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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Target grants performance share
Target grants of performance shares outstanding at December 31, 2022, were as follows:
Grant DatePerformance
Period
Target Grant
of Shares
February 20212021-2023281,129 
February 20222022-2024284,416 
Schedule of share-based payment award, performance shares, valuation assumptions Assumptions used for grants applicable to the market condition for certain performance shares issued in 2022, 2021 and 2020 were:
2022 2021 2020 
Weighted average grant-date fair value$36.25 $37.96 $40.75 
Blended volatility range
24.07% - 31.41%
35.37% - 46.35%
15.30% - 15.97%
Risk-free interest rate range
.71% - 1.68%
.02% - .20%
1.45% - 1.62%
Weighted average discounted dividends per share$2.93 $3.16 $2.91 
Summary of the status of the performance share awards
A summary of the status of the performance share awards for the year ended December 31, 2022, was as follows:
 Number of
Shares
Weighted
Average
Grant-Date
Fair Value
Nonvested at beginning of period555,047 $34.40 
Granted284,416 31.99 
Performance shares earned/unearned(22,750)31.63 
Less:
Vested251,168 36.60 
Nonvested at end of period565,545 $32.32