|
|
|
|
|
|
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|
|
|
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|
Year ended |
|
December 31,
2018 |
|
December 31,
2017 |
|
December 31,
2016 |
Shared-based compensation for performance shares |
$ |
1,263 |
|
|
$ |
1,045 |
|
|
$ |
1,447 |
|
Tax benefit for performance share compensation |
$ |
318 |
|
|
$ |
371 |
|
|
$ |
537 |
|
Unrecognized compensation cost for performance shares |
$ |
1,415 |
|
|
|
|
|
|
|
Weighted average period over which unrecognized compensation will be recognized (years) |
1.7 |
|
|
|
|
|
|
| Nonemployee Director Nonvested Shares Granted [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Nonvested Share Activity [Table Text Block] |
The following tables summarize the Company's non-employee non-vested share activity and related information:
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|
Year ended |
|
December 31,
2018 |
|
December 31,
2017 |
|
December 31,
2016 |
|
Non-vested |
|
|
|
Non-vested |
|
|
|
Non-vested |
|
|
|
Shares and |
|
Weighted- |
|
Shares and |
|
Weighted- |
|
Shares and |
|
Weighted- |
|
Deferred |
|
Average |
|
Deferred |
|
Average |
|
Deferred |
|
Average |
|
Stock Units |
|
Grant Date |
|
Stock Units |
|
Grant Date |
|
Stock Units |
|
Grant Date |
|
(000) |
|
Fair Value |
|
(000) |
|
Fair Value |
|
(000) |
|
Fair Value |
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding and non-vested at beginning of year |
11 |
|
|
$ |
52 |
|
|
16 |
|
|
$ |
44 |
|
|
15 |
|
|
$ |
51 |
|
Granted |
16 |
|
|
59 |
|
|
14 |
|
|
52 |
|
|
16 |
|
|
44 |
|
Vested |
(12 |
) |
|
52 |
|
|
(16 |
) |
|
44 |
|
|
(15 |
) |
|
51 |
|
Forfeited |
— |
|
|
— |
|
|
(3 |
) |
|
49 |
|
|
— |
|
|
— |
|
Outstanding and non-vested at end of year |
15 |
|
|
$ |
59 |
|
|
11 |
|
|
$ |
52 |
|
|
16 |
|
|
$ |
44 |
|
Aggregate grant date fair value |
$ |
920 |
|
|
|
|
$ |
742 |
|
|
|
|
$ |
688 |
|
|
|
Total fair value of shares vested during the year |
$ |
615 |
|
|
|
|
$ |
809 |
|
|
|
|
$ |
639 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended |
|
December 31,
2018 |
|
December 31,
2017 |
|
December 31,
2016 |
Shared-based compensation for non-vested shares |
$ |
775 |
|
|
$ |
608 |
|
|
$ |
728 |
|
Tax benefit for non-vested share compensation |
$ |
195 |
|
|
$ |
216 |
|
|
$ |
263 |
|
Unrecognized compensation cost for non-vested shares |
$ |
360 |
|
|
|
|
|
|
Weighted average period over which unrecognized compensation will be recognized (years) |
0.4 |
|
|
|
|
|
|