Stock Award Plans (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Compensation Cost Breakdown in Statement of Earnings

The Company has share-based compensation plans which are described below. The compensation cost that has been charged against earnings for the Company’s stock award plans and the income tax benefit recognized in the statement of earnings for stock awards were as follows (in thousands):

	Year Ended December 31,
	2024		2023		2022
Compensation cost	$	15,549	$	14,941	$	13,865
Income tax benefit	$	3,716	$	3,616	$	3,533

Stock Option Valuation Assumptions

The key input variables used in valuing the stock options granted in 2023 were as follows:

	Year Ended December 31,
	2023
Dividend yield	None
Average risk-free interest rate		3.7	%
Stock price volatility		35	%
Estimated option term	7 years

Employee Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Stock Option Activity

The following is a summary of the stock option activity under the employee plan described above:

	Outstanding Non-Qualified or Nonincentive Stock Option Awards			Weighted Average Exercise Price
Outstanding at December 31, 2023		255,245		$	74.00
Exercised		(124,397	)	$	74.35
Expired		—		$	—
Outstanding at December 31, 2024		130,848		$	73.66

Outstanding and Exercisable Stock Options

The following table summarizes information about the Company’s outstanding and exercisable stock options under the employee plan at December 31, 2024:

	Options Outstanding								Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life in Years		Weighted Average Exercise Price		Aggregated Intrinsic Value (in thousands)		Number Exercisable		Weighted Average Exercise Price		Aggregated Intrinsic Value (in thousands)
$73.29		70,038		1.1	$	73.29				70,038	$	73.29
$73.93		54,879		0.5	$	73.93				54,879	$	73.93
$75.50		5,931		—	$	75.50				5,931	$	75.50
$73.29 – $75.50		130,848		1.6	$	73.66	$	4,206		130,848	$	73.66	$	4,206

RSU Activity

The following is a summary of RSU activity under the employee plan described above:

	Unvested RSUs			Weighted Average Grant Date Fair Value Per Unit
Nonvested balance at December 31, 2023		554,604		$	64.61
Granted		167,290		$	84.12
Vested		(192,585	)	$	63.06
Forfeited		(13,930	)	$	68.08
Nonvested balance at December 31, 2024		515,379		$	71.43

Director Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Stock Option Activity

The following is a summary of the stock option activity under the director plan described above:

	Outstanding Non-Qualified or Nonincentive Stock Option Awards			Weighted Average Exercise Price
Outstanding at December 31, 2023		30,345		$	90.57
Exercised		(21,865	)	$	94.80
Expired		—		$	—
Outstanding at December 31, 2024		8,480		$	79.67

Outstanding and Exercisable Stock Options

The following table summarizes information about the Company’s outstanding and exercisable stock options under the director plan at December 31, 2024:

	Options Outstanding								Options Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contractual Life in Years		Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands)		Number Exercisable		Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands)
$70.65		3,188		0.9	$	70.65				3,188	$	70.65
$84.90		2,652		1.4	$	84.90				2,652	$	84.90
$85.30		2,640		1.0	$	85.30				2,640	$	85.30
$70.65 – $85.30		8,480		3.3	$	79.67	$	222		8,480	$	79.67	$	222

Restricted Stock Award Activity

The following is a summary of the restricted stock award activity under the director plan described above:

	Unvested Restricted Stock Award Shares			Weighted Average Grant Date Fair Value Per Share
Nonvested balance at December 31, 2023		620		$	72.65
Granted		14,624		$	109.99
Vested		(15,244	)	$	108.47
Nonvested balance at December 31, 2024		—		$	—