Quarterly report pursuant to Section 13 or 15(d)

Share-Based Payments (Tables)

v3.19.2
Share-Based Payments (Tables)
6 Months Ended
Jun. 30, 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:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Six months ended June 30, 2019







Weighted-



Weighted-



Average



Average

Aggregate

Remaining



Exercise

Intrinsic

Contractual

Options

Price

Value

Term
Outstanding at December 31, 2018
538


$
51





Exercised
(27
)

47





Outstanding at June 30, 2019
511


$
52


$
4,970


4.2
Exercisable at June 30, 2019
299


$
46


$
4,508


3.2
 
 
 
 

Six months ended

June 30,
2019

June 30,
2018
Share-based compensation for options
$
850


$
688

Tax benefit for option compensation
$
217


$
172

Unrecognized compensation cost for options, net of estimated forfeitures
$
2,358


$
2,243

Weighted average period over which unrecognized compensation will be recognized (years)
1.7

 
 

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:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Six months ended June 30, 2019



Weighted-





Average

Aggregate

Non-vested

Grant Date

Grant Date

Shares

Fair Value

Fair Value
Outstanding and non-vested at December 31, 2018
315


$
55



Granted
111


59



Vested
(116
)

61



Forfeited
(5
)

55



Outstanding and non-vested at June 30, 2019
305


$
58


$
17,779


 
 
 
 

Six months ended

June 30,
2019

June 30,
2018
Share-based compensation for non-vested shares
$
4,142


$
2,965

Tax benefit for non-vested share compensation
$
1,056


$
741

Unrecognized compensation cost for non-vested shares, net of estimated forfeitures
$
13,192


$
13,371

Weighted average period over which unrecognized compensation will be recognized (years)
2.0

 
 

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:

Six months ended

June 30,
2019

June 30,
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:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Six months ended June 30, 2019



Weighted-





Average

Aggregate

Performance

Grant Date

Grant Date

Shares

Fair Value

Fair Value
Outstanding and non-vested at December 31, 2018
65


$
58



Granted
27


61



Vested
(23
)

64



Outstanding and non-vested at June 30, 2019
69


$
62


$
4,318

 
 
 
 

Six months ended

June 30,
2019

June 30,
2018
Share-based compensation for performance shares
$
717


$
642

Tax benefit for performance share compensation
$
183


$
161

Unrecognized compensation cost for performance shares, net of estimated forfeitures
$
2,436


$
2,036

Weighted average period over which unrecognized compensation will be recognized (years)
2.0

 
 

Employee Stock Purchase Plan [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity [Table Text Block] The following table summarizes the Company’s employee stock purchase activity and related information:

 
 
 
 

Six months ended

June 30,
2019

June 30,
2018
Shares purchased by participants under plan
5


5

Average purchase price
$
49


$
52

Weighted-average fair value of each purchase right under the ESPP granted ¹
$
10


$
7

Share-based compensation for ESPP shares
$
52


$
32

 
 
 
 
¹ Equal to the discount from the market value of the common stock at the end of each six month purchase period
 
 
 



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:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Six months ended June 30, 2019



Weighted-





Average

Aggregate

Non-vested

Grant Date

Grant Date

Shares

Fair Value

Fair Value
Outstanding and non-vested at December 31, 2018
15


$
59



Granted
15


62



Vested
(15
)

59



Outstanding and non-vested at June 30, 2019
15


$
62


$
920

 
 
 
 

Six months ended

June 30,
2019

June 30,
2018
Share-based compensation for non-vested shares
$
483


$
351

Tax benefit for non-vested share compensation
$
123


$
88

Unrecognized compensation cost for non-vested shares, net of estimated forfeitures
$
784


$
703

Weighted average period over which unrecognized compensation will be recognized (years)
0.9