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Share-Based Payments (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021, 2020, and 2019 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,
			2021						2020						2019
Expected volatility			28.4		%				24.8		%				25.3		%
Risk-free interest rate			1.1		%				1.0		%				2.7		%
Expected life (years)			7.1						7.1						7.1
Dividend yield			1.9		%				2.0		%				2.1		%

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, 2020			628						$	50.65
Granted			109						80.40
Exercised			(8)						69.23
Forfeitures			(18)						77.01
Outstanding, December 31, 2021			711						54.33						5.9						$	10.4
Exercisable, December 31, 2021			510						45.65						4.8						10.4

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, 2020			731						$	61.75
Granted			368						73.89
Vested			(560)						57.83
Forfeited			(85)						72.18
Nonvested shares at December 31, 2021			454						74.46

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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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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