Quarterly report pursuant to Section 13 or 15(d)

Share-Based Payments (Tables)

v3.19.1
Share-Based Payments (Tables)
3 Months Ended
Mar. 31, 2019
Employee Stock Option [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based Compensation, Activity [Table Text Block]
 
 
 
 
The following tables summarize the Company’s employee stock option activity and related information:

Three months ended March 31, 2019







Weighted-



Weighted-

Aggregate

Average



Average

Intrinsic

Remaining

Options

Exercise

Value

Contractual

(000)

Price

(000)

Term
Outstanding at December 31, 2018
538


$
51





Granted







Exercised
(18
)

46





Forfeited







Outstanding at March 31, 2019
520


$
52


$
5,031


4.5
Exercisable at March 31, 2019
308


$
46


$
4,598


3.5
 

Three months ended

March 31,
2019

March 31,
2018
Share-based compensation for options
$
439


$
342

Tax benefit for option compensation
$
105


$
88

Unrecognized compensation cost for options, net of estimated forfeitures
$
2,768


$
2,589

Weighted average period over which unrecognized compensation will be recognized (years)
1.9



 
 
 
 
 
 
 
 
 
 
 
 
Employee Non-vested Shares [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]
The following tables summarize the Company’s employee non-vested share activity and related information:

Three months ended March 31, 2019



Weighted-

Aggregate

Non-vested

Average

Grant Date

Shares

Grant Date

Fair Value

(000)

Fair Value

(000)
Outstanding and non-vested at December 31, 2018
315


$
55



Granted
108


59



Vested
(114
)

61



Forfeited
(2
)

54



Outstanding and non-vested at March 31, 2019
307


$
58


$
17,861


Three months ended

March 31,
2019

March 31,
2018
Share-based compensation for non-vested shares
$
2,042


$
1,399

Tax benefit for non-vested share compensation
$
486


$
360

Unrecognized compensation cost for non-vested shares, net of estimated forfeitures
$
15,251


$
11,747

Weighted average period over which unrecognized compensation will be recognized (years)
2.1



 
 
 
 
 
 
 
 
 
 
Key Employee Performance Share Based Plan [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based Compensation Arrangements by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block]
The fair value of the performance shares granted based on the three year performance of the Company’s total shareholder return was estimated using a Monte Carlo simulation. The weighted average assumptions used in the Monte Carlo estimate were as follows:

Three months ended

March 31,
2019

March 31,
2018
Expected stock price volatility
23.4
%

24.3
%
Weighted average risk-free interest rate
2.5
%

2.2
%

The following tables summarize the Company’s employee performance share activity, assuming median share awards, and related information:

Three months ended March 31, 2019



Weighted-

Aggregate

Performance

Average

Grant Date

Shares

Grant Date

Fair Value

(000)

Fair Value

(000)
Outstanding and non-vested at December 31, 2018
65


$
58



Granted
27


61



Additional shares awarded based on performance





Vested
(23
)

64



Forfeited





Outstanding and non-vested at March 31, 2019
69


$
62


$
4,318


Three months ended

March 31,
2019

March 31,
2018
Share-based compensation for performance shares
$
348


$
335

Tax benefit for performance share compensation
$
83


$
86

Unrecognized compensation cost for performance shares, net of estimated forfeitures
$
2,806


$
2,343

Weighted average period over which unrecognized compensation will be recognized (years)
2.3



 
 
 
 
 
 
 
 
 
 
Nonemployee Director Nonvested Shares Granted Member  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]
The following tables summarize the Company’s non-employee non-vested share activity and related information:

Three months ended March 31, 2019



Weighted-

Aggregate

Non-vested

Average

Grant Date

Shares

Grant Date

Fair Value

(000)

Fair Value

(000)
Outstanding and non-vested at December 31, 2018
15


$
59



Granted





Vested





Forfeited





Outstanding and non-vested at March 31, 2019
15


$
59


$
886


Three months ended

March 31,
2019

March 31,
2018
Share-based compensation for non-vested shares
$
218


$
185

Tax benefit for non-vested share compensation
$
52


$
47

Unrecognized compensation cost for non-vested shares, net of estimated forfeitures
$
142


$
65

Weighted average period over which unrecognized compensation will be recognized (years)
0.2