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Stock-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of information with respect to stock options granted
Information with respect to stock options granted under the 2009 and 1994 Plans is as follows:
 2009 Plan
shares		Weighted
average
exercise price
per share		1994 Plan
shares		Weighted
average
exercise price
per share
Options Outstanding, December 31, 2017149,973 $126.77 7,778 $48.60 
Exercised(32,756)126.24 (7,778)48.60 
Granted (1)6,995 161.10 — — 
Forfeited— — — — 
Options Outstanding, December 31, 2018124,212 $128.84 — $— 
Exercised(109,804)129.47 — — 
Granted — — — — 
Forfeited— — — — 
Options Outstanding, December 31, 201914,408 $124.05 — $— 
Exercised(1,902)89.17 — — 
Granted — — — — 
Forfeited— — — — 
Options Outstanding, December 31, 202012,506 $129.35 — $— 
Options Exercisable:    
December 31, 2018117,217 $126.91 — $— 
December 31, 201914,408 $124.05 — $— 
December 31, 202012,506 $129.35 — $— 
Summary of exercise prices and contractual lives of options outstanding
The following summarizes the exercise prices and contractual lives of options outstanding as of December 31, 2020:
2009 Plan
Number of Options		Range—Exercise PriceWeighted Average
Remaining Contractual Term
(in years)
1,387$110.00-$119.990.1
11,119$130.00-$139.991.8
12,506  
Schedule of nonvested performance awards granted
Information with respect to performance awards granted is as follows:
Performance awardsWeighted average grant date fair value per award
Outstanding at December 31, 2017251,770 $155.25 
  Granted (1)100,965 155.31 
  Change in awards based on performance (2)5,990 148.79 
  Converted to restricted stock(88,477)148.79 
  Forfeited(3,119)160.33 
Outstanding at December 31, 2018267,129 $157.21 
  Granted (3)80,512 200.75 
  Change in awards based on performance (2)(16,760)142.03 
  Converted to restricted stock(73,072)142.03 
  Forfeited(4,377)166.44 
Outstanding at December 31, 2019253,432 $176.27 
  Granted (4)77,182 238.03 
  Change in awards based on performance (2)18,112 177.26 
  Converted to restricted stock(96,317)177.26 
  Forfeited(10,488)188.52 
Outstanding at December 31, 2020241,921 $195.13 
_________________________________
(1)     The amount of restricted stock that ultimately may be earned is based on the total shareholder return metrics related to the Company’s common stock for 62,043 performance awards and financial metrics related to operating performance, net asset value and leverage metrics of the Company for 38,922 performance awards.
(2)    Represents the change in the number of performance awards earned based on performance achievement for the performance period.
(3)    The amount of restricted stock that ultimately may be earned is based on the total shareholder return metrics related to the Company’s common stock for 47,502 performance awards and financial metrics related to operating performance and leverage metrics of the Company for 33,010 performance awards.
(4)    The amount of restricted stock that ultimately may be earned is based on the total shareholder return metrics related to the Company’s common stock for 38,823 performance awards and financial metrics related to operating performance and leverage metrics of the Company for 38,359 performance awards.
Summary of valuation options
The Company used a Monte Carlo model to assess the compensation cost associated with the portion of the performance awards granted for which achievement will be determined by using total shareholder return measures. The assumptions used are as follows:
202020192018
Dividend yield2.8%3.1%3.7%
Estimated volatility over the life of the plan (1)
11.1% - 15.5%
13.9% - 18.8%
11.8% - 18.7%
Risk free rate
1.45% - 1.62%
2.46% - 2.57%
1.86% - 2.46%
Estimated performance award value based on total shareholder return measure$254.72$204.15$151.67
_________________________________
(1)     Estimated volatility of the life of the plan is using 50% historical volatility and 50% implied volatility.
Schedule of restricted stock granted
Information with respect to restricted stock granted is as follows:
Restricted stock sharesRestricted stock shares weighted average grant date fair value per shareRestricted stock shares converted from performance awards
Outstanding at December 31, 2017133,633 $172.33 233,928 
  Granted - restricted stock shares98,713 161.58 88,297 
  Vested - restricted stock shares(67,832)171.22 (112,230)
  Forfeited(4,103)166.40 (757)
Outstanding at December 31, 2018160,411 $166.33 209,238 
  Granted - restricted stock shares79,430 196.43 73,072 
  Vested - restricted stock shares(89,289)168.06 (119,064)
  Forfeited(2,226)174.45 (135)
Outstanding at December 31, 2019148,326 $181.29 163,111 
  Granted - restricted stock shares69,228 221.08 96,317 
  Vested - restricted stock shares(79,931)178.41 (111,325)
  Forfeited(5,899)196.22 (1,784)
Outstanding at December 31, 2020131,724 $203.28 146,319