Equity Incentive Awards (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Restricted Stock Activities and Related Information

A summary of our restricted stock activities and related information, is as follows:

	Number of Shares	Weighted Average Grant Date Fair Value Per Share
Balance at December 31, 2021	314,907	$53.98
Shares granted	130,600	$77.47
Shares forfeited/cancelled	(11,881)	$33.35
Shares vested	(167,244)	$48.99
Balance at December 31, 2022	266,382	$69.24
Shares granted	143,275	$56.63
Shares forfeited/cancelled	—	$—
Shares vested	(228,478)	$72.25
Balance at December 31, 2023	181,179	$55.84
Granted	107,004	$66.00
Forfeited/Cancelled	(9,780)	$69.95
Vested	(99,462)	$70.11
Balance at December 31, 2024	178,941	$69.51

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of stock options granted was estimated on the grant date using the Black-Scholes-Merton model. The following table includes the assumptions made in the valuation:

	2024	2023
Dividend Yield	3.1%	2.6%
Risk-Free Interest Rate	4.6%	3.4%
Expected Life	5.8 years	5.6 years
Expected Volatility	28.7%	28.1%
Weighted Average Grant Date Fair Value Per Share	$15.28	$16.31

Summary of Stock Option Activity

A summary of our stock option activity and related information, is as follows:

	Shares Subject To Options	Weighted Average Exercise Price Per Share	Weighted Average Outstanding Contractual Life (in years)	Average Intrinsic Value (in millions)
Balance at December 31, 2021	73,775	$52.52	6.9	$2.6
Options issued	7,210	$79.72
Balance at December 31, 2022	80,985	$54.94	6.2	$1.0
Options issued	8,450	$68.01
Balance at December 31, 2023	89,435	$56.18	5.6	$1.4
Options issued	29,855	$60.29
Balance at December 31, 2024	119,290	$57.21	5.8	$1.3
Exercisable at December 31, 2024	90,993	$56.04	4.7	$1.1