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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Stock Option Activity

The following table summarizes the Company’s stock option activity and related information for the 2011 Plan, the 2000 Plan and the Directors Plan for the nine months ended September 30, 2019:

	Options			Weighted Average Exercise Price				Weighted Average Remaining Contractual Life		Aggregate Intrinsic value (in thousands)
Outstanding at December 31, 2018	466,677			$	61.04			5.7		$	5,115
Granted	134,450			70.44						210
Exercised	(468	)		64.54						(3		)
Canceled	(4,868	)		69.40						—
Outstanding at September 30, 2019	595,791			63.07				6.2		5,321
Exercisable at September 30, 2019	388,581			54.88				5.2		6,652

Share-Based Fair Value of Each Option Grant Weighted-Average Assumptions

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

	Nine Months Ended September 30,
	2019			2018
Dividend yield	0.66	%		0.31	%
Risk-free interest rate	2.60	%		2.78	%
Stock price volatility	25.8	%		23.9	%
Expected life (years)	5.0			5.0

Restricted Stock Activity and Incentive Stock Awards Activity

The following table summarizes the restricted stock activity and related information for the 2011 Plan, the 2000 Plan and the Directors Plan, and incentive stock units activity for the 2011 Plan and the 2000 Plan with related information for the nine months ended September 30, 2019:

	Restricted Stock and Units			Incentive Stock Units			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2018	445,089			415,243			$	75.51
Granted	578,847			259,950			70.45
Vested	(208,156	)		(119,835	)		71.57
Adjustment for incentive stock awards expected to vest	—			35,976			79.35
Canceled	(21,069	)		(56,924	)		74.12
Outstanding at September 30, 2019	794,711			534,410			73.47

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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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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.

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Schedule of Incentive Stock Awards Activity and Restricted Stock Activity [Table Text Block]

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