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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Valuation assumptions

			Year Ended December 31,
			2021						2020						2019
Dividend yield			—		%				—		%				—		%
Expected volatility			24.2		%				16.6		%				18.1		%
Risk free interest rate			1.0		%				1.2		%				2.5		%
Expected option life			6.0 years						6.0 years						6.0 years

Option activity

A summary of stock option and SAR activity under the Company’s Long Term Incentive and Share Award Plans during 2021 is presented below:

			Year Ended December 31, 2021
			Number of Options / SARs						Weighted Average Exercise Price						Weighted Average Contractual Term						Aggregate Intrinsic Value
Outstanding, beginning of year			17,839,333						$	23.32
Granted			1,243,984						$	35.90
Exercised			(1,931,320)						$	15.57
Forfeited or expired			(68,837)						$	35.39
Outstanding, end of year			17,083,160						$	25.06					4.41						$	331,214
Exercisable, end of year			14,730,147						$	23.20					3.78						$	312,966

Weighted average grant date fair value

			Year Ended December 31,
			2021						2020						2019
Weighted average grant date fair value			$	9.22					$	8.14					$	7.90
Aggregate intrinsic value of Options/SARs exercised			$	47,074					$	59,723					$	51,350

Unvested restricted share and unit activity

A summary of restricted share and restricted unit activity under the Company’s Long Term Incentive and Share Award Plans for 2021 is presented below:

			Restricted Common Shares						Restricted Unit Awards
Unvested Shares:
Unvested balance, beginning of year			1,635,845						1,121,719
Granted			1,085,811						175,962
Vested			(549,892)						(555,870)
Forfeited			(100,927)						(41,945)
Unvested balance, end of year			2,070,837						699,866
Weighted Average Grant Date Fair Value:
Unvested balance, beginning of year			$	36.34					$	31.43
Granted			$	36.14					$	35.94
Vested			$	35.94					$	30.46
Forfeited			$	36.28					$	32.23
Unvested balance, end of year			$	36.35					$	33.29

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Performance shares and units, valuation assumptions

			Year Ended December 31,
			2021						2020						2019
Expected volatility			37.5		%				18.1		%				17.1		%
Risk free interest rate			0.3		%				1.1		%				2.5		%

Unvested performance share and unit activity

			Performance Shares						Performance Units
Unvested Shares:
Unvested balance, beginning of year			1,851,382						32,065
Granted			674,406						10,698
Performance adjustment (1) (2)			(39,510)						11,447
Vested			(624,518)						(24,440)
Unvested balance, end of year			1,861,760						29,770
Weighted Average Grant Date Fair Value:
Unvested balance, beginning of year			$	34.42					$	33.48
Granted			$	37.38					$	37.38
Performance adjustment (1) (2)			24.78						24.71
Vested			$	24.78					$	24.71
Unvested balance, end of year			$	38.93					$	38.71

(1)    The performance adjustment represents the difference between the number of performance shares granted and earned, which vested following the end of the performance period. The performance shares were granted at the maximum level of achievement.

(2)    The performance adjustment represents the change in PSUs, which vested following the end of the performance period. The performance units were granted at the target level of achievement.

Share based compensation expense

The following tables present pre-tax and after-tax share-based compensation expense recognized as well as the unrecognized compensation cost associated with unvested awards and the weighted average period over which it is expected to be recognized.

			Year Ended December 31,
			2021						2020						2019
Pre-Tax
Stock options and SARs			$	12,316					$	11,744					$	12,866
Restricted share and unit awards			46,817						41,284						38,988
Performance awards			23,696						14,729						8,949
ESPP			3,751						2,135						3,045
Total			$	86,580					$	69,892					$	63,848
After-Tax
Stock options and SARs			$	10,927					$	10,388					$	11,450
Restricted share and unit awards			39,349						34,599						32,999
Performance awards			21,920						13,380						8,295
ESPP			3,471						1,978						2,758
Total			$	75,667					$	60,345					$	55,502

Unrecognized compensation cost

			December 31, 2021
			Stock Options and SARs						Restricted Common Shares and Units						Performance Common Shares and Units
Unrecognized compensation cost related to unvested awards			$	8,233					$	45,936					$	7,635
Weighted average recognition period (years)			0.91						1.23						0.52

Restricted Common Shares And Restricted Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted average grant date fair value of restricted stock

The following table presents the weighted average grant date fair value of restricted shares and restricted unit awards granted and the aggregate fair value of restricted shares and unit awards vesting in each year.

			Year Ended December 31,
			2021						2020						2019
Restricted shares and restricted unit awards granted			1,261,773						1,535,330						1,195,741
Weighted average grant date fair value			$	36.12					$	37.55					$	32.89
Aggregate fair value of vested restricted share and unit awards			$	65,477					$	39,703					$	46,262

Performance Common Shares and Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted average grant date fair value of restricted stock

The following table presents the weighted average grant date fair values of performance awards granted.

			Year Ended December 31,
			2021						2020						2019
Performance awards			685,104						557,204						696,360
Weighted average grant date fair value			$	37.38					$	44.17					$	36.05

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