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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2021
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, 2021:
| Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life |  | Aggregate Intrinsic value (in millions)
Outstanding at December 31, 2020 | 552,669 |  |  | $ | 69.82 |  |  | 6.1 |  | $ | 4.2 |
Granted | 126,794 |  |  | $ | 81.21 |  |  |  |  |
Exercised | (74,343) |  |  | $ | 52.13 |  |  |  |  |
Canceled | (26,037) |  |  | $ | 74.73 |  |  |  |  |
Outstanding at September 30, 2021 | 579,083 |  |  | $ | 73.11 |  |  | 6.3 |  | $ | 9.0 |
Exercisable at September 30, 2021 | 336,940 |  |  | $ | 58.96 |  |  | 5.7 |  | $ | 9.4 |
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, 2021
Dividend yield | 0.60 | %
Risk-free interest rate | 0.81 | %
Stock price volatility | 36.1 | %
Expected life (years) | 5.0
Restricted Stock Activity and Incentive Stock Awards Activity | The following table summarizes the restricted stock activity and incentive stock units activity for the nine months ended September 30, 2021:
| Restricted Stock and Units |  | Incentive Stock Units |  | Weighted Average Grant Date Fair Value
Outstanding at December 31, 2020 | 656,006 |  |  | 270,645 |  |  | $ | 73.80 |
Granted | 226,896 |  |  | 241,467 |  |  | $ | 81.38 |
Vested | (303,439) |  |  | (37,672) |  |  | $ | 71.52 |
Adjustment for incentive stock awards expected to vest | — |  |  | 120,546 |  |  | $ | 74.32 |
Canceled | (28,732) |  |  | (41,494) |  |  | $ | 76.10 |
Outstanding at September 30, 2021 | 550,731 |  |  | 553,492 |  |  | $ | 77.63 |

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- 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
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- 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
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- Definition Schedule of Incentive Stock Awards Activity and Restricted Stock Activity [Table Text Block] + References No definition available. + Details
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