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v3.23.2

Equity Incentive Program (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022
Stock-based compensation expense [Abstract] |  |  |  |
Pre-tax stock-based compensation expense | $ 6,441 | $ 7,218 | $ 18,723 | $ 18,331
Tax benefit | (587) | (731) | (1,951) | (1,846)
Total stock-based compensation expense, net of tax | $ 5,854 | $ 6,487 | $ 16,772 | $ 16,485
Stock Appreciation Rights (SARs) |  |  |  |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |  |  |  |
Equity awards issued during period (in shares) |  |  | 359,715 | 335,285
Risk-free interest rate |  |  | 3.91% | 1.86%
Dividend yield |  |  | 1.32% | 1.25%
Expected life (years) |  |  | 5 years 4 months 24 days | 5 years 4 months 24 days
Volatility |  |  | 30.65% | 29.46%
Grant price (in dollars per share) |  |  | $ 153.25 | $ 160.21
Fair value at date of grant (in dollars per share) |  |  | $ 47.27 | $ 42.07
Performance Shares |  |  |  |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |  |  |  |
Equity awards issued during period (in shares) |  |  | 43,656 | 40,087
Risk-free interest rate |  |  | 4.28% | 1.68%
Dividend yield |  |  | 1.32% | 1.25%
Expected life (years) |  |  | 2 years 10 months 24 days | 2 years 10 months 24 days
Volatility |  |  | 27.30% | 31.10%
Grant price (in dollars per share) |  |  | $ 153.25 | $ 160.21
Fair value at date of grant (in dollars per share) |  |  | $ 249.48 | $ 196.40
Award vesting period |  |  | 3 years |
Restricted Stock Units (RSUs) |  |  |  |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |  |  |  |
Equity awards issued during period (in shares) |  |  | 82,055 | 76,509
Fair value at date of grant (in dollars per share) |  |  | $ 153.25 | $ 160.21

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- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(01) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(iii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(ii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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