XML 39 R24.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Share-Based Compensation Plans | 12 Months Ended
--- | ---
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Share-Based Compensation Plans | SHARE-BASED COMPENSATION PLANS We have an incentive plan under which stock awards, stock units, and other share-based compensation may be granted to officers, non-employee directors, and key employees of the Company. Under the terms of this plan, 3,250,000 shares were authorized, and 599,493 shares remain available for grant or issuance as of December 31, 2024. Any issuances under this plan are valued at the fair market value of our common stock on the grant date. Forfeitures are recognized as they occur. The following table summarizes activity regarding restricted stock units since December 31, 2021:
|  | Shares |  | Weighted Average Price
Balance, December 31, 2021 |  | 404,468 |  |  | $ | 79.16 |
Granted |  | 107,621 |  |  | $ | 123.52 |
Forfeited |  | (4,665) |  |  | $ | 105.88 |
Vested |  | (189,830) |  |  | $ | 67.40 |
Balance, December 31, 2022 |  | 317,594 |  |  | $ | 100.83 |
Granted |  | 103,024 |  |  | $ | 156.06 |
Forfeited |  | (3,018) |  |  | $ | 118.59 |
Vested |  | (122,751) |  |  | $ | 90.38 |
Balance, December 31, 2023 |  | 294,849 |  |  | $ | 124.30 |
Granted |  | 93,636 |  |  | $ | 279.05 |
Forfeited |  | (409) |  |  | $ | 185.51 |
Vested |  | (139,262) |  |  | $ | 105.65 |
Balance, December 31, 2024 |  | 248,814 |  |  | $ | 192.87 |
An aggregate of 30,879 restricted stock units granted to current non-employee directors vested as of December 31, 2024, but, at the election of such directors, issuance has been deferred for up to 10 years from the date of vest. In addition, an aggregate of 13,087 restricted stock units granted to a former employee vested as of April 1, 2024 but, in accordance with plan documents, were not issued until January 2025. We recognized approximately $20.0 million, $13.7 million, and $12.1 million of compensation expense for stock units awarded to non-employee directors and employees pursuant to our incentive plan for the years ended December 31, 2024, 2023, and 2022, respectively. We have approximately $15.9 million of compensation expense, net of income taxes, which will be recognized over the remaining vesting periods of up to 3 years. NOTE 13 - SHARE-BASED COMPENSATION PLANS (Continued) The income tax benefit derived in 2024, 2023, and 2022 as a result of share-based compensation was approximately $5.7 million, $3.3 million, and $3.9 million, respectively, of which approximately $4.0 million, $1.7 million, and $1.7 million, respectively, represented excess tax benefits.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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