Stock-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement, Noncash Expense [Abstract]

A summary of the Company's stock option activity for the three months ended March 31, 2021 and March 31, 2020 is presented below:


Stock Options	Common Shares	Weighted Average Strike Price		Remaining Contractual Term (1)	Intrinsic Value (2) (in thousands)
Outstanding at January 1, 2021	520,663	$	42.47
Granted	—	—
Exercised	(208,579)	42.96
Forfeited or canceled	(590)	46.86
Outstanding at March 31, 2021	311,494	$	42.14	1.8	$	10,485
Exercisable at March 31, 2021	309,945	$	42.11	1.8	$	10,441


Stock Options	Common Shares	Weighted Average Strike Price		Remaining Contractual Term (1)	Intrinsic Value (2) (in thousands)
Outstanding at January 1, 2020	755,332	$	42.43

Granted	—	—
Exercised	(94,653)	38.69
Forfeited or canceled	—	—
Outstanding at March 31, 2020	660,679	$	42.97	2.5	$	—
Exercisable at March 31, 2020	650,456	$	42.95	2.4	$	1

(1)Represents the remaining weighted average contractual life in years.

(2)Aggregate intrinsic value represents the total pre-tax intrinsic value (i.e., the difference between the Company's stock price on the last trading day of the quarter and the option exercise price, multiplied by the number of shares) that would have been received by the option holders if they had exercised their options on the last day of the quarter. Options with exercise prices above the stock price on the last trading day of the quarter are excluded from the calculation of intrinsic value. The intrinsic value will change based on the fair market value of the Company's stock.

Summary Of Plans' Restricted Share And Performance-Vested Stock Award Activity

A summary of the Plans' restricted share activity for the three months ended March 31, 2021 and March 31, 2020 is presented below:


	Three months ended March 31, 2021			Three months ended March 31, 2020
Restricted Shares	Common Shares	Weighted Average Grant-Date Fair Value		Common Shares	Weighted Average Grant-Date Fair Value
Outstanding at January 1	234,794	$	59.02	144,328	$	60.37
Granted	257,189	62.79		99,963	64.10
Vested and issued	(7,104)	78.13		(9,633)	75.69
Forfeited or canceled	(849)	63.44		(3,538)	81.89
Outstanding at March 31	484,030	$	60.73	231,120	$	61.02
Vested, but not issuable at March 31	94,348	$	52.21	92,244	$	52.23

A summary of the Plans' performance-based stock award activity, based on the target level of the awards, for the three months ended March 31, 2021 and March 31, 2020 is presented below:


	Three months ended March 31, 2021			Three months ended March 31, 2020
Performance-based Stock	Common Shares	Weighted Average Grant-Date Fair Value		Common Shares	Weighted Average Grant-Date Fair Value
Outstanding at January 1	482,608	$	71.15	465,515	$	74.37
Granted	206,465	58.85		166,547	64.10
Added by performance factor at vesting	—	—		48,831	72.59
Vested and issued	—	—		(180,596)	72.59
Expired, canceled or forfeited	(125,622)	87.88		(6,071)	73.66
Outstanding at March 31	563,451	$	62.91	494,226	$	71.39
Vested, but deferred at March 31	34,748	$	43.28	34,166	$	43.27