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Share-Based Payments (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Weighted-Average Assumptions Used to Determine Fair Value of Stock Options

The fair values of the options granted during the years ended December 31, 2020, 2019, and 2018 have been estimated at the grant date using the Black-Scholes option-pricing model with the following weighted-average assumptions:

			For the Year Ended December 31,
			2020						2019						2018
Expected volatility			24.8		%				25.3		%				29.2		%
Risk-free interest rate			1.0		%				2.7		%				2.7		%
Expected life (years)			7.1						7.1						7.1
Dividend yield			2.0		%				2.1		%				2.2		%

The fair value of the SARs granted in conjunction with the EHHI acquisition has been estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:

			As of December 31, 2019
Expected volatility			38.6		%
Risk-free interest rate			1.5		%
Expected life (years)			0.3
Dividend yield			—		%

Schedule of Stock Option Activity

A summary of our stock option activity and related information is as follows:

			Shares (In Thousands)						Weighted- Average Exercise Price per Share						Weighted- Average Remaining Life (Years)						Aggregate Intrinsic Value (In Millions)
Outstanding, December 31, 2019			565						$	43.02
Granted			113						76.54
Exercised			(50)						22.53
Outstanding, December 31, 2020			628						50.65						6.4						$	20.1
Exercisable, December 31, 2020			413						41.10						5.3						17.2

Schedule of Restricted Stock Activity

A summary of our issued restricted stock awards is as follows (share information in thousands):

			Shares						Weighted-Average Grant Date Fair Value
Nonvested shares at December 31, 2019			818						$	49.49
Granted			555						61.81
Vested			(609)						45.33
Forfeited			(33)						62.04
Nonvested shares at December 31, 2020			731						61.75

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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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.

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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.

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