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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Compensation Expense and Related Income Tax Benefit Recognized for All Share-Based Awards For the years ended December 31, 2021, December 31, 2020, and December 31, 2019, compensation expense and the related income tax benefit recognized for stock options and restricted stock were as follows:

(dollars in thousands)

 

2021

 

 

2020

 

 

2019

 

Compensation Expense

 

$

13,267

 

 

$

7,578

 

 

$

8,338

 

Income Tax Benefit

 

 

3,520

 

 

 

2,009

 

 

2,210

 

 

 

Schedule of Activity for Restricted Stock

The following table presents the activity for restricted stock:

 

 

 

Number of Shares

 

 

Weighted Average

Grant Date Fair Value

 

 

Grant Date Fair

Value of

Restricted Stock

that Vested

During the Year

(in thousands)

 

Unvested as of December 31, 2018

 

 

314,487

 

 

$

78.17

 

 

 

 

 

Granted

 

 

130,093

 

 

 

82.82

 

 

 

 

 

Vested

 

 

(107,759

)

 

 

66.46

 

 

$

8,910

 

Forfeited

 

 

(26,872

)

 

 

83.34

 

 

 

 

 

Unvested as of December 31, 2019

 

 

309,949

 

 

$

83.75

 

 

 

 

 

Granted

 

 

161,168

 

 

 

80.97

 

 

 

 

 

Vested

 

 

(99,894

)

 

 

84.69

 

 

$

8,544

 

Forfeited

 

 

(42,454

)

 

 

84.36

 

 

 

 

 

Unvested as of December 31, 2020

 

 

328,769

 

 

$

82.02

 

 

 

 

 

Granted

 

 

292,007

 

 

 

90.23

 

 

 

 

 

Vested

 

 

(97,278

)

 

 

78.55

 

 

$

8,673

 

Forfeited

 

 

(22,962

)

 

 

86.48

 

 

 

 

 

Unvested as of December 31, 2021 1

 

 

500,536

 

 

$

87.28

 

 

 

 

 

1   As of December 31, 2021, 138,872 shares were unvested from service-based grants.

Schedule of Activity for Restricted Stock Units

The following table presents the activity for RSUs:

 

 

 

Number of Units

 

 

Weighted Average

Grant Date Fair Value

 

 

Fair Value of Restricted

Stock Unit that Vested

During the Year

(in thousands)

 

Balance as of December 31, 2018

 

 

52,064

 

 

$

63.92

 

 

 

 

 

Vested

 

 

(52,064

)

 

 

82.23

 

 

$

4,311

 

Balance as of December 31, 2019

 

 

 

 

$

 

 

 

 

 

Schedule of Activity Related to Stock Options

The following table presents the activity related to stock options under all plans for the year ended December 31, 2021:

 

 

 

Stock

Options

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Contractual

Term (in years)

 

 

Aggregate

Intrinsic

Value

(in thousands)

 

Stock Options Outstanding as of January 1, 2021

 

 

184,054

 

 

$

45.28

 

 

 

 

 

 

 

 

 

Exercised

 

 

(165,920

)

 

 

45.04

 

 

 

 

 

 

 

 

 

Expired

 

 

(833

)

 

 

42.22

 

 

 

 

 

 

 

 

 

Stock Options Outstanding as of December 31, 2021

 

 

17,301

 

47.72

 

 

 

0.1

 

 

$

624

 

Stock Options Vested and Exercisable as of December 31, 2021

 

 

17,301

 

47.72

 

 

 

0.1

 

624

 

 

Summary of Certain Stock Option Activity

The following summarizes certain stock option activity of the Company for the years ended December 31, 2021, December 31, 2020, and December 31, 2019:

 

(dollars in thousands)

 

2021

 

 

2020

 

 

2019

 

Intrinsic Value of Stock Options Exercised

 

$

6,755

 

 

$

2,261

 

 

$

1,106

 

Cash Received from Stock Options Exercised

 

 

7,473

 

 

 

2,438

 

 

 

1,473

 

Tax Benefits Realized from Stock Options Exercised

 

 

1,611

 

 

 

485

 

 

 

727