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Stock-Based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Stock Option Activity

A summary of the Plans’ stock option activity for the six months ended June 30, 2024 and June 30, 2023 is presented below:

Stock Options			Common Shares						Weighted Average Strike Price						Remaining Contractual Term (1)						Intrinsic Value (2) (in thousands)
Outstanding at January 1, 2024			13,100						$	42.76
Granted			—						—
Exercised			(775)						32.26
Forfeited or canceled			—						—
Outstanding at June 30, 2024			12,325						$	43.42					4.0						$	680
Exercisable at June 30, 2024			12,325						$	43.42					4.0						$	680

Stock Options			Common Shares						Weighted Average Strike Price						Remaining Contractual Term (1)						Intrinsic Value (2) (in thousands)
Outstanding at January 1, 2023			68,093						$	41.14
Granted			—						—
Exercised			(54,218)						40.87
Forfeited or canceled			—						—
Outstanding at June 30, 2023			13,875						$	42.18					4.5						$	422
Exercisable at June 30, 2023			13,875						$	42.18					4.5						$	422

(1)Represents the remaining weighted average contractual life in years.

(2)Aggregate intrinsic value represents the total pre-tax intrinsic value (i.e., the difference between the Company’s stock price on the last trading day of the quarter and the option exercise price, multiplied by the number of shares) that would have been received by the option holders if they had exercised their options on the last day of the quarter. Options with exercise prices above the stock price on the last trading day of the quarter are excluded from the calculation of intrinsic value. The intrinsic value will change based on the fair market value of the Company’s stock.

Schedule of Plans' Restricted and Performance Share Award Activity

A summary of the Plans’ restricted share activity for the six months ended June 30, 2024 and June 30, 2023 is presented below:

			Six months ended June 30, 2024												Six months ended June 30, 2023
Restricted Shares			Common Shares						Weighted Average Grant-Date Fair Value						Common Shares						Weighted Average Grant-Date Fair Value
Outstanding at January 1			746,123						$	79.60					610,155						$	73.21
Granted			389,198						99.50						260,173						88.29
Vested and issued			(228,719)						69.54						(103,161)						64.08
Forfeited or canceled			(7,893)						91.47						(7,638)						82.82
Outstanding at June 30			898,709						$	90.68					759,529						$	79.52
Vested, but deferred, at June 30			99,844						$	53.98					98,247						$	53.35

A summary of the Plans’ performance-based stock award activity, based on the target level of the awards, for the six months ended June 30, 2024 and June 30, 2023 is presented below:

			Six months ended June 30, 2024												Six months ended June 30, 2023
Performance-based Stock			Common Shares						Weighted Average Grant-Date Fair Value						Common Shares						Weighted Average Grant-Date Fair Value
Outstanding at January 1			553,026						$	79.69					545,379						$	70.30
Granted			96,952						58.78						186,313						92.45
Added by performance factor at vesting			111,304						100.44						23,161						63.64
Vested and issued			(295,644)						58.69						(178,203)						63.64
Forfeited or canceled			(3,154)						95.94						(7,909)						82.73
Outstanding at June 30			462,484						$	93.61					568,741						$	79.20
Vested, but deferred, at June 30			21,593						$	43.95					36,438						$	44.99

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ 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

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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
-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
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