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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of the Weighted-Average Assumption Used in Estimating Fair Value of Stock Appreciation Rights | The following table summarizes the weighted-average assumptions used in estimating the fair value of the SARs granted during February 2024:
Grant Date | Expected Dividend Yield | Expected Volatility | Risk Free Interest Rate | Expected Term | Weighted Avg. Grant Date Fair Value of 1 SAR
February 2024 | 1.6% | 25.7% | 4.0% | 4.8 years | $88.03
Schedule of the Attributes of the Performance Shares Granted During the Period | The following table summarizes the related assumptions used to determine the fair values of the performance share awards with a market condition granted during February 2024:
Grant Date | Stock Price on Measurement Date | Dividend Yield | Expected Volatility | Risk Free Interest Rate | Expected Term | Weighted Avg. Grant Date Fair Value
February 2024 | $352.55 | 1.4% | 30.6% | 4.1% | 2.9 years | $483.99
The Company expenses these awards on a straight-line basis over the requisite service period and including an assessment of the performance achieved to date. The weighted average fair value per share was $341.19 for the awards granted during February 2024.
Grant Date | Fair Value | Performance Period | Payout Range
February 2024 | $341.19 | Jan 2024 - Dec 2026 | 0%-200%

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock appreciation rights, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), + References No definition available. + Details
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- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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