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Employee Benefits (Tables)
12 Months Ended
Dec. 31, 2024
Compensation And Retirement Disclosure [Abstract]  
Summary of Option Activity

Weighted

Aggregate

Weighted

Average

Intrinsic

Average

Remaining

Value

 

Options

 

Exercise Price

 

Contractual Life

 

(in 000’s)

Outstanding as of January 1, 2024

3,283,420

$

46.31

Granted

379,344

72.30

Exercised

(807,026)

35.45

Forfeited or expired

(17,800)

56.64

Outstanding as of December 31, 2024

2,837,938

$

52.80

 

4.51

$

84,046

Exercisable at December 31, 2024

1,522,274

$

45.49

 

3.32

$

57,319

Summary of Weighted Average Grant-date Assumptions and Weighted Average Fair Values

 

2024

 

2023

 

2022

 

Weighted-average fair value of grants

$

15.81

$

13.62

$

10.71

Risk-free interest rates

4.83

%

3.59

%

2.95

%

Dividend yield

2.30

%

2.28

%

2.50

%

Expected volatility

23.09

%

22.97

%

22.89

%

Expected option life

5.02

years

4.96

years

5.05

years

Schedule of Restricted Stock Units Activity

Weighted

Average

Grant Date

 

RSUs

 

Fair Value

Nonvested at January 1, 2024

90,187

$

62.58

Granted

42,762

72.11

Reinvested

3,004

81.53

Vested

(34,396)

61.48

Forfeited

(2,462)

67.18

Nonvested at December 31, 2024

99,095

$

66.89