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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

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, 2020:

			Options						Weighted Average Exercise Price						Weighted Average Remaining Contractual Life						Aggregate Intrinsic value (in millions)
Outstanding at December 31, 2019			588,024						$	63.36					5.7						$	8.5
Granted			135,006						77.91
Exercised			(21,662)						38.97
Canceled			(82,230)						73.41
Outstanding at September 30, 2020			619,138						66.35						5.8						3.7
Exercisable at September 30, 2020			392,928						54.51						4.5						3.7

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,
			2020						2019
Dividend yield			0.60		%				0.66		%
Risk-free interest rate			1.53		%				2.60		%
Stock price volatility			28.1		%				25.8		%
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, 2020:

			Restricted Stock and Units						Incentive Stock Units						Weighted Average Grant Date Fair Value
Outstanding at December 31, 2019			791,031						572,002						$	73.64
Granted			226,402						247,443						76.67
Vested			(291,332)						(147,069)						77.47
Adjustment for incentive stock awards expected to vest			—						(176,298)						71.84
Canceled			(63,608)						(52,240)						72.47
Outstanding at September 30, 2020			662,493						443,838						73.83

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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
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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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