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Stock-Based Compensation | 9 Months Ended
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Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-Based Compensation | Stock-Based Compensation A combined summary of activity in our active stock plans is presented in the table. Performance stock units outstanding are presented assuming attainment of the maximum payout rate as set forth by the performance criteria. As of September 30, 2019, there were 1,277,578 shares remaining available for grant for future stock-based compensation awards.
|  | Director Deferred Stock Units Outstanding |  | Non-Vested Stock Awards/Stock Units Outstanding |  | Performance Stock Units Outstanding |  | Stock Options Outstanding
|  | Number of Units |  | Weighted- Average Fair Value at Grant |  | Number of Shares/Units |  | Weighted- Average Fair Value at Grant |  | Number of Units |  | Weighted- Average Fair Value at Grant |  | Number of Shares |  | Weighted- Average Exercise Price
Balance, January 1, 2019 |  | 48,910 |  |  | $ | 71.14 |  |  | 383,797 |  |  | $ | 85.59 |  |  | 125,809 |  |  | $ | 82.55 |  |  | 2,352,008 |  |  | $ | 63.55 |
Authorized |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Granted |  | 7,592 |  |  | 102.70 |  |  | 1,957 |  |  | 91.96 |  |  | — |  |  | — |  |  | — |  |  | — |
Exercised/vested |  | (1,132 | ) |  | 106.03 |  |  | (17,800 | ) |  | 65.11 |  |  | — |  |  | — |  |  | (236,252 | ) |  | 57.17 |
Forfeited/expired |  | — |  |  | — |  |  | (11,850 | ) |  | 89.29 |  |  | — |  |  | — |  |  | (11,000 | ) |  | 65.11 |
Balance, September 30, 2019 |  | 55,370 |  |  | $ | 74.76 |  |  | 356,104 |  |  | $ | 86.53 |  |  | 125,809 |  |  | $ | 82.55 |  |  | 2,104,756 |  |  | $ | 64.26 |
Shares issued in connection with stock compensation awards are issued from available treasury shares. If no treasury shares are available, new shares are issued from available authorized shares. Shares issued in connection with stock compensation awards along with other related information were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
New shares issued from available authorized shares | — |  |  | — |  |  | — |  |  | — |
Issued from available treasury stock | 71,284 |  |  | 19,232 |  |  | 225,184 |  |  | 447,831 |
Total | 71,284 |  |  | 19,232 |  |  | 225,184 |  |  | 447,831 |
Proceeds from stock option exercises | $ | 5,665 |  |  | $ | 1,119 |  |  | $ | 13,506 |  |  | $ | 26,567 |
Stock-based compensation expense is recognized ratably over the requisite service period for all awards. For most stock option awards, the service period generally matches the vesting period. For stock options granted to certain executive officers and for non-vested stock units granted to all participants, the service period does not extend past the date the participant reaches 65 years of age. Deferred stock units granted to non-employee directors generally have immediate vesting and the related expense is fully recognized on the date of grant. For performance stock units, the service period generally matches the three-year performance period specified by the award, however, the service period does not extend past the date the participant reaches 65 years of age. Expense recognized each period is dependent upon our estimate of the number of shares that will ultimately be issued. Stock-based compensation expense and the related income tax benefit is presented in the following table.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Stock options | $ | 330 |  |  | $ | 960 |  |  | $ | 1,091 |  |  | $ | 3,064 |
Non-vested stock awards/stock units | 1,536 |  |  | 1,357 |  |  | 5,727 |  |  | 4,196 |
Director deferred stock units | — |  |  | — |  |  | 780 |  |  | 720 |
Performance stock units | 809 |  |  | 479 |  |  | 3,095 |  |  | 1,576 |
Total | $ | 2,675 |  |  | $ | 2,796 |  |  | $ | 10,693 |  |  | $ | 9,556 |
Income tax benefit | $ | 452 |  |  | $ | 587 |  |  | $ | 1,768 |  |  | $ | 2,007 |
Unrecognized stock-based compensation expense at September 30, 2019 is presented in the table below. Unrecognized stock-based compensation expense related to performance stock units is presented assuming attainment of the maximum payout rate as set forth by the performance criteria.
Stock options | $ | 96 |
Non-vested stock awards/stock units | 11,196 |
Performance stock units | 3,432 |
Total | $ | 14,724 |

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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