Share-Based Compensation and Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2020

Restricted stock [Member]

Share-Based Compensation and Benefit Plans

Summary of activity of share-based compensation and benefit plans

	For the Three Months Ended
	March 31,
	2020		2019
Compensation expense for shares issued under the ESPP	$	646	$	577
Income tax benefit from compensation expense related to shares issued under the ESPP		169		142
Compensation expense for restricted shares awarded		351		339
Income tax benefit from compensation expense related to restricted awards	$	92	$	84

Stock option [Member]

Share-Based Compensation and Benefit Plans

Summary of stock options

	Shares	Weighted- Average
	(in thousands)	Exercise Price
Outstanding at December 31, 2019	1,635	$	218.10
Granted	137		387.30
Exercised	(52)		116.78
Forfeited or expired	(7)		258.79
Outstanding at March 31, 2020	1,713	$	234.59
Exercisable at March 31, 2020	1,105	$	183.34

Black-Scholes option pricing model

	March 31,
	2020		2019
Risk free interest rate	1.02	%	2.50	%
Expected life	6.4	Years	6.2	Years
Expected volatility	25.5	%	25.0	%
Expected dividend yield	—	%	—	%

Summary of activity of share-based compensation and benefit plans

	For the Three Months Ended
	March 31,
	2020		2019
Compensation expense for stock options awarded	$	4,878	$	4,508
Income tax benefit from compensation expense related to stock options		1,276		1,112
Weighted-average grant-date fair value of options awarded	$	107.26	$	108.74