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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Restricted and Deferred Stock Activity A summary of restricted and deferred stock activity follows:
 Number of shares
Non-vested shares outstanding at January 1, 20221,284,206 
Awarded:
Time-vesting190,442 
Performance-based207,212 
Released:
Time-vesting(348,062)
Performance-based(305,492)
Forfeitures:
Time-vesting(73,188)
Performance-based(12,283)
Non-vested shares outstanding at December 31, 2022942,835 
Summary of Average Grant-Date Fair Value of Restricted Stock The average grant-date fair value of restricted stock awarded in 2022, 2021 and 2020 follows:
202220212020
Time-vesting$96.29 $100.08 $70.07 
Performance-based111.84 100.99 72.08 
Schedule of Weighted Average Assumptions on Performance-Based Shares The fair values of the performance-based awards that include a market condition were calculated using a Monte Carlo valuation model and the following weighted average assumptions:
202220212020
Risk-free interest rate1.0 %0.2 %1.6 %
Expected term (years)333
Expected stock price volatility34.8 %35.5 %22.0 %