Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Summary of Option Activity

The following table summarize option activity in 2021:

						Weighted		Aggregate
				Weighted		Average		Intrinsic
				Average		Remaining		Value
	Options			Exercise Price		Contractual Life		(in 000’s)
Outstanding as of January 1, 2021		1,632,334		$	70.67
Granted		260,271			109.67
Exercised		(215,065	)		55.50
Cancelled or forfeited		(8,215	)		84.29
Outstanding as of December 31, 2021		1,669,325		$	78.63		4.90	$	56,018
Exercisable at December 31, 2021		784,768		$	67.14		3.66	$	35,282

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

The fair value of options were estimated using a Black-Scholes based option pricing model with the following weighted-average grant-date assumptions and weighted-average fair values as of December 31:

	2021			2020			2019
Weighted-average fair value of grants	$	17.11		$	13.24		$	13.49
Risk-free interest rates		0.75	%		0.39	%		2.26	%
Dividend yield		2.06	%		2.30	%		2.69	%
Expected volatility		22.73	%		22.67	%		22.71	%
Expected option life		4.97	years		4.96	years		4.96	years

Schedule of Restricted Stock Units Activity

				Weighted
				Average
				Grant Date
	RSUs			Fair Value
Nonvested at January 1, 2021		47,658		$	81.53
Granted		16,780			113.02
Reinvested		1,233			108.00
Vested		(19,725	)		72.53
Forfeited		(878	)		94.28
Nonvested at December 31, 2021		45,068		$	97.67