Stock Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Number of Restricted Stock Units and Performance Shares

Information on the number of RSUs, PSUs and SOs related to the Stock Incentive Plan during the period of 2020 to 2022 is as follows.

RSUs	2022			2021			2020
Weighted average fair value at grant date	$	87.56		$	94.01		$	69.58
Outstanding at beginning of year		218,268			244,901			255,195
Granted		85,985			81,866			115,500
Shares issued		(84,848	)		(99,399	)		(105,750	)
Cancelled/Forfeited/Expired		(18,641	)		(9,100	)		(20,044	)
Outstanding at end of year		200,764			218,268			244,901

PSUs	2022			2021			2020
Weighted average fair value at grant date	$	88.05		$	93.90		$	69.86
Outstanding at beginning of year		179,311			158,128			76,321
Change in performance conditions		(69,924	)		(44,385	)		23,998
Granted		82,914			74,427			75,940
Shares issued		(64,397	)		—			—
Cancelled/Forfeited/Expired		(26,076	)		(8,859	)		(18,131	)
Outstanding at end of year		101,828			179,311			158,128

Schedule of Options Exercisable

Changes in those assumptions result in changes in the estimated shares to be issued which is reflected in the “Change in performance conditions” line above.

SOs	Number of options			Weighted average exercise price
Outstanding at December 31, 2019		115,875		$	66.70
Exercised		(14,238	)		55.55
Spin conversion 1)		(11,462	)		69.25
Outstanding at December 31, 2020		90,175			68.13
Exercised		(40,112	)		67.49
Cancelled/Forfeited/Expired		(188	)		51.74
Outstanding at December 31, 2021		49,875			68.71
Exercised		(8,614	)		59.28
Cancelled/Forfeited/Expired		(10,150	)		70.40
Outstanding at December 31, 2022		31,111			70.77
OPTIONS EXERCISABLE
At December 31, 2020		90,175		$	68.13
At December 31, 2021		49,875			68.71
At December 31, 2022		31,111			70.77

Summary of Stock Options Outstanding and Exercisable

The following summarizes information about SOs outstanding and exercisable at December 31, 2022:

EXERCISE PRICE	Number outstanding & exercisable		Remaining contract life (in years)		Weighted average exercise price
$49.07		5,203		0.14	$	49.07
$67.29		10,424		1.14		67.29
$80.40		15,484		2.13		80.40
		31,111		1.46		70.77