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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
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 2022:

Number of
Shares
Weighted-Average
Exercise
Price
Outstanding, January 1, 2022766,614 $50.71 
Granted1,306,370 31.66 
Exercised(5,209)28.77 
Forfeited(215,172)46.83 
Outstanding, December 31, 20221,852,603 37.79 
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, 2022:

 Options OutstandingOptions Exercisable
Range of
Exercise
Prices
Number
of Shares
Average
Remaining
Life (Years)
Average
Exercise
Price
Number
of Shares
Average
Exercise
Price
$30.32
1,183,406 9.53$30.32  $ 
$30.71 to $37.13
128,164 3.1532.14 120,800 32.07 
$45.25 to $47.07
154,882 5.3146.36 117,282 46.72 
$51.55 to $59.28
209,082 5.1655.89 176,676 56.49 
$59.46 to $66.10
177,069 5.0062.92 168,045 62.94 
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:
202220212020
Risk-free interest rate1.98 %0.55 %1.45 %
Expected life (years)5.55.55.5
Expected volatility40.1 %40.0 %26.0 %
Expected dividend yield1.22 %1.23 %1.25 %
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, 2022:

Options Outstanding, Expected to VestOptions Outstanding, Exercisable
Shares (1)
Weighted-
Average
Exercise
Price
Aggregate
Intrinsic
Value
Weighted-
Average
Remaining
Term (Years)
SharesWeighted-
Average
Exercise
Price
Aggregate
Intrinsic
Value
Weighted-
Average
Remaining
Term (Years)
1,784,035$37.79 $13,075 7.82582,803 $51.32 $1,061 4.21
 
(1) Includes 1,183,406 of Performance-Vested Stock Options that were granted to the CEO in July 2022. It is assumed that such options achieve the required five-year compound annual growth rates and are 100% vested.
Schedule of Share-based Compensation, Restricted Stock Units, Activity
The following table summarizes information about the Company’s Rights during 2022:

Service Based RightsService and Performance Based RightsService and Market Based Rights
Number of UnitsWeighted-Average Grant Date Fair ValueNumber of UnitsWeighted-Average Grant Date Fair ValueNumber of UnitsWeighted-Average Grant Date Fair Value
Outstanding, January 1, 2022259,107 $49.27 174,197 $58.70 87,115 $97.62 
Granted250,789 40.75 90,412 44.72 45,222 83.42 
Forfeited(86,056)49.59 (71,329)49.33 (35,664)87.89 
Additional Earned  (52,919)60.53 (26,469)97.19 
Issued(121,601)52.98     
Outstanding, December 31, 2022302,239 140,361 70,204