Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2023

Assumptions Used to Determine Grant-Date Fair Value of Options

	2023			2022			2021
Dividend yield		1.16	%		1.27	%		1.17	%
Expected life	4 years			5 years			5 years
Volatility		39.7	%		39.8	%		40.2	%
Risk free interest rate		4.47	%		2.90	%		0.45	%

Employee Stock Option

Summary of Transactions of Company's Stock Option Plans

The following tables summarizes the transactions of the Company’s share-based compensation plans for the year ended December 31, 2023.

	Number of shares			Weighted Average Grant-Date Fair Value
Nonvested at December 31, 2022		757,040		$	69.0
Granted		159,322		$	94.4
Vested		(210,702	)	$	66.6
Forfeited		(52,769	)	$	76.1
Nonvested at December 31, 2023		652,891		$	75.2

	Number of shares			Weighted Average Exercise price		Weighted-Average Remaining Contractual Term (years)
Outstanding at December 31, 2022		864,518		$	20.1
Granted		159,322		$	9.8
Exercised		(267,297	)	$	4.2
Forfeited		(54,767	)	$	7.9
Outstanding at December 31, 2023		701,776		$	24.8		3.3
Exercisable at December 31, 2023		48,885		$	29.2		4.3