Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

The following tables summarize option activity for the three-month period ended March 31, 2022:

						Weighted		Aggregate
				Weighted		Average		Intrinsic
				Average		Remaining		Value
	Options			Exercise Price		Contractual Life		(in 000’s)
Outstanding options at January 1, 2022		1,669,325		$	78.63
Options granted		24,000			104.85
Options exercised		(27,180	)		59.23
Options canceled/forfeited		(4,280	)		84.53
Outstanding options at March 31, 2022		1,661,865		$	79.32		4.74	$	52,438
Exercisable options at March 31, 2022		785,927		$	67.89		3.53	$	33,595

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

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

	2022			2021
Weighted-average fair value of grants	$	17.28		$	13.82
Risk-free interest rates		1.20	%		0.27	%
Dividend yield		2.01	%		2.30	%
Expected volatility		22.79	%		22.67	%
Expected option life		5.01	years		4.96	years

Schedule of Restricted Stock Units Activity

				Weighted
				Average
				Grant Date
	RSUs			Fair Value
Nonvested at January 1, 2022		45,068		$	97.67
Reinvested		102			108.75
Forfeited		(692	)		94.53
Nonvested at March 31, 2022		44,478		$	97.74