XML 51 R37.htm IDEA: XBRL DOCUMENT
v3.20.4

Share-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Total Share-Based Compensation Expense | Total share-based compensation expense was as follows for the years ended December 31:
| 2020 |  | 2019 |  | 2018
| (In thousands)
Stock option expense | $ | 13,695 |  |  | $ | 12,810 |  |  | $ | 11,390 |
Restricted stock expense | 17,997 |  |  | 16,169 |  |  | 14,400 |
PRSU expense | 9,873 |  |  | 11,415 |  |  | 1,525 |
Total pre-tax expense | $ | 41,565 |  |  | $ | 40,394 |  |  | $ | 27,315 |
Weighted Average Assumptions Used for Estimating Fair Values of Stock Options Granted | The following weighted average assumptions were used in the Black-Scholes-Merton model to estimate the fair values of stock options granted during the years indicated:
| 2020 |  | 2019 |  | 2018
Expected volatility | 22.2 | % |  | 19.1 | % |  | 17.3 | %
Expected term (years) | 5.0 |  | 5.0 |  | 5.0
Risk-free interest rate | 0.52 | % |  | 2.25 | % |  | 2.81 | %
Expected dividend yield | 1.14 | % |  | 0.66 | % |  | 0.76 | %
Black-Scholes-Merton fair value per stock option granted | $ | 11.01 |  |  | $ | 16.85 |  |  | $ | 14.12 |
Summary of Stock Option Activity and Related Information | The following is a summary of the Company’s stock option activity and related information for the year ended December 31, 2020:
| Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life |  | Aggregate Intrinsic Value
| (In thousands) |  |  |  | (Years) |  | (In millions)
Outstanding at the beginning of the year | 4,303 |  |  | $ | 62.50 |  |  |  |  |
Granted | 963 |  |  | 63.37 |  |  |  |  |
Exercised | (1,191) |  |  | 53.46 |  |  |  |  |
Forfeited | (121) |  |  | 71.64 |  |  |  |  |
Expired | (4) |  |  | 56.75 |  |  |  |  |
Outstanding at the end of the year | 3,950 |  |  | $ | 65.16 |  |  | 6.0 |  | $ | 220.3 |
Exercisable at the end of the year | 2,044 |  |  | $ | 60.80 |  |  | 4.1 |  | $ | 123.0 |
Summary of Nonvested Stock Option Activity and Related Information | The following is a summary of the Company’s non-vested stock option activity and related information for the year ended December 31, 2020:
| Shares |  | Weighted Average Grant Date Fair Value
| (In thousands) |  |
Non-vested stock options outstanding at the beginning of the year | 2,066 |  |  | $ | 14.17 |
Granted | 963 |  |  | 11.01 |
Vested | (1,002) |  |  | 12.90 |
Forfeited | (121) |  |  | 12.45 |
Non-vested stock options outstanding at the end of the year | 1,906 |  |  | $ | 13.34 |
Summary of Nonvested Restricted Stock Activity and Related Information | The following is a summary of the Company’s non-vested restricted stock activity and related information for the year ended December 31, 2020:
| Shares |  | Weighted Average Grant Date Fair Value
| (In thousands) |  |
Non-vested restricted stock outstanding at the beginning of the year | 561 |  |  | $ | 72.46 |
Granted | 381 |  |  | 80.27 |
Vested | (201) |  |  | 71.37 |
Forfeited | (40) |  |  | 75.12 |
Non-vested restricted stock outstanding at the end of the year | 701 |  |  | $ | 76.86 |
The following is a summary of the Company’s non-vested performance restricted stock activity and related information for the year ended December 31, 2020:
| Shares |  | Weighted Average Grant Date Fair Value
| (In thousands) |  |
Non-vested performance restricted stock outstanding at the beginning of the year | 148 |  |  | $ | 80.57 |
Granted | 119 |  |  | 63.37 |
Vested | — |  |  | — |
Forfeited | (3) |  |  | 73.35 |
Non-vested performance restricted stock outstanding at the end of the year | 264 |  |  | $ | 72.90 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration