Long-term Incentive Compensation and Shareholders’ Equity (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Summary of Status of Awards Under Stock-Based Compensation Plans and Agreements

A combined summary of the status of the Company’s stock-settled awards under both the 2020 Plan and 2011 Plan, including base shares for stock-settled stock appreciation rights (SSARs) and stock-settled stock unit awards is as follows:

	Year ended December 31, 2020
	Stock appreciation rights					Stock units
	Awards		Weighted average exercise price		Weighted average remaining contractual life	Awards		Weighted average remaining contractual life
Outstanding at beginning of year	6,953		$	64.10		3,160
Granted	2,765		$	68.58		1,027
Added by performance factor						19
Exercised/Vested	(894)		$	72.13		(351)
Expired	(494)		$	83.61		—
Canceled	(246)		$	61.36		(318)
Outstanding at end of period	8,084		$	63.64	3.0	3,537		1.8
Exercisable at end of period	987		$	69.56	1.0	—		—
Weighted-average fair value of grants:
2020	$	26.70				$	77.83
2019	$	14.04				$	50.58
2018	$	16.24				$	66.23

Summary of Range of Exercise Prices

	Awards Outstanding	Weighted average exercise price		Awards exercisable	Weighted average exercise price
Range of SSARs base prices
$50.01–$60.00	2,263	$	52.53	2	$	57.88
$60.01–$70.00	5,165	$	66.99	610	$	65.95
$70.01–$80.00	656	$	75.60	375	$	75.50
Total	8,084	$	63.64	987	$	69.56

Summary of Weighted Average Valuation Inputs

A summary of the weighted average valuation inputs described above used for estimating the grant-date fair value of SSAR awards granted in the periods indicated is as follows: 

	Year ended December 31,
	2020		2019		2018
Expected term	4.8		4.0		4.2
Expected volatility	28.2	%	29.5	%	23.8	%
Expected dividend yield	—	%	—	%	—	%
Risk-free interest rate	1.5	%	2.2	%	2.9	%