Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2021

Summarizes Transactions of SEUs

The following table summarizes the transactions of the Company’s SEUs for the year ended December 31, 2021:

	Number of SEUs			Weighted Average Exercise Price		Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2020		390,164		$	4.35	$	63.96
Granted – at discount		199,431		$	0.00	$	85.54
– at market value		3,803		$	99.85	$	32.71
Exercised		(40,115	)	$	17.27	$	44.22
Forfeited		(25,345	)	$	2.52	$	66.45
Outstanding at December 31, 2021		527,938		$	2.50	$	73.27

Stock Options Plan [Member]

Assumptions Used to Determine Grant-Date Fair Value of Options

The following weighted average assumptions were used to determine the grant-date fair value of options:

	2021			2020			2019
Dividend yield		1.03	%		1.18	%		1.09	%
Expected life		5 years			5 years			5 years
Volatility (daily)		40.3	%		27.0	%		26.8	%
Risk free interest rate		0.23	%		1.13	%		2.48	%

Summary of Transactions of Company's Stock Option Plans

The following table summarizes the transactions of the Company’s stock option plans for the year ended December 31, 2021:

	Number of Options			Weighted Average Exercise Price		Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2020		442,893		$	32.49	$	45.31
Granted – at discount		81,596		$	0.00	$	92.37
– at market value		10,688		$	99.85	$	32.73
Exercised		(185,488	)	$	53.07	$	30.28
Forfeited		(63,656	)	$	6.29	$	68.80
Outstanding at December 31, 2021		286,033		$	18.08	$	62.88

Stock Equivalent Units [Member]

Assumptions Used to Determine Fair Value of SEUs

The following assumptions were used to determine the fair value of SEUs at the balance sheet dates:

	2021			2020			2019
Dividend yield		1.28	%		1.15	%		0.99	%
Expected life		5 years			5 years			5 years
Volatility (daily)		39.6	%		39.9	%		26.6	%
Risk free interest rate		0.97	%		0.17	%		1.62	%