Share-Based Payments (Tables)
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3 Months Ended |
Mar. 31, 2019 |
Employee Stock Option [Member] |
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Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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Share-based Compensation, Activity [Table Text Block] |
The following tables summarize the Company’s employee stock option activity and related information:
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Three months ended March 31, 2019 |
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Weighted- |
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Weighted- |
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Aggregate |
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Average |
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Average |
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Intrinsic |
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Remaining |
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Options |
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Exercise |
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Value |
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Contractual |
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(000) |
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Price |
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(000) |
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Term |
Outstanding at December 31, 2018 |
538 |
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$ |
51 |
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Granted |
— |
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— |
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Exercised |
(18 |
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46 |
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Forfeited |
— |
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— |
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Outstanding at March 31, 2019 |
520 |
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$ |
52 |
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$ |
5,031 |
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4.5 |
Exercisable at March 31, 2019 |
308 |
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$ |
46 |
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$ |
4,598 |
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3.5 |
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Three months ended |
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March 31, 2019 |
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March 31, 2018 |
Share-based compensation for options |
$ |
439 |
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$ |
342 |
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Tax benefit for option compensation |
$ |
105 |
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$ |
88 |
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Unrecognized compensation cost for options, net of estimated forfeitures |
$ |
2,768 |
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$ |
2,589 |
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Weighted average period over which unrecognized compensation will be recognized (years) |
1.9 |
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Employee Non-vested Shares [Member] |
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Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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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:
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Three months ended March 31, 2019 |
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Weighted- |
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Aggregate |
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Non-vested |
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Average |
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Grant Date |
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Shares |
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Grant Date |
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Fair Value |
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(000) |
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Fair Value |
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(000) |
Outstanding and non-vested at December 31, 2018 |
315 |
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$ |
55 |
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Granted |
108 |
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59 |
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Vested |
(114 |
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61 |
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Forfeited |
(2 |
) |
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54 |
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Outstanding and non-vested at March 31, 2019 |
307 |
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$ |
58 |
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$ |
17,861 |
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Three months ended |
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March 31, 2019 |
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March 31, 2018 |
Share-based compensation for non-vested shares |
$ |
2,042 |
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$ |
1,399 |
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Tax benefit for non-vested share compensation |
$ |
486 |
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$ |
360 |
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Unrecognized compensation cost for non-vested shares, net of estimated forfeitures |
$ |
15,251 |
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$ |
11,747 |
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Weighted average period over which unrecognized compensation will be recognized (years) |
2.1 |
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Key Employee Performance Share Based Plan [Member] |
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Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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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:
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Three months ended |
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March 31, 2019 |
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March 31, 2018 |
Expected stock price volatility |
23.4 |
% |
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24.3 |
% |
Weighted average risk-free interest rate |
2.5 |
% |
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2.2 |
% |
The following tables summarize the Company’s employee performance share activity, assuming median share awards, and related information:
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Three months ended March 31, 2019 |
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Weighted- |
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Aggregate |
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Performance |
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Average |
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Grant Date |
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Shares |
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Grant Date |
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Fair Value |
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(000) |
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Fair Value |
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(000) |
Outstanding and non-vested at December 31, 2018 |
65 |
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$ |
58 |
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Granted |
27 |
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61 |
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Additional shares awarded based on performance |
— |
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— |
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Vested |
(23 |
) |
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64 |
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Forfeited |
— |
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— |
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Outstanding and non-vested at March 31, 2019 |
69 |
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$ |
62 |
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$ |
4,318 |
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Three months ended |
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March 31, 2019 |
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March 31, 2018 |
Share-based compensation for performance shares |
$ |
348 |
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$ |
335 |
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Tax benefit for performance share compensation |
$ |
83 |
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$ |
86 |
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Unrecognized compensation cost for performance shares, net of estimated forfeitures |
$ |
2,806 |
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$ |
2,343 |
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Weighted average period over which unrecognized compensation will be recognized (years) |
2.3 |
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Nonemployee Director Nonvested Shares Granted Member |
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Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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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:
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Three months ended March 31, 2019 |
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Weighted- |
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Aggregate |
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Non-vested |
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Average |
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Grant Date |
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Shares |
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Grant Date |
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Fair Value |
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(000) |
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Fair Value |
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(000) |
Outstanding and non-vested at December 31, 2018 |
15 |
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$ |
59 |
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Granted |
— |
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— |
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Vested |
— |
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— |
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Forfeited |
— |
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— |
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Outstanding and non-vested at March 31, 2019 |
15 |
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$ |
59 |
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$ |
886 |
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Three months ended |
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March 31, 2019 |
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March 31, 2018 |
Share-based compensation for non-vested shares |
$ |
218 |
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$ |
185 |
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Tax benefit for non-vested share compensation |
$ |
52 |
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$ |
47 |
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Unrecognized compensation cost for non-vested shares, net of estimated forfeitures |
$ |
142 |
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$ |
65 |
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Weighted average period over which unrecognized compensation will be recognized (years) |
0.2 |
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