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Stock compensation plans (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Summary of Share-based Compensation Activity The following table summarizes the share-based compensation activity:
202420232022
Share-based compensation expense$31,348 $31,465 $27,224 
Total income tax benefit recognized for share-based compensation arrangements5,325 7,820 6,824 
Net excess tax (deficiency) benefit
(1,542)1,351 1,292 
Weighted-Average Assumptions used to Estimate Fair Value of Options Granted
The fair value of options granted in 2024, 2023 and 2022 was estimated at the date of grant using a Black-Scholes option pricing model. The following weighted-average assumptions were used:
 202420232022
Risk-free interest rate4.28 %4.13 %1.56 %
Expected life of option5.11 years5.07 years5.03 years
Expected dividend yield0.60 %0.57 %0.41 %
Expected volatility30.00 %31.42 %30.09 %
Summary of Stock Option Activity
The following table summarizes the option activity during 2024:
Shares Subject to OptionsWeighted Average Exercise PriceWeighted Average Remaining Contractual Life In Years
Aggregate
Intrinsic
Value
Outstanding, beginning of the year1,293,775 $239.55 
Granted193,826 223.94 
Exercised(50,465)135.91 
Forfeited or expired(43,382)294.22 
Outstanding, end of the year1,393,754 239.43 4.5$13,718 
Exercisable, end of the year1,052,394 $238.65 3.2$13,718 
Summary of Non-Vested Restricted Stock Unit Activity
The following table summarizes the non-vested restricted stock unit activity during 2024:
Number of
Non-Vested
Shares
Weighted
Average
Grant-Date
Fair Value
Weighted
Average
Remaining
Contractual
Life
Aggregate
Intrinsic
Value
Outstanding, beginning of the year190,500 $294.63 
Granted108,777 220.18 
Vested(42,896)370.96 
Forfeited(28,057)262.41 
Outstanding, end of the year228,324 $248.79 1.3$40,637