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Stock Award Plans (Tables)
 12 Months Ended
Dec. 31, 2019
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 for the years ended December 31, 2019, 2018 and 2017 were as follows (in thousands):



 
2019
    
2018
    
2017
  
Compensation cost
  
$
13,612
    
$
19,104
    
$
11,460
  
Income tax benefit
  
$
3,368
    
$
5,903
    
$
4,333
  
Stock Option Valuation Assumptions The key input variables used in valuing the stock options granted during the years ended December 31, 2019, 2018 and 2017 were as follows:


 
2019
    
2018
    
2017
  
Dividend yield
  
None
    
None
    
None
  
Average risk-free interest rate
    
2.5
%
    
2.7
%
    
2.0
%
Stock price volatility
    
28
%
    
27
%
    
27
%
Estimated option term
  
5.3 years
    
5.5 years
    
5.8 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 for the year ended December 31, 2019:


 
Outstanding
Non-
Qualified or
Nonincentive
Stock
Awards
    
Weighted
Average
Exercise
Price
  
Outstanding at December 31, 2018
    
464,702
    
$
69.85
  
Granted
    
114,429
    
$
74.57
  
Exercised
    
(74,825
)
  
$
64.83
  
Canceled or expired
    
(18,247
)
  
$
72.17
  
Outstanding at December 31, 2019
    
486,059
    
$
71.65
  
Outstanding and Exercisable Stock Options


   
Options Outstanding
  
Options Exercisable
Range of Exercise
Prices
    
Number
Outstanding
    
Weighted
Average
Remaining
Contractual
Life in
Years
    
Weighted
Average
Exercise
Price
  
Aggregated
Intrinsic
Value
  
Number
Exercisable
    
Weighted
Average
Exercise
Price
  
Aggregated
Intrinsic
Value
$
51.23
      
69,254
      
2.8
    
$
51.23
        
69,254
    
$
51.23
  
  
$
64.65 – $68.50
      
97,716
      
4.4
    
$
67.31
        
44,171
    
$
68.43
  
  
$
70.65 – $75.50
      
275,103
      
4.8
    
$
74.69
        
93,985
    
$
74.94
  
  
$
84.90 – $101.46
      
43,986
      
1.8
    
$
94.38
        
37,281
    
$
96.08
  
  
$
51.23 – $101.46
      
486,059
      
4.2
    
$
71.65
  
$8,936,000
    
244,691
    
$
70.28
  
$4,955,000
Restricted Stock Award Activity The following is a summary of the restricted stock award activity under the employee plan described above for the year ended December 31, 2019:


 
Unvested
Restricted
Stock Award
Shares
    
Weighted
Average
Grant Date
Fair Value
Per Share
  
Nonvested balance at December 31, 2018
    
214,216
    
$
64.73
  
Vested
    
(62,748
)
  
$
68.28
  
Forfeited
    
(16,799
)
  
$
63.10
  
Nonvested balance at December 31, 2019
    
134,669
    
$
63.28
  
RSU Activity The following is a summary of RSU activity under the employee plan described above for the year ended December 31, 2019:


 
Unvested RSUs
    
Weighted
Average Grant
Date Fair Value
Per Unit
  
Nonvested balance at December 31, 2018
    
141,055
    
$
75.59
  
Granted
    
146,650
    
$
74.46
  
Vested
    
(25,484
)
  
$
75.60
  
Forfeited
    
(7,054
)
  
$
74.93
  
Nonvested balance at December 31, 2019
    
255,167
    
$
74.96
  
Director Plan [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Stock Option Activity


 
Outstanding
Non-
Qualified or
Nonincentive
Stock
Awards
    
Weighted
Average
Exercise
Price
  
Outstanding at December 31, 2018
    
131,104
    
$
70.14
  
Granted
    
2,652
    
$
84.90
  
Exercised
    
(18,000
)
  
$
49.51
  
Outstanding at December 31, 2019
    
115,756
    
$
73.68
  
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, 2019:


   
Options Outstanding
  
Options Exercisable
Range of Exercise
Prices
    
Number
Outstanding
    
Weighted
Average
Remaining
Contractual
Life in
Years
    
Weighted
Average
Exercise
Price
  
Aggregate
Intrinsic
Value
  
Number
Exercisable
    
Weighted
Average
Exercise
Price
  
Aggregate
Intrinsic
Value
$
41.24 – $56.45
      
25,276
      
0.8
    
$
49.23
        
25,276
    
$
49.23
  
  
$
61.89 – $62.48
      
22,000
      
2.6
    
$
62.21
        
22,000
    
$
62.21
  
  
$
70.65 – $99.52
      
68,480
      
4.4
    
$
86.39
        
67,817
    
$
86.41
  
  
$
41.24 – $99.52
      
115,756
      
3.3
    
$
73.68
  
$2,134,000
    
115,093
    
$
73.62
  
$2,131,000
Restricted Stock Award Activity The following is a summary of the restricted stock award activity under the director plan described above for the year ended December 31, 2019:


 
Unvested
Restricted
Stock Award
Shares
    
Weighted
Average
Grant Date
Fair Value
Per Share
  
Nonvested balance at December 31, 2018
    
264
    
$
85.30
  
Granted
    
22,273
    
$
84.81
  
Vested
    
(20,798
)
  
$
84.91
  
Nonvested balance at December 31, 2019
    
1,739
    
$
83.68