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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity for the year ended December 31, 2023 for employees:

 

 

Options

 

 

Weighted Average Exercise price

 

 

Weighted Average Remaining Contractual Life
(years)

 

 

Aggregate Intrinsic Value
(in thousands)

 

Outstanding at December 31, 2022

 

 

72,323

 

 

$

155.83

 

 

 

4.6

 

 

$

4,921

 

Exercised

 

 

(34,881

)

 

 

139.76

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2023

 

 

37,442

 

 

$

170.79

 

 

 

3.8

 

 

$

10,013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31, 2023

 

 

21,850

 

 

$

113.98

 

 

 

3.0

 

 

$

7,085

 

Summary of Weighted Average Assumptions Used In Valuing Options

The following table summarizes the weighted average assumptions used in valuing options for the years ended December 31, 2022 and 2021:

 

 

 

 

2022

 

2021

Risk-free interest rate

 

 

 

1.92%

 

1.19%

Expected life in years

 

 

 

3.5

 

3.5

Expected volatility

 

 

 

43.32%

 

40.57%

Dividend rate

 

 

 

 

 

Summary of Restricted Stock Activity

The following table summarizes restricted stock activity during the year ended December 31, 2023:

 

 

 

 

 

 

Shares

 

Weighted Average Grant-date Fair Value

Restricted Stock at December 31, 2022

 

 

 

 

 

48,240

 

$177.89

Granted

 

 

 

 

 

20,056

 

329.32

Vested

 

 

 

 

 

(16,340)

 

101.30

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted Stock at December 31, 2023

 

 

 

 

 

51,956

 

$260.43

Summary of Performance Unit Awards

The following table summarizes performance unit awards during the year ended December 31, 2023:

 

 

 

 

 

 

 

Shares

 

Weighted Average Grant-date Fair Value

Performance Unit Awards at December 31, 2022

 

 

 

 

 

57,431

 

$207.32

Granted

 

 

 

 

 

14,266

 

429.55

Added by performance factor

 

 

 

 

 

31,594

 

132.81

Vested

 

 

 

 

 

(63,188)

 

132.81

Forfeited

 

 

 

 

 

 

Performance Unit Awards at December 31, 2023

 

 

 

 

 

40,103

 

$345.08