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Share-Based Compensation | 9 Months Ended
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Sep. 30, 2021
Share Based Compensation [Abstract] |
Share-Based Compensation | Note 2. Share-Based Compensation The Company has historically granted the majority of its share-based awards during the second quarter of each fiscal year. During the nine months ended September 30, 2021 and 2020, the Company awarded 307 and 511 restricted stock units (RSUs), respectively. The RSUs were granted at a weighted-average fair value of $113.82 in 2021 and $74.21 in 2020. The RSUs vest annually over 3 years based on continued employment and are settled upon vesting in shares of the Company's common stock on a one-for-one basis. The value of an RSU award is based on the Company's stock price on the date of grant. Additionally, in 2021 and 2020, 13 and 19 fully vested RSUs were granted to non-employee directors, respectively. The Company also awarded 75 and 95 performance stock units (PSUs) in 2021 and 2020, respectively. Outstanding PSUs include performance conditions to be finally measured in 2021, 2022 and 2023. The final number of PSUs will be determined using an adjustment factor of up to 2 times or down to 0.5 of the targeted PSU grant. If the minimum performance thresholds are not achieved, no shares will be issued. Each PSU will convert to one share of the Company's common stock upon vesting. The grant of employee stock purchase rights and the issuance of shares under the employee stock purchase plan are made in the third quarter of each fiscal year and 698 and 677 shares were issued in the three and nine months ended September 30, 2021 and 2020, respectively. The fair value of the employee stock purchase rights granted was $28.55 and $23.26 per share in 2021 and 2020, respectively. The Company recognizes stock compensation expense based on the fair value of awards granted to employees and directors under the Company’s Amended 2017 Plan and employee stock purchase rights plans. This expense, adjusted for expected performance and forfeitures, is recognized in net earnings on a straight-line basis over the service periods as salaries and related costs on the condensed consolidated statements of earnings. Restricted stock units (RSUs) and performance share units (PSUs) awarded to certain employees meeting specific retirement eligibility criteria at the time of grant are expensed immediately as there is no substantive service period associated with those awards.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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