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Equity-Based Compensation, Profit Sharing and Deferred Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Summary of Equity-Based Compensation Plans with Grants Outstanding | The following table provides a summary of each of our equity-based compensation plans with grants outstanding at December 31, 2023. Each of the following plans was approved by our shareholders:
Equity-Based Compensation Plans |  | Shares Authorized |  | Options/RSUs Outstanding |  | Shares Available to Issue
2010 Equity Incentive Plan (1) |  | 700,000 |  |  | 23,681 |  |  | — |
2014 Equity Incentive Plan (2) |  | 950,000 |  |  | 273,143 |  |  | 1,778 |
2018 Equity Incentive Plan (3) |  | 275,000 |  |  | 163,248 |  |  | 90,322 |
(1)The 2010 Equity Incentive Plan (the “2010 Plan”) authorized us to issue Options and RSUs. There were 18,211 Options and 5,470 RSUs outstanding as of December 31, 2023. Shares can no longer be granted from this plan. (2)The 2014 Equity Incentive Plan (the “2014 Plan”) authorizes us to issue Options only. (3)The 2018 Equity Incentive Plan (the "2018 Plan") authorizes us to issue Options and RSUs. Of the 275,000 aggregate shares authorized to issue, all may be granted in the form of Options and up to 40,000 may be granted in the form of RSUs. There were 141,236 Options and 22,012 RSUs outstanding as of December 31, 2023. Of the 90,322 shares available to issue, 17,808 may be granted in the form of RSUs.
Summary of Options and RSUs granted during the year | During 2023, we issued 4,100 Options under the 2014 Plan. Approximately half of the Options issued vest over four years in 25% increments beginning on December 31, 2025, while the remaining Options issued vest over two years in 50% increments beginning on December 31, 2027. Vesting for half of the Options issued is contingent solely upon continued employment, while vesting for the other half of the Options is contingent upon both continued employment and our return on capital performance during the three year periods beginning 2023. In addition, we granted 1,904 RSUs under the 2018 Plan during 2023. Of the RSUs granted, 1,214 RSUs will vest over four years in 25% increments beginning on either December 31, 2025 or December 31, 2026, and 690 RSUs will vest over two years in 50% increments beginning on December 31, 2025. Vesting for half of the RSUs issued is contingent solely upon continued employment, while vesting for the other half of the RSUs issued is contingent upon both continued employment and our return on capital performance during the three year periods beginning on either 2023 or 2024, based on the RSU's initial vesting date.
Equity-Based Compensation Plans | The following table provides additional information relative to our equity-based compensation plans for the year ended December 31, 2023:
|  | Shares |  | Weighted Avg. Per Share Exercise Price |  | Weighted Avg. Remaining Contract Life (years) |  | Aggregate Intrinsic Value
Stock Options |  |  |  |  |  |  |  |
Outstanding at December 31, 2022 |  | 590,554 |  |  | $ | 3,060.71 |  |  |  |  |
Granted |  | 4,100 |  |  | 5,424.19 |  |  |  |  |
Exercised |  | (152,086) |  |  | 1,660.69 |  |  |  |  |
Forfeited |  | (9,978) |  |  | 3,820.80 |  |  |  |  |
Outstanding at December 31, 2023 |  | 432,590 |  |  | $ | 3,557.78 |  |  | 6.0 |  | $ | 1,489,264 |
Exercisable at December 31, 2023 |  | 227,684 |  |  | $ | 2,827.99 |  |  | 4.1 |  | $ | 950,003 |
RSUs |  |  |  |  |  |  |  |
Outstanding at December 31, 2022 |  | 33,320 |  |  |  |  |  |  |
Granted |  | 1,904 |  |  |  |  |  |  |
Vested |  | (5,936) |  |  |  |  |  |  |
Forfeited |  | (1,806) |  |  |  |  |  |  |
Outstanding at December 31, 2023 |  | 27,482 |  |  |  |  |  |  | $ | 192,386 |
Vested, but not issued at December 31, 2023 |  | 5,461 |  |  |  |  |  |  | $ | 38,229 |
Black-Scholes Option-Pricing Model Assumptions | The fair value of the Options granted during 2023, 2022 and 2021 was estimated on the grant date using the Pricing Model, based on the following assumptions:
|  | 2023 |  | 2022 |  | 2021
Estimated option life (years) |  | 6.05 |  | 5.61 |  | 5.31
Risk free interest rate (range) |  | 3.53%-4.69% |  | 1.17%-4.36% |  | 0.30%-1.55%
Expected volatility (range) |  | 26.75%-30.01% |  | 24.93%-30.89% |  | 24.46%-30.80%
Expected dividend rate |  | — | % |  | — | % |  | — | %
Weighted average grant-date fair value per share of options granted |  | $ | 1,936.08 |  |  | $ | 1,437.93 |  |  | $ | 1,235.91 |
Exercised Option Proceeds | Information with respect to the vested RSUs and exercised Options is as follows:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Aggregate exercise proceeds |  | $ | 250,509 |  |  | $ | 196,717 |  |  | $ | 142,370 |
Aggregate intrinsic value on exercise dates |  | $ | 635,709 |  |  | $ | 234,732 |  |  | $ | 219,219 |

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