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Stock Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Weighted Average Assumptions | The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions used:
Grant Year |  | Dividend Yield |  |  | Expected Volatility |  |  | Risk Free Interest Rate |  |  | Expected Lives |
2020 |  | 5% |  |  | 45% |  |  | 2% |  |  |  | 6 |
2019 |  | 5% |  |  | 46% |  |  | 2% |  |  |  | 6 |
2018 |  | 5% |  |  | 46% |  |  | 2% |  |  |  | 6 |
Stock Option Transactions under Various Stock-Based Employee Compensation Plans | Information regarding the 1996 Plan for the year ended December 31, 2020 is as follows:
|  | Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Contractual Life |
Outstanding, beginning of year |  |  | 608,375 |  |  | $ | 57.97 |  |  |  |  |
Granted |  |  | 63,500 |  |  |  | 71.91 |  |  |  |  |
Exercised |  |  | (61,949 | ) |  |  | 50.66 |  |  |  |  |
Forfeited |  |  | — |  |  |  | — |  |  |  |  |
Expired |  |  | (11,000 | ) |  |  | 50.81 |  |  |  |  |
Outstanding, end of year |  |  | 598,926 |  |  |  | 60.34 |  |  |  | 5.42 |
Exercisable at end of year |  |  | 422,626 |  |  |  | 55.06 |  |  |  | 4.25 |
Summary of ESPP Share Activity | The following is a summary of 2019 ESPP share activity for the year ended December 31, 2020:
|  | Shares |
Available for future purchases, January 1, 2020 |  |  | 438,434 |
Additional shares reserved under 2019 ESPP |  |  | 86,093 |
Purchases |  |  | (154,756 | )
Available for future purchases, December 31, 2020 |  |  | 369,771 |

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- Definition Tabular disclosure of employee stock purchase plan activity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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