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Stock-Based Compensation Plans (Tables) | 9 Months Ended
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Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of stock options | Details of the outstanding awards and activity under the 2009 Plan for the nine months ended September 30, 2022 are presented below. Stock Options:
|  | 2009 Plan options |  | Weighted average exercise price per option
Options Outstanding at December 31, 2021 |  | 299,149 |  |  | $ | 178.71 |
Granted (1) |  | 9,793 |  |  | 236.14 |
Exercised |  | (4,304) |  |  | 141.41 |
Forfeited |  | (6,459) |  |  | 180.32 |
Options Outstanding at September 30, 2022 |  | 298,179 |  |  | $ | 181.10 |
Options Exercisable at September 30, 2022 |  | 10,899 |  |  | $ | 151.38 |
__________________________________ (1)Grants are from recipient elections to receive a portion of earned restricted stock awards in the form of stock options.
Schedule of nonvested performance awards granted | Performance Awards:
|  | Performance awards |  | Weighted average grant date fair value per award (1)
Outstanding at December 31, 2021 |  | 284,522 |  |  | $ | 214.73 |
Granted (2) |  | 72,783 |  |  | 254.75 |
Change in awards based on performance (3) |  | (20,356) |  |  | 200.92 |
Converted to shares of common stock |  | (54,053) |  |  | 217.33 |
Forfeited |  | (3,829) |  |  | 230.36 |
Outstanding at September 30, 2022 |  | 279,067 |  |  | $ | 225.46 |
__________________________________ (1)Weighted average grant date fair value per award includes the impact of post grant modifications. (2)The shares of common stock that may be earned is based on the total shareholder return metrics for the Company's common stock for 39,972 performance awards and financial metrics related to operating performance and leverage metrics of the Company for 32,811 performance awards. (3)Represents the change in the number of performance awards earned based on performance achievement.
Summary of valuation options | The Company used a Monte Carlo model to assess the compensation cost associated with the portion of the performance awards granted for which achievement will be determined by using total shareholder return measures. For the awards granted in 2022, the assumptions used are as follows:
|  | 2022
Dividend yield |  | 2.7%
Estimated volatility over the life of the plan (1) |  | 16.1% - 36.8%
Risk free rate |  | 0.72% - 1.68%
Estimated performance award value based on total shareholder return measure |  | $271.98
__________________________________ (1)Estimated volatility over the life of the plan is using 50% historical volatility and 50% implied volatility.
Schedule of restricted stock granted | Restricted Stock:
|  | Restricted stock shares |  | Restricted stock shares weighted average grant date fair value per share |  | Restricted stock shares converted from performance awards
Outstanding at December 31, 2021 |  | 157,066 |  |  | $ | 192.90 |  |  | 74,627 |
Granted - restricted stock shares |  | 82,062 |  |  | 235.02 |  |  | — |
Vested - restricted stock shares |  | (75,880) |  |  | 197.03 |  |  | (48,031) |
Forfeited |  | (3,149) |  |  | 218.12 |  |  | (86) |
Outstanding at September 30, 2022 |  | 160,099 |  |  | $ | 212.03 |  |  | 26,510 |

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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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the change in restricted stock units (RSUs). + References No definition available. + Details
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