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Share-Based Payments (Tables) | 12 Months Ended
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Dec. 31, 2023
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, 2023, 2022, and 2021 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,
| 2023 |  | 2022 |  | 2021
Expected volatility | 28.5 | % |  | 28.3 | % |  | 28.4 | %
Risk-free interest rate | 4.2 | % |  | 1.7 | % |  | 1.1 | %
Expected life (years) | 6.9 |  | 7.8 |  | 7.1
Dividend yield | 1.1 | % |  | 1.9 | % |  | 1.9 | %
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, 2022 | 836 |  |  | $ | 47.12 |  |  |  |  |
Granted | 77 |  |  | 56.21 |  |  |  |  |
Exercised | (60) |  |  | 24.61 |  |  |  |  |
Outstanding, December 31, 2023 | 853 |  |  | 49.52 |  |  | 5.4 |  | $ | 14.7 |
Exercisable, December 31, 2023 | 667 |  |  | 47.25 |  |  | 4.5 |  | 13.0 |
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, 2022 | 526 |  |  | $ | 63.35 |
Granted | 582 |  |  | 65.20 |
Vested | (367) |  |  | 65.75 |
Forfeited | (35) |  |  | 62.69 |
Nonvested shares at December 31, 2023 | 706 |  |  | 63.60 |

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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