Share-Based Payments (Tables)
|
6 Months Ended |
Jun. 30, 2017 |
|---|
| 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:
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|
Three months ended June 30, 2017 |
|
|
|
Weighted- |
|
Aggregate |
|
Non-vested |
|
Average |
|
Grant Date |
|
Shares |
|
Grant Date |
|
Fair Value |
|
(000) |
|
Fair Value |
|
(000) |
Outstanding and non-vested at March 31, 2017 |
242 |
|
|
$ |
47 |
|
|
|
Granted |
— |
|
|
— |
|
|
|
Vested |
(2 |
) |
|
43 |
|
|
|
Forfeited |
(8 |
) |
|
47 |
|
|
|
Outstanding and non-vested at June 30, 2017 |
232 |
|
|
$ |
47 |
|
|
$ |
10,831 |
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
June 30,
2017 |
|
June 30,
2016 |
Share-based compensation for non-vested shares |
$ |
1,279 |
|
|
$ |
1,176 |
|
Tax benefit for non-vested share compensation |
$ |
465 |
|
|
$ |
437 |
|
Unrecognized compensation cost for non-vested shares, net of estimated forfeitures |
$ |
8,826 |
|
|
$ |
8,470 |
|
Weighted average period over which unrecognized compensation will be recognized (years) |
2.1 |
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|
|
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|
Six months ended June 30, 2017 |
|
|
|
Weighted- |
|
Aggregate |
|
Non-vested |
|
Average |
|
Grant Date |
|
Shares |
|
Grant Date |
|
Fair Value |
|
(000) |
|
Fair Value |
|
(000) |
Outstanding and non-vested at December 31, 2016 |
222 |
|
|
$ |
45 |
|
|
|
Granted |
126 |
|
|
48 |
|
|
|
Vested |
(104 |
) |
|
45 |
|
|
|
Forfeited |
(12 |
) |
|
46 |
|
|
|
Outstanding and non-vested at June 30, 2017 |
232 |
|
|
$ |
47 |
|
|
$ |
10,831 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Six months ended |
|
June 30,
2017 |
|
June 30,
2016 |
Share-based compensation for non-vested shares |
$ |
2,518 |
|
|
$ |
2,258 |
|
Tax benefit for non-vested share compensation |
$ |
917 |
|
|
$ |
840 |
|
Unrecognized compensation cost for non-vested shares, net of estimated forfeitures |
$ |
8,826 |
|
|
$ |
8,470 |
|
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] |
|
| Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block] |
The fair value of the performance shares was estimated using a Monte Carlo simulation. The weighted average assumptions used in the Monte Carlo estimate were as follows:
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Six months ended |
|
June 30,
2017 |
|
June 30,
2016 |
Expected stock price volatility |
24.7 |
% |
|
22.3 |
% |
Weighted average risk-free interest rate |
1.4 |
% |
|
0.8 |
% |
The following tables summarize the Company’s employee performance share activity, assuming median share awards, and related information:
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|
|
|
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|
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|
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|
Three months ended June 30, 2017 |
|
|
|
Weighted- |
|
Aggregate |
|
Performance |
|
Average |
|
Grant Date |
|
Shares |
|
Grant Date |
|
Fair Value |
|
(000) |
|
Fair Value |
|
(000) |
Outstanding and non-vested at March 31, 2017 |
76 |
|
|
$ |
57 |
|
|
|
Granted |
— |
|
|
— |
|
|
|
Forfeited |
(4 |
) |
|
$ |
56 |
|
|
|
Outstanding and non-vested at June 30, 2017 |
72 |
|
|
$ |
57 |
|
|
$ |
4,107 |
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
June 30,
2017 |
|
June 30,
2016 |
Share-based compensation for performance shares |
$ |
257 |
|
|
$ |
363 |
|
Tax benefit for performance share compensation |
$ |
94 |
|
|
$ |
135 |
|
Unrecognized compensation cost for performance shares, net of estimated forfeitures |
$ |
2,135 |
|
|
$ |
2,442 |
|
Weighted average period over which unrecognized compensation will be recognized (years) |
2.0 |
|
|
|
|
|
|
|
|
|
|
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|
Six months ended June 30, 2017 |
|
|
|
Weighted- |
|
Aggregate |
|
Performance |
|
Average |
|
Grant Date |
|
Shares |
|
Grant Date |
|
Fair Value |
|
(000) |
|
Fair Value |
|
(000) |
Outstanding and non-vested at December 31, 2016 |
80 |
|
|
$ |
55 |
|
|
|
Granted |
25 |
|
|
56 |
|
|
|
Additional shares awarded based on performance |
— |
|
|
— |
|
|
|
Vested |
— |
|
|
— |
|
|
|
Forfeited |
(33 |
) |
|
51 |
|
|
|
Outstanding and non-vested at June 30, 2017 |
72 |
|
|
$ |
57 |
|
|
$ |
4,107 |
|
|
|
|
|
|
|
|
|
|
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|
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|
Six months ended |
|
June 30,
2017 |
|
June 30,
2016 |
Share-based compensation for performance shares |
$ |
441 |
|
|
$ |
714 |
|
Tax benefit for performance share compensation |
$ |
160 |
|
|
$ |
266 |
|
Unrecognized compensation cost for performance shares, net of estimated forfeitures |
$ |
2,135 |
|
|
$ |
2,442 |
|
Weighted average period over which unrecognized compensation will be recognized (years) |
2.0 |
|
|
|
|
| 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 June 30, 2017 |
