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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2023
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 March 31, 2023, there were 522,119 shares remaining available for grant for future stock-based compensation awards.
Deferred
Stock Units
Outstanding
Non-Vested
Restricted 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, 202345,661 $87.15 465,319 $105.36 213,749 $96.20 616,227 $71.27 
Granted— — 2,594 128.42 — — — — 
Exercised/vested— — (1,631)91.95 (28,151)85.74 (20,605)72.76 
Forfeited/expired— — (1,003)110.79 (18,254)85.74 — — 
Balance, March 31, 202345,661 87.15 465,279 105.53 167,344 99.10 595,622 71.22 
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
March 31,
20232022
New shares issued from available authorized shares49,887 — 
Shares issued from available treasury stock500 115,430 
Proceeds from stock option exercises$1,500 $5,739 
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
March 31,
20232022
Non-vested stock units$3,307 $2,358 
Performance stock units1,435 (246)
Total$4,742 $2,112 
Income tax benefit$1,068 $708 
Unrecognized Stock-Based Compensation Expense
Unrecognized stock-based compensation expense at March 31, 2023 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$18,685 
Performance stock units8,078 
Total$26,763