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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 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 June 30, 2023, there were 514,028 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 
Granted8,503 103.47 2,594 128.42 — — — — 
Exercised/vested— — (1,957)91.96 (28,151)85.74 (33,905)72.13 
Forfeited/expired— — (1,415)116.02 (18,254)85.74 — — 
Balance, June 30, 202354,164 89.71 464,541 105.52 167,344 99.10 582,322 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
June 30,
Six Months Ended
June 30,
2023202220232022
New shares issued from available authorized shares— — 49,887 — 
Shares issued from available treasury stock13,626 28,832 14,126 144,262 
Proceeds from stock option exercises$946 $751 $2,446 $6,490 
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
June 30,
Six Months Ended
June 30,
2023202220232022
Non-vested stock units$2,864 $2,291 $6,171 $4,649 
Deferred stock units880 720 880 720 
Performance stock units1,049 407 2,484 161 
Total$4,793 $3,418 $9,535 $5,530 
Income tax benefit$800 $612 $1,868 $1,320 
Unrecognized Stock-Based Compensation Expense
Unrecognized stock-based compensation expense at June 30, 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$15,768 
Performance stock units7,029 
Total$22,797