XML 41 R26.htm IDEA: XBRL DOCUMENT v3.22.4
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Share-based Payment Arrangement, Activity [Table Text Block]
Following is a summary of stock option activity for the year ended December 31, 2022, relating to the stock options awarded under the 2018 LTIP and the 2009 LTIP:
 SharesWeighted
Average
Exercise
Price
Weighted Average Remaining Contractual Term (Years)
Aggregate Intrinsic Value(a)
(In thousands)
Options outstanding at December 31, 2021
1,594,600 $37.76 7.34$39,016 
Granted474,000 47.59 
Exercised(49,900)27.36 
Options outstanding at December 31, 2022
2,018,700 $40.33 7.06$15,241 
Options vested or expected to vest at December 31, 2022
1,976,300 $40.21 7.04$15,125 
Options exercisable at December 31, 2022
872,300 $33.22 5.66$11,984 
(a)Intrinsic value is defined as the amount by which the fair value of the underlying common shares exceeds the exercise price of the option.
Five Year Service Stock Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The fair value of our five-year service-based stock options granted during the years ended December 31, 2022, 2021 and 2020 was established at the date of grant using the Black-Scholes pricing model, with the weighted average assumptions as follows:
 Year Ended December 31,
 202220212020
Risk-free interest rate1.87 %0.66 %1.42%
Expected volatility34.06 %31.66 %29.15%
Expected term (in years)5.45.55.6
Weighted average grant date fair value of options granted during the period$16.29$15.69$12.65