XML 85 R57.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Stock-based Compensation Expense (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Fixed-Price Stock Options | The following table summarizes information about the Company’s fixed-price stock options as of and for the year ended December 31, 2024:
| Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2023 | 427,144 |  |  | $ | 129.59 |  |  | 5.8 |  | $ | 14,891 |
Granted | 165,350 |  |  | 118.18 |  |  |  |  |
Exercised | (6,570) |  |  | 57.02 |  |  |  |  |
Forfeited | (30,268) |  |  | 141.91 |  |  |  |  |
Outstanding at December 31, 2024 | 555,656 |  |  | $ | 126.38 |  |  | 5.9 |  | $ | 1,255 |
Exercisable at December 31, 2024 | 316,658 |  |  | $ | 101.73 |  |  | 3.9 |  | $ | 1,255 |
Weighted-Average Assumptions used to Estimate Fair Value of Each Option Granted | The fair value of each option granted during the years ended December 31, 2024, 2023 and 2022 was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Dividend yield | 1.43 | % |  | 1.26 | % |  | 1.32 | %
Volatility | 42.44 | % |  | 40.06 | % |  | 36.21 | %
Average expected life (years) | 6 |  | 6 |  | 6
Risk-free interest rate | 4.33 | % |  | 3.95 | % |  | 1.97 | %
Fair value of options granted | $ | 48.70 |  |  | $ | 98.66 |  |  | $ | 63.00 |
The calculation used the following weighted-average assumptions:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Volatility | 49.11 | % |  | 50.41 | % |  | 51.51 | %
Risk-free interest rate | 4.41 | % |  | 4.51 | % |  | 1.72 | %
Activity in Performance Unit Awards | The following table summarizes activity in performance unit awards as of and for the year ended December 31, 2024:
| Shares |  | Weighted-Average Grant Date Fair Value Per Share
Nonvested, beginning of period | 223,856 |  |  | $ | 207.61 |
Granted | 168,374 |  |  | 129.41 |
Vested | (74,188) |  |  | 133.87 |
Forfeited | (41,014) |  |  | 181.28 |
Nonvested, end of period | 277,028 |  |  | 183.16 |
Activity in Non-Performance Based Restricted Stock Awards | The following table summarizes activity in non-performance based restricted stock and restricted stock unit awards as of and for the year ended December 31, 2024:
| Shares |  | Weighted-Average Grant Date Fair Value Per Share
Nonvested, beginning of period | 198,147 |  |  | $ | 190.40 |
Granted | 137,436 |  |  | 111.78 |
Vested | (88,032) |  |  | 163.53 |
Forfeited | (40,969) |  |  | 169.87 |
Nonvested, end of period | 206,582 |  |  | 152.75 |

X
- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -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
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ShareBasedCompensationAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration