|
Share-Based and Cash-Based Incentive Compensation (Tables)
|
12 Months Ended |
|
Dec. 31, 2014
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| Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
|
| Schedule of Restricted Stock Activity |
A summary of activity related to Restricted Shares is as follows:
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|
2014
|
|
|
2013
|
|
|
2012
|
|
|
|
Restricted Shares
|
|
|
Weighted Average Grant Date Fair Value Per Share
|
|
|
Restricted Shares
|
|
|
Weighted Average Grant Date Fair Value Per Share
|
|
|
Restricted Shares
|
|
|
Weighted Average Grant Date Fair Value Per Share
|
|
|
Nonvested, beginning of period
|
|
43,840
|
|
|
$
|
15.96
|
|
|
|
43,687
|
|
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$
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18.69
|
|
|
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51,870
|
|
|
$
|
15.81
|
|
|
Granted
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|
18,815
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|
|
|
18.60
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|
|
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27,450
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|
|
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12.75
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|
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21,954
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|
|
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19.13
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|
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Vested
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(19,445
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)
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|
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18.00
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|
|
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(27,297
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)
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|
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17.09
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|
|
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(27,475
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)
|
|
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13.59
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|
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Forfeited
|
|
—
|
|
|
|
—
|
|
|
|
—
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|
|
|
—
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|
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(2,662
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)
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|
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18.78
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|
|
Nonvested, end of period
|
|
43,210
|
|
|
$
|
16.20
|
|
|
|
43,840
|
|
|
$
|
15.96
|
|
|
|
43,687
|
|
|
$
|
18.69
|
|
|
| Schedule of Restricted Stock Awards Outstanding |
Subject to the satisfaction of service conditions, the Restricted Shares outstanding as of December 31, 2014 are expected to vest as follows:
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Restricted Shares
|
|
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2015
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21,520
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|
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2016
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|
15,420
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|
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2017
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|
6,270
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Total
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43,210
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|
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| Summary of Share Activity Related to Restricted Stock Units |
A summary of activity related to RSUs is as follows:
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2014
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2013
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2012
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|
|
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Restricted Stock Units
|
|
|
Weighted Average Grant Date Fair Value Per Share
|
|
|
Restricted Stock Units
|
|
|
Weighted Average Grant Date Fair Value Per Share
|
|
|
Restricted Stock Units
|
|
|
Weighted Average Grant Date Fair Value Per Share
|
|
|
Nonvested, beginning of period
|
|
1,331,753
|
|
|
$
|
14.96
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|
|
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969,820
|
|
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$
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22.70
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|
|
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1,732,703
|
|
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$
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14.67
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|
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Granted
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1,195,388
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|
|
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16.84
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|
|
|
969,919
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|
|
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13.23
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|
|
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764,654
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|
|
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18.64
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|
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Vested
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(354,692
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)
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|
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18.59
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|
|
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(468,925
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)
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|
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26.93
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|
|
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(1,198,208
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)
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|
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9.36
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|
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Forfeited
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(195,114
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)
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|
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16.53
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|
|
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(139,061
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)
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|
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16.50
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|
|
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(329,329
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)
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|
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19.56
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|
|
Nonvested, end of period
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|
1,977,335
|
|
|
$
|
15.29
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|
|
|
1,331,753
|
|
|
$
|
14.96
|
|
|
|
969,820
|
|
|
$
|
22.70
|
|
|
| Schedule of Restricted Stock Units Outstanding |
Subject to the satisfaction of service conditions, the RSUs outstanding as of December 31, 2014 are eligible to vest in the year indicated in the table below:
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Restricted Stock Units
|
|
|
2015 - subject to service requirements
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759,234
|
|
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2015 - subject to service and other requirements (1)
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90,105
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|
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2016 - subject to service requirements
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1,127,996
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|
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Total
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1,977,335
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|
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(1)
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In addition to service requirements, these RSUs are also subject to TSR performance requirements not yet measureable, with awards ranging from 0% to 200% of amounts granted.
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| Summary of Compensation Expense under Share-Based Payment Arrangements and Related Tax Benefit |
A summary of compensation expense under share-based payment arrangements and the related tax benefit is as follows (in thousands):
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Year Ended December 31,
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2014
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2013
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2012
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Share-based compensation expense from:
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|
|
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|
|
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Restricted stock
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$
|
369
|
|
|
$
|
397
|
|
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$
|
399
|
|
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Restricted stock units
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13,150
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|
|
|
11,128
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|
|
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11,999
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|
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Common shares
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1,225
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|
|
|
—
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|
|
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—
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Total
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$
|
14,744
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|
|
$
|
11,525
|
|
|
$
|
12,398
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|
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Share-based compensation tax benefit:
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|
|
|
|
|
|
|
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Tax benefit computed at the statutory rate
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$
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5,160
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|
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$
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4,034
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|
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$
|
4,339
|
|
|
| Summary of Incentive Compensation Expense |
A summary of incentive compensation expense is as follows (in thousands):
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Year Ended December 31,
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2014
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2013
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|
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2012
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|
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Share-based compensation included in:
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|
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General and administrative (1)
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$
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14,744
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|
|
$
|
11,525
|
|
|
$
|
12,398
|
|
|
Cash-based incentive compensation included in:
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Lease operating expense
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3,285
|
|
|
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3,482
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|
|
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3,787
|
|
|
General and administrative (1)
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6,950
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|
|
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8,817
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|
|
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6,558
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|
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Total charged to operating income
|
$
|
24,979
|
|
|
$
|
23,824
|
|
|
$
|
22,743
|
|
|
·
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Reclassified $0.7 million from cash-based incentive compensation expense to share-based compensation expense in 2014 related to the CEO’s 2013 award.
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