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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2022
Share-based Payment Arrangement [Abstract]  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
A combined summary of activity in our active stock plans is presented in the table below. Performance stock units outstanding are presented assuming attainment of the maximum payout rate as set forth by the performance criteria. As of September 30, 2022, there were 789,290 shares remaining available for grant for future stock-based compensation awards.
Deferred
Stock Units
Outstanding
Non-Vested
Stock Units
Outstanding
Performance
Stock Units
Outstanding
Stock Options
Outstanding
Number
of Units
Weighted-
Average
Fair Value
at Grant
Number
of Units
Weighted-
Average
Fair Value
at Grant
Number
of Units
Weighted-
Average
Fair Value
at Grant
Number
of Shares
Weighted-
Average
Exercise
Price
Balance, January 1, 202256,301 $79.21 449,337 $93.05 202,460 $84.71 877,681 $69.02 
Authorized— — — — — — — — 
Granted5,382 133.67 4,676 130.30 — — — — 
Exercised/vested(16,022)74.89 — — (25,180)87.18 (191,410)61.44 
Forfeited/expired— — (5,603)93.69 (16,058)87.18 — — 
Balance, September 30, 202245,661 87.15 448,410 93.43 161,222 84.08 686,271 71.14 
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,
2022202120222021
New shares issued from available authorized shares— — — — 
Shares issued from available treasury stock88,350 21,968 232,612 650,044 
Proceeds from stock option exercises$5,270 $1,128 $11,760 $37,810 
Share-based Payment Arrangement, Cost by Plan
Stock-based compensation expense or benefit and the related income tax benefit is presented in the following table. The service period for performance stock units granted each year begins on January 1 of the following year.
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022202120222021
Non-vested stock units$2,174 $1,559 $6,823 $5,210 
Deferred stock units— — 720 700 
Performance stock units999 426 1,160 1,846 
Total$3,173 $1,985 $8,703 $7,756 
Income tax benefit$440 $281 $1,760 $1,162 
Unrecognized Stock-Based Compensation Expense
Unrecognized stock-based compensation expense at September 30, 2022 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 units$11,704 
Performance stock units7,257 
Total$18,961