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Long-Term Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Assumptions Used for Each Grant

The following table details the assumptions used for each grant based on the year it was granted (dollars in thousands):

	2020			2019			2018
Risk free interest rate		1.7	%		2.6	%		2.1	%
Expected volatility		16.0	%		20.0	%		16.5	%
Aggregate fair value	$	28,800		$	21,200		$	23,300

POP LTIP Units [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock Options, RSU and Performance Share Awards

The performance criteria were met for the 2018 – 2020, 2017 – 2019 and 2016 – 2018 performance periods at the end of the initial three-year performance period, which resulted in awards being earned in January 2021, 2020 and 2019, respectively, in the form of the awards listed below. See below for details on these performance periods (dollars, shares and units in thousands, except average price):

	2018 – 2020		2017 – 2019 ⁽¹⁾		2016 – 2018 ⁽¹⁾
Performance pool	$	100,000	$	97,377	$	101,633
Common stock shares		61		336		462
Restricted stock units		242	-		-
POP LTIP Units and LTIP Units		701		706		1,022
Average price used to determine number of awards	$	99.67	$	93.42	$	68.50

(1)	These performance period amounts include awards earned subsequent to the initial performance period that relate to the compensation pool in excess of the Initial Award.

Restricted Stock Units (RSUs) [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock Options, RSU and Performance Share Awards

The following table summarizes the activity for RSUs for the year ended December 31, 2020 (units in thousands):

	Unvested RSUs			Weighted Average Grant Date Fair Value
Balance at January 1, 2020		1,165		$	68.44
Granted		483			94.78
Vested and distributed		(553	)		65.00
Forfeited		(109	)		77.72
Balance at December 31, 2020		986		$	80.32

Long Term Incentive Plan Units [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock Options, RSU and Performance Share Awards

The following table summarizes the activity for LTIP Units for the year ended December 31, 2020 (units in thousands):

	Vested LTIP Units			Unvested LTIP Units			Unvested Weighted Average Grant Date Fair Value
Balance at January 1, 2020		3,714			2,678		$	60.06
Granted		-			1,088			96.58
Forfeited		-			-			-
Vested LTIP Units		1,059			(1,059	)		65.44
Vested POP LTIP Units		303			-		N/A
Unvested POP LTIP Units		-			345			19.03
Converted		(1,164	)		-		N/A
Balance at December 31, 2020		3,912			3,052		$	66.50