Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes information about the Company’s stock option awards during 2019:

	Number of Shares		Weighted-Average Exercise Price
Outstanding, January 1, 2019	684,149		$	37.87
Granted	135,270		60.37
Exercised	(180,169	)	27.91
Forfeited	(18,965	)	48.35
Outstanding, December 31, 2019	620,285		45.35

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding at December 31, 2019:

	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number of Shares	Average Remaining Life (Years)	Average Exercise Price		Number of Shares	Average Exercise Price
$15.27 to $20.69	21,195	0.97	$	19.95	21,195	$	19.95
$24.24 to $30.71	124,000	5.82	30.32		124,000	30.32
$34.92 to $37.13	133,905	5.21	36.13		133,905	36.13
$47.04 to $59.28	215,584	7.69	53.28		101,048	50.86
$59.46 to $63.38	125,601	9.16	60.70		2,039	63.38

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

The fair value of each stock option grant on the date of grant was estimated using the Black-Scholes option-pricing model based on the following weighted average assumptions:

	2019		2018		2017
Risk-free interest rate	2.43	%	2.60	%	1.90	%
Expected life (years)	5.5		5.3		5.3
Expected volatility	25.0	%	24.1	%	26.1	%
Expected dividend yield	1.43	%	1.74	%	1.82	%

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable

The following table summarizes information about stock options outstanding that are expected to vest and stock options outstanding that are exercisable at December 31, 2019:

Options Outstanding, Expected to Vest						Options Outstanding, Exercisable
Shares	Weighted- Average Exercise Price		Aggregate Intrinsic Value		Weighted- Average Remaining Term (Years)	Shares	Weighted- Average Exercise Price		Aggregate Intrinsic Value		Weighted- Average Remaining Term (Years)
610,325	$	45.35	$	10,145	6.85	382,187	$	37.39	$	9,394	5.77

Schedule of Share-based Compensation, Restricted Stock Units, Activity

The following table summarizes information about the Company’s Rights during 2019:

	Service Based Rights				Service and Performance Based Rights				Service and Market Based Rights
	Number of Units		Weighted-Average Grant Date Fair Value		Number of Units		Weighted-Average Grant Date Fair Value		Number of Units		Weighted-Average Grant Date Fair Value
Outstanding, January 1, 2019	263,981		$	45.07	147,051		$	44.71	123,938		$	64.78
Granted	124,900		48.91		58,935		59.87		29,467		96.10
Forfeited	(24,088	)	54.85		(5,081	)	59.23		(3,417	)	82.02
Additional Earned	—		—		36,990		31.34		51,726		48.87
Issued	(108,606	)	48.54		(96,651	)	31.34		(111,387	)	48.87
Outstanding, December 31, 2019	256,187				141,244				90,327