|
|
|
Weighted- |
|
Aggregate |
|
Non-vested |
|
Average |
|
Grant Date |
|
Shares |
|
Grant Date |
|
Fair Value |
|
(000) |
|
Fair Value |
|
(000) |
Outstanding and non-vested at March 31, 2017 |
16 |
|
|
$ |
44 |
|
|
|
Granted |
10 |
|
|
51 |
|
|
|
Vested |
(16 |
) |
|
44 |
|
|
|
Outstanding and non-vested at June 30, 2017 |
10 |
|
|
$ |
51 |
|
|
$ |
516 |
|
|
|
|
|
|
|
|
|
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|
Three months ended |
|
June 30,
2017 |
|
June 30,
2016 |
Share-based compensation for non-vested shares |
$ |
146 |
|
|
$ |
211 |
|
Tax benefit for non-vested share compensation |
$ |
53 |
|
|
$ |
65 |
|
Unrecognized compensation cost for non-vested shares, net of estimated forfeitures |
$ |
442 |
|
|
$ |
592 |
|
Weighted average period over which unrecognized compensation will be recognized (years) |
0.9 |
|
|
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|
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|
Six months ended June 30, 2017 |
|
|
|
Weighted- |
|
Aggregate |
|
Non-vested |
|
Average |
|
Grant Date |
|
Shares |
|
Grant Date |
|
Fair Value |
|
(000) |
|
Fair Value |
|
(000) |
Outstanding and non-vested at December 31, 2016 |
16 |
|
|
$ |
44 |
|
|
|
Granted |
10 |
|
|
51 |
|
|
|
Vested |
(16 |
) |
|
44 |
|
|
|
Forfeited |
— |
|
|
— |
|
|
|
Outstanding and non-vested at June 30, 2017 |
10 |
|
|
$ |
51 |
|
|
$ |
516 |
|
|
|
|
|
|
|
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|
Six months ended |
|
June 30,
2017 |
|
June 30,
2016 |
Share-based compensation for non-vested shares |
$ |
317 |
|
|
$ |
382 |
|
Tax benefit for non-vested share compensation |
$ |
115 |
|
|
$ |
135 |
|
Unrecognized compensation cost for non-vested shares, net of estimated forfeitures |
$ |
442 |
|
|
$ |
592 |
|
Weighted average period over which unrecognized compensation will be recognized (years) |
0.9 |
|
|
|
|
| Employee Stock Option [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Share-based Compensation, Activity [Table Text Block] |
The weighted-average fair value of options granted and assumptions used to estimate their fair value during the six months ended June 30, 2017 and 2016 were as follows:
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Six months ended |
|
June 30,
2017 |
|
June 30,
2016 |
Expected dividend yield |
1.3 |
% |
|
1.0 |
% |
Expected stock price volatility |
28.7 |
% |
|
29.0 |
% |
Weighted average risk-free interest rate |
2.0 |
% |
|
1.3 |
% |
Expected life of options (years) |
6.0 |
|
|
6.0 |
|
Weighted average grant date fair value |
$ |
13 |
|
|
$ |
12 |
|
The following tables summarize the Company’s employee stock option activity and related information:
|
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|
|
|
|
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|
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|
Three months ended June 30, 2017 |
|
|
|
|
|
|
|
Weighted- |
|
|
|
Weighted- |
|
Aggregate |
|
Average |
|
|
|
Average |
|
Intrinsic |
|
Remaining |
|
Options |
|
Exercise |
|
Value |
|
Contractual |
|
(000) |
|
Price |
|
(000) |
|
Term |
Outstanding at March 31, 2017 |
622 |
|
|
$ |
42 |
|
|
|
|
|
Granted |
— |
|
|
— |
|
|
|
|
|
Exercised |
(103 |
) |
|
33 |
|
|
|
|
|
Forfeited |
(12 |
) |
|
47 |
|
|
|
|
|
Outstanding at June 30, 2017 |
507 |
|
|
$ |
44 |
|
|
$ |
3,453 |
|
|
4.7 |
Exercisable at June 30, 2017 |
282 |
|
|
$ |
42 |
|
|
$ |
2,466 |
|
|
3.5 |
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
June 30,
2017 |
|
June 30,
2016 |
Share-based compensation for options |
$ |
331 |
|
|
$ |
375 |
|
Tax benefit for option compensation |
$ |
121 |
|
|
$ |
140 |
|
Unrecognized compensation cost for options, net of estimated forfeitures |
$ |
2,281 |
|
|
$ |
2,414 |
|
Weighted average period over which unrecognized compensation will be recognized (years) |
2.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended June 30, 2017 |
|
|
|
|
|
|
|
Weighted- |
|
|
|
Weighted- |
|
Aggregate |
|
Average |
|
|
|
Average |
|
Intrinsic |
|
Remaining |
|
Options |
|
Exercise |
|
Value |
|
Contractual |
|
(000) |
|
Price |
|
(000) |
|
Term |
Outstanding at December 31, 2016 |
564 |
|
|
$ |
41 |
|
|
|
|
|
Granted |
118 |
|
|
48 |
|
|
|
|
|
Exercised |
(150 |
) |
|
33 |
|
|
|
|
|
Forfeited |
(25 |
) |
|
46 |
|
|
|
|
|
Outstanding at June 30, 2017 |
507 |
|
|
$ |
44 |
|
|
$ |
3,453 |
|
|
4.7 |
Exercisable at June 30, 2017 |
282 |
|
|
$ |
42 |
|
|
$ |
2,466 |
|
|
3.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months ended |
|
June 30,
2017 |
|
June 30,
2016 |
Share-based compensation for options |
$ |
699 |
|
|
$ |
723 |
|
Tax benefit for option compensation |
$ |
254 |
|
|
$ |
269 |
|
Unrecognized compensation cost for options, net of estimated forfeitures |
$ |
2,281 |
|
|
$ |
2,414 |
|
Weighted average period over which unrecognized compensation will be recognized (years) |
2.1 |
|
|
|
|