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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Activity in Corporation's Active Stock Plans
A combined summary of activity in our active stock plans is presented in the table. Performance stock units outstanding are presented assuming attainment of the maximum payout rate as set forth by the performance criteria. As of September 30, 2020, there were 1,109,864 shares remaining available for grant for future stock-based compensation awards.
Director Deferred
Stock Units
Outstanding
Non-Vested Stock
Awards/Stock Units
Outstanding
Performance Stock Units OutstandingStock Options
Outstanding
Number of UnitsWeighted-
Average
Fair Value
at Grant
Number
of Shares/Units
Weighted-
Average
Fair Value
at Grant
Number of UnitsWeighted-
Average
Fair Value
at Grant
Number
of Shares
Weighted-
Average
Exercise
Price
Balance, January 1, 202055,370 $74.76 440,647 $90.22 177,288 $83.48 1,980,866 $64.60 
Authorized— — — — — — — — 
Granted10,428 73.84 458 65.43 — — — — 
Exercised/vested(12,938)71.09 (1,640)76.07 (41,755)69.70 (140,615)53.65 
Forfeited/expired— — (2,813)90.20 (6,894)81.33 (5,427)75.74 
Balance, September 30, 202052,860 $75.47 436,652 $90.24 128,639 $88.07 1,834,824 $65.41 
Shares Issued in Connection with Stock Compensation Awards Shares issued in connection with stock compensation awards along with other related information were as follows:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2020201920202019
New shares issued from available authorized shares— — — — 
Issued from available treasury stock53,425 71,284 196,948 225,184 
Total53,425 71,284 196,948 225,184 
Proceeds from stock option exercises$2,698 $5,665 $7,544 $13,506 
Share-based Payment Arrangement, Cost by Plan
Stock-based compensation expense and the related income tax benefit is presented in the following table.
Three Months Ended
September 30,
Nine Months Ended
September 30,
2020201920202019
Stock options$— $330 $— $1,091 
Non-vested stock awards/stock units1,999 1,536 6,325 5,727 
Director deferred stock units— — 770 780 
Performance stock units444 809 1,132 3,095 
Total$2,443 $2,675 $8,227 $10,693 
Income tax benefit$450 $452 $1,539 $1,768 
Unrecognized Stock-Based Compensation Expense
Unrecognized stock-based compensation expense at September 30, 2020 is presented in the table below. Unrecognized stock-based compensation expense related to performance stock units is presented assuming attainment of the maximum payout rate as set forth by the performance criteria.
Non-vested stock awards/stock units$12,337 
Performance stock units4,651 
Total$16,988