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Stock Award Plans (Tables)
 12 Months Ended
Dec. 31, 2020
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,
  
   
2020
    
2019
    
2018
  
Compensation cost
  
$
14,722
    
$
13,612
    
$
19,104
  
Income tax benefit
  
$
4,143
    
$
3,368
    
$
5,903
  
Stock Option Valuation Assumptions

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

   
Year Ended December 31,
  
 
2020
    
2019
    
2018
  
Dividend yield
  
None
    
None
    
None
  
Average risk-free interest rate
    
1.3
%
    
2.5
%
    
2.7
%
Stock price volatility
    
28
%
    
28
%
    
27
%
Estimated option term
  
5.3 years
    
5.3 years
    
5.5 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
Awards
    
Weighted
Average
Exercise
Price
  
Outstanding at December 31, 2019
    
486,059
    
$
71.65
  
Granted
    
114,600
    
$
73.29
  
Exercised
    
(19,851
)
  
$
64.42
  
Canceled or expired
    
(3,291
)
  
$
95.18
  
Outstanding at December 31, 2020
    
577,517
    
$
72.09
  
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, 2020:

    
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
      
62,315
      
2.1
    
$
51.23
      
-
      
62,315
    
$
51.23
      
-
  
$
64.65 – $68.50
      
94,218
      
3.5
    
$
67.26
              
63,218
    
$
68.43
          
$
73.29 – $75.50
      
380,289
      
4.6
    
$
74.32
              
157,176
    
$
74.98
          
$
84.90 – $101.46
      
40,695
      
1.0
    
$
94.31
              
36,225
    
$
95.47
          
$
51.23 – $101.46
      
577,517
      
3.9
    
$
72.09
    
$
37,000
      
318,934
    
$
71.37
    
$
37,000
  
Restricted Stock Award Activity

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

  
Unvested
Restricted
Stock Award
Shares
    
Weighted
Average
Grant Date
Fair Value
Per Share
  
Nonvested balance at December 31, 2019
    
134,669
    
$
63.28
  
Vested
    
(48,450
)
  
$
63.24
  
Forfeited
    
(2,317
)
  
$
62.46
  
Nonvested balance at December 31, 2020
    
83,902
    
$
63.33
  
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, 2019
    
255,167
    
$
74.96
  
Granted
    
153,460
    
$
73.04
  
Vested
    
(64,039
)
  
$
75.08
  
Forfeited
    
(6,170
)
  
$
73.91
  
Nonvested balance at December 31, 2020
    
338,418
    
$
74.09
  
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
Awards
    
Weighted
Average
Exercise
Price
  
Outstanding at December 31, 2019
    
115,756
    
$
73.68
  
Exercised
    
(12,000
)
  
$
41.24
  
Outstanding at December 31, 2020
    
103,756
    
$
77.44
  
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, 2020:

    
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
  
$
56.45
      
13,276
      
0.3
    
$
56.45
      
-
      
13,276
    
$
56.45
      
-
  
$
61.89 – $62.48
      
22,000
      
1.6
    
$
62.21
              
22,000
    
$
62.21
          
$
70.65 – $99.52
      
68,480
      
3.4
    
$
86.39
              
68,480
    
$
86.39
          
$
56.45 – $99.52
      
103,756
      
2.6
    
$
77.44
    
$
—
      
103,756
    
$
77.44
    
$
—
  
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, 2019
    
1,739
    
$
83.68
  
Granted
    
39,913
    
$
49.84
  
Vested
    
(40,748
)
  
$
51.28
  
Nonvested balance at December 31, 2020
    
904
    
$
49.84