Accounting for Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

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

Schedule of Stock-based Compensation Expense

The total stock-based compensation expense for the years ended December 31, 2023, 2022, and 2021, the unrecognized compensation expense at December 31, 2023, and the weighted-average period to recognize the remaining unrecognized shares are as follows:

	Stock-Based Compensation Expense
	Recognized as of December 31,						Unrecognized  as of December 31,
	2023		2022		2021		2023		Weighted Average Period to Recognize (years)
Restricted Stock Units	$	9,413	$	9,300	$	8,563	$	13,517		1.7
Cash-Settled Restricted Stock Units		8,061		5,709		8,251		11,558		1.7
Non-Employee Director Awards		1,029		1,087		937		481		0.4
Performance Shares		4,416		2,784		3,731		4,351		1.5
Total	$	22,919	$	18,880	$	21,482	$	29,907

Outstanding Stock Option Activity

The following table summarizes the changes in outstanding stock options:

	Number of  Shares			Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding at January 1, 2021		38,227		$	31.93
Exercised		(8,535	)	$	27.17
Granted		—		$	—
Forfeited/Expired		—		$	—
Outstanding at December 31, 2021		29,692		$	33.30
Exercised		(18,807	)	$	32.04
Granted		—		$	—
Forfeited/Expired		—		$	—
Outstanding at December 31, 2022		10,885		$	35.49
Exercised		(8,254	)	$	33.84
Granted		—		$	—
Forfeited/Expired		—		$	—
Outstanding at December 31, 2023		2,631		$	40.68	$	246
Vested plus expected to vest at December 31, 2023		2,631		$	40.68	$	246
Exercisable at December 31, 2023		2,631		$	40.68	$	246

Schedule of Stock Options Outstanding by Exercise Price Range

Information regarding stock options outstanding as of December 31, 2023 is summarized below:

	OPTIONS OUTSTANDING						OPTIONS EXERCISABLE
Range of Exercise Prices	Number Outstanding As of December 31, 2023		Weighted Average Remaining Contractual Term		Weighted Average Exercise Price		Number Exercisable As of December 31, 2023		Weighted Average Exercise Price
$40.68 to $40.68		2,631		0.2	$	40.68		2,631	$	40.68

Summary of Non-employee Director Awards

The Company grants awards of registered shares to its non-employee directors on an annual basis under the A&R Omnibus Plan. A summary of the non-employee director awards is presented below:

	Number of Shares			Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Non-vested RSUs at January 1, 2021		6,510		$	64.47
Granted		11,186		$	90.73
Vested		(12,110	)	$	76.61
Cancelled		—		$	—
Non-vested RSUs at December 31, 2021		5,586		$	90.73
Granted		11,399		$	95.35
Vested		(11,637	)	$	93.39
Cancelled		—		$	—
Non-vested RSUs at December 31, 2022		5,348		$	94.79
Granted		8,211		$	127.81
Vested		(9,457	)	$	109.14
Cancelled		—		$	—
Non-vested RSUs at December 31, 2023		4,102		$	127.81	$	550
RSUs expected to vest in the future		4,102		$	127.81	$	550

Summary of Performance Shares Activity

A summary of the Company’s PSAs is presented below.

	Number of Shares			Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Non-vested PSAs at January 1, 2021		142,121		$	68.19
Granted		54,216		$	85.03
Vested		(63,258	)	$	65.05
Cancelled		—		$	—
Non-vested PSAs at December 31, 2021		133,079		$	76.54
Granted		38,412		$	93.15
Vested		(47,634	)	$	82.38
Cancelled		(3,170	)	$	80.64
Non-vested PSAs at December 31, 2022		120,687		$	79.42
Granted		36,956		$	115.67
Vested		(45,141	)	$	58.76
Cancelled		(6,934	)	$	61.49
Non-vested PSAs at December 31, 2023		105,568		$	102.12	$	14,156
PSAs expected to vest in the future		69,650		$	104.95	$	9,339

Schedule of Fair Value Assumptions using Monte Carlo Simulation Model for Awards Granted

The fair value assumptions using the Monte Carlo simulation model for awards granted in 2023, 2022, and 2021 were:

	2023			2022			2021
Dividend Yield		0.5	%		0.6	%		0.6	%
Historical Volatility		33.6	%		39.0	%		40.9	%
Risk-Free Rate of Returns		3.8	%		2.1	%		0.3	%

Restricted Stock Units (RSUs)

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

Schedule of Restricted Stock Unit Activity

A summary of the Company’s RSUs is presented below.

	Number of Shares			Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Non-vested RSUs at January 1, 2021		305,399		$	66.51
Granted		132,757		$	95.68
Vested		(119,203	)	$	66.46
Cancelled		(15,117	)	$	68.53
Non-vested RSUs at December 31, 2021		303,836		$	79.17
Granted		148,361		$	93.70
Vested		(140,666	)	$	76.53
Cancelled		(26,705	)	$	77.16
Non-vested RSUs at December 31, 2022		284,826		$	88.23
Granted		89,388		$	110.80
Vested		(93,881	)	$	78.05
Cancelled		(21,815	)	$	94.01
Non-vested RSUs at December 31, 2023		258,518		$	99.25	$	34,665
RSUs expected to vest in the future		230,953		$	98.82	$	30,968

Cash Settled RSUs

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

Schedule of Restricted Stock Unit Activity

CSRSUs generally have a vesting term of three years. The fair value of CSRSUs vested and settled in cash for the years ended December 31, 2023, 2022, and 2021 was $7.9 million, $6.6 million and $8.7 million, respectively. A summary of the Company’s CSRSUs is presented below.

	Number of Shares			Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Non-vested CSRSUs at January 1, 2021		241,481		$	65.06
Granted		52,246		$	89.51
Vested		(104,272	)	$	63.96
Cancelled		(23,195	)	$	69.68
Non-vested CSRSUs at December 31, 2021		166,260		$	72.79
Granted		115,024		$	97.88
Vested		(75,566	)	$	73.20
Cancelled		(17,299	)	$	80.02
Non-vested CSRSUs at December 31, 2022		188,419		$	87.28
Granted		70,742		$	110.65
Vested		(81,537	)	$	76.26
Cancelled		(19,040	)	$	91.94
Non-vested CSRSUs at December 31, 2023		158,584		$	102.82	$	21,264
CSRSUs expected to vest in the future		134,808		$	102.31	$	18,076