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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Activity
The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value:

Three Months Ended March 31,
Restricted Shares and Performance Based Shares20202019
Expected quarterly dividends per share$0.3075  $0.2900  
Risk-free interest rate0.72 %2.50 %
Market-Based Shares
Dividend yield2.51 %2.59 %
Expected volatility19.41 %19.55 %
Risk-free interest rate0.72 %2.51 %
The following table summarizes activity in restricted stock awards, including performance-based and market-based shares, and stock options, for the three months ended March 31, 2020:

Restricted StockStock Options
SharesWeighted-
Average
Grant Date Fair Value		SharesWeighted-
Average
Exercise Price
Outstanding at December 31, 2019161,542  $38.21  2,000  $12.22  
Granted
217,913  36.88  —  —  
Exercised
(225,925) 34.28  (2,000) 12.22  
Outstanding at March 31, 2020153,530  $42.10  —  $—  
The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares, and stock options:
Three Months Ended March 31,
Restricted Stock20202019
Weighted-average grant date fair value$36.88  $36.48  
Total fair value of restricted shares that vested (in thousands)$11,269  $5,314  
Stock Options
Total intrinsic value of options exercised (in thousands)$84  $2,582