Share-Based Payments (Tables)
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9 Months Ended |
Sep. 30, 2019 |
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| 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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Nine months ended September 30, 2019 |
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Weighted- |
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Weighted- |
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Average |
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Average |
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Aggregate |
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Remaining |
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Exercise |
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Intrinsic |
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Contractual |
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Options |
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Price |
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Value |
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Term |
Outstanding at December 31, 2018 |
538 |
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$ |
51 |
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Exercised |
(45 |
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47 |
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Forfeited |
(8 |
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54 |
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Outstanding at September 30, 2019 |
485 |
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$ |
52 |
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$ |
4,638 |
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4.0 |
Exercisable at September 30, 2019 |
319 |
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$ |
48 |
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$ |
4,163 |
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3.3 |
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Nine months ended |
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September 30,
2019 |
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September 30,
2018 |
Share-based compensation for options |
$ |
1,209 |
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$ |
1,085 |
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Tax benefit for option compensation |
$ |
312 |
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$ |
271 |
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Unrecognized compensation cost for options, net of estimated forfeitures |
$ |
1,878 |
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$ |
3,621 |
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Weighted average period over which unrecognized compensation will be recognized (years) |
1.6 |
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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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Nine months ended September 30, 2019 |
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Weighted- |
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Average |
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Aggregate |
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Non-vested |
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Grant Date |
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Grant Date |
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Shares |
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Fair Value |
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Fair Value |
Outstanding and non-vested at December 31, 2018 |
315 |
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$ |
55 |
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Granted |
114 |
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59 |
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Vested |
(131 |
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61 |
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Forfeited |
(15 |
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56 |
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Outstanding and non-vested at September 30, 2019 |
283 |
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$ |
58 |
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$ |
16,441 |
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Nine months ended |
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September 30,
2019 |
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September 30,
2018 |
Share-based compensation for non-vested shares |
$ |
6,210 |
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$ |
4,902 |
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Tax benefit for non-vested share compensation |
$ |
1,581 |
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$ |
1,225 |
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Unrecognized compensation cost for non-vested shares, net of estimated forfeitures |
$ |
10,705 |
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$ |
13,146 |
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Weighted average period over which unrecognized compensation will be recognized (years) |
1.8 |
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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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Nine months ended |
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September 30,
2019 |
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September 30,
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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Nine months ended September 30, 2019 |
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Weighted- |
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Average |
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Aggregate |
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Performance |
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Grant Date |
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Grant Date |
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Shares |
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Fair Value |
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Fair Value |
Outstanding and non-vested at December 31, 2018 |
65 |
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$ |
58 |
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Granted |
30 |
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61 |
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Vested |
(23 |
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64 |
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Forfeited |
(10 |
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63 |
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Outstanding and non-vested at September 30, 2019 |
62 |
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$ |
62 |
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$ |
3,870 |
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Nine months ended |
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September 30,
2019 |
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September 30,
2018 |
Share-based compensation for performance shares |
$ |
821 |
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$ |
953 |
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Tax benefit for performance share compensation |
$ |
212 |
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$ |
238 |
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Unrecognized compensation cost for performance shares, net of estimated forfeitures |
$ |
1,884 |
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$ |
1,725 |
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Weighted average period over which unrecognized compensation will be recognized (years) |
1.9 |
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| Employee Stock Purchase Plan [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, Employee Stock Purchase Plan, Activity [Table Text Block] |
The following table summarizes the Company’s employee stock purchase activity and related information:
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Nine months ended |
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September 30,
2019 |
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September 30,
2018 |
Shares purchased by participants under plan |
5 |
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5 |
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Average purchase price |
$ |
49 |
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$ |
52 |
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Weighted-average fair value of each purchase right under the ESPP granted ¹ |
$ |
10 |
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$ |
7 |
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Share-based compensation for ESPP shares |
$ |
52 |
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$ |
32 |
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¹ Equal to the discount from the market value of the common stock at the end of each six month purchase period |
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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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Nine months ended September 30, 2019 |
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Weighted- |
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Average |
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Aggregate |
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Non-vested |
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Grant Date |
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Grant Date |
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Shares |
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Fair Value |
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Fair Value |
Outstanding and non-vested at December 31, 2018 |
15 |
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$ |
59 |
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Granted |
15 |
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|
62 |
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Vested |
(15 |
) |
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59 |
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Outstanding and non-vested at September 30, 2019 |
15 |
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$ |
62 |
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$ |
920 |
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Nine months ended |
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September 30,
2019 |
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September 30,
2018 |
Share-based compensation for non-vested shares |
$ |
714 |
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$ |
553 |
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Tax benefit for non-vested share compensation |
$ |
184 |
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$ |
138 |
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Unrecognized compensation cost for non-vested shares, net of estimated forfeitures |
$ |
554 |
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$ |
501 |
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Weighted average period over which unrecognized compensation will be recognized (years) |
0.6 |
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