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 |
|
|
|
|