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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Activity Related to Employee and Non-Employee Restricted Stock
Activity related to both employee and non-employee restricted stock for the year ended December 31, 2023 is as follows (in thousands, except per share amounts):
SharesWeighted Average Grant Date Fair Value/Share
RESTRICTED STOCK AT DECEMBER 31, 2022179 $154.09 
Shares granted56 249.36 
Shares vested(60)161.35 
Shares forfeited(6)194.65 
RESTRICTED STOCK AT DECEMBER 31, 2023169 $181.29 
Schedule of Stock Appreciation Rights
Activity related to SARs for the year ended December 31, 2023 is as follows (in thousands, except per share amounts):
Number of RightsWeighted Average Exercise PriceWeighted Average Remaining Contractual TermAggregate Intrinsic Value
OUTSTANDING AT DECEMBER 31, 2022779 $144.66   
Granted101 247.26   
Exercised(237)129.12   
Forfeited(14)200.89   
Canceled(2)111.60 
OUTSTANDING AT DECEMBER 31, 2023627 $165.84 6.7 years$102,333 
EXERCISABLE AT DECEMBER 31, 2023397 $142.04 5.7 years$74,257 
Schedule of the Weighted-Average Assumption Used in Estimating Fair Value of Stock Appreciation Rights
The following table summarizes the weighted-average assumptions used in estimating the fair value of the SARs granted during the years 2023, 2022 and 2021:
Grant DateExpected Dividend YieldExpected VolatilityRisk Free Interest RateExpected TermWeighted Avg. Grant Date Fair Value of 1 SAR
20231.8 %28.0 %3.7 %4.9 years$62.79 
20222.1 %27.4 %1.9 %4.9 years$39.68 
20212.4 %26.5 %0.6 %5.5 years$29.58 
Schedule of the Attributes of the Performance Shares Granted During the Period The following table summarizes the related assumptions used to determine the fair values of the performance share awards with a market condition granted during February 2023, 2022 and 2021:
Grant DateStock Price on Measurement DateDividend YieldExpected VolatilityRisk Free Interest RateExpected TermWeighted Avg. Grant Date Fair Value
February 2023$241.171.9%39.4%4.1%2.9 years$279.47
February 2022$185.872.3%39.7%1.6%2.9 years$221.94
February 2021$163.262.4%40.6%0.2%3 years$198.89
The Company expenses these awards on a straight-line basis over the requisite service period and including an assessment of the performance achieved to date. The weighted average fair value per share was $230.64, $174.48 and $151.92 for the awards granted in 2023, 2022, and 2021, respectively.
Grant DateFair ValuePerformance PeriodPayout Range
February 2023$230.64Jan 2023 - Dec 2025
0-200%
February 2022$174.48Jan 2022 - Dec 2024
0-200%
February 2021$151.92Jan 2021 - Dec 2023
0-200%