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Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Combined Activity in Corporations Defined Benefit Pension Plans

We use a December 31 measurement date for our defined benefit plans. Combined activity in our defined benefit pension plans was as follows:

	2019				2018				2017
Change in plan assets:
Fair value of plan assets at beginning of year	$	152,820			$	168,450			$	157,214
Actual return on plan assets	29,945				(7,739		)		23,518
Employer contributions	1,163				1,077				1,049
Benefits paid	(9,755		)		(8,968		)		(13,331		)
Fair value of plan assets at end of year	174,173				152,820				168,450
Change in benefit obligation:
Benefit obligation at beginning of year	167,107				182,607				176,751
Interest cost	6,472				5,898				6,189
Actuarial (gain) loss	22,817				(12,430		)		12,998
Benefits paid	(9,755		)		(8,968		)		(13,331		)
Benefit obligation at end of year	186,641				167,107				182,607
Funded status of the plan at end of year and accrued benefit (liability) recognized	$	(12,468	)		$	(14,287	)		$	(14,157	)
Accumulated benefit obligation at end of year	$	186,641			$	167,107			$	182,607

Disaggregated Information Related to Corporations Defined Benefit Pension Plans

Certain disaggregated information related to our defined benefit pension plans as of year-end was as follows:

	Retirement Plan								Restoration Plan
	2019				2018				2019				2018
Projected benefit obligation	$	170,541			$	152,035			$	16,100			$	15,072
Accumulated benefit obligation	170,541				152,035				16,100				15,072
Fair value of plan assets	174,173				152,820				—				—
Funded status of the plan at end of year and accrued benefit (liability) recognized	3,632				785				(16,100		)		(15,072		)

Net Periodic Benefit Cost (Benefit)

The components of the combined net periodic cost (benefit) for our defined benefit pension plans are presented in the table below.

	2019				2018				2017
Expected return on plan assets, net of expenses	$	(10,772	)		$	(11,916	)		$	(11,117	)
Interest cost on projected benefit obligation	6,472				5,898				6,189
Net amortization and deferral	5,623				5,002				5,429
Net periodic expense (benefit)	$	1,323			$	(1,016	)		$	501

Defined Benefit Pension Plans Recognized as Component of Other Comprehensive Income

Amounts related to our defined benefit pension plans recognized as a component of other comprehensive income were as follows:

	2019				2018				2017
Net actuarial gain (loss)	$	1,979			$	(2,223	)		$	4,832
Deferred tax (expense) benefit	(416		)		466				(1,774		)
Other comprehensive income (loss), net of tax	$	1,563			$	(1,757	)		$	3,058

Defined Benefit Pension Plans Not Recognized as Component of Combined Net Period Benefit Cost

We expect to recognize approximately $5.3 million of the net actuarial loss reported in the following table as of December 31, 2019 as a component of net periodic benefit cost during 2020.

	2019				2018
Net actuarial loss	$	(57,964	)		$	(60,123	)
Deferred tax benefit	12,210				12,626
Amounts included in accumulated other comprehensive income/loss, net of tax	(45,934		)		(47,497		)

Weighted-Average Assumptions Used to Determine Benefit Obligations

The weighted-average assumptions used to determine the benefit obligations as of the end of the years indicated and the net periodic benefit cost for the years indicated are presented in the table below. Because the plans were frozen, increases in compensation are not considered after 2001.

	2019			2018			2017
Benefit obligations:
Discount rate	3.20	%		4.36	%		3.68	%
Net periodic benefit cost:
Discount rate	4.36	%		3.68	%		4.24	%
Expected return on plan assets	7.25			7.25			7.25

Fair Value of Plan Assets

The major categories of assets in our Retirement Plan as of year-end are presented in the following table. Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 “Fair Value Measurements and Disclosures,” utilized to measure fair value (see Note 17 - Fair Value Measurements). Our Restoration Plan is unfunded.

	2019				2018
Level 1:
Mutual funds	$	172,773			$	152,477
Cash and cash equivalents	1,400				343
Total fair value of plan assets	$	174,173			$	152,820

Expected Future Benefit Payments Related to Defined Benefit Plans

As of December 31, 2019, expected future benefit payments related to our defined benefit plans were as follows:

2020	$	10,662
2021	10,968
2022	11,177
2023	11,423
2024	11,578
2025 through 2029	57,122
	$	112,930

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

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. The target award level for performance stock units granted in 2019, 2018 and 2017 was 34,317, 30,466 and 24,162, respectively. As of December 31, 2019, there were 1,105,616 shares remaining available for grant for future 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
January 1, 2017		53,659			$	61.48			256,850			$	73.43			43,860			$	69.70			4,089,028			$	62.67
Authorized		—			—				—			—				—			—				—			—
Granted		5,447			95.37				99,833			98.90				36,246			92.27				—			—
Exercised/vested		(6,098	)		62.29				(39,740	)		71.59				—			—				(1,118,122	)		60.59
Forfeited/expired		—			—				(4,287	)		79.52				—			—				(53,764	)		69.78
December 31, 2017		53,008			64.87				312,656			81.71				80,106			79.91				2,917,142			63.34
Authorized		—			—				—			—				—			—				—			—
Granted		6,576			109.58				109,847			94.81				45,703			87.18				—			—
Exercised/vested		(10,674	)		63.68				(32,050	)		78.92				—			—				(513,134	)		61.68
Forfeited/expired		—			—				(6,656	)		87.60				—			—				(52,000	)		70.42
December 31, 2018		48,910			71.14				383,797			85.59				125,809			82.55				2,352,008			63.55
Authorized		—			—				—			—				—			—				—			—
Granted		7,592			102.70				127,091			93.46				51,479			85.74				—			—
Exercised/vested		(1,132	)		106.03				(53,990	)		65.11				—			—				(359,892	)		57.71
Forfeited/expired		—			—				(16,251	)		89.71				—			—				(11,250	)		65.11
December 31, 2019		55,370			$	74.76			440,647			$	90.22			177,288			$	83.48			1,980,866			$	64.60

Options Outstanding and Exercisable

Other information regarding options outstanding and exercisable as of December 31, 2019 is as follows:

										Options Outstanding										Options Exercisable
Range of Exercise Prices										Number of Shares				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Life in Years		Number of Shares				Weighted- Average Exercise Price
$	45.01			to		$	50.00			238,055				$	48.00			1.82		238,055				$	48.00
50.01				to		55.00				464,009				53.75				2.04		464,009				53.75
65.01				to		70.00				526,096				65.11				5.67		526,096				65.11
70.01				to		75.00				275,654				71.39				3.80		275,654				71.39
75.01				to		80.00				477,052				78.95				4.71		477,052				78.95
			Total							1,980,866				64.60				3.87		1,980,866				64.60
			Total intrinsic value							$	65,725									$	65,725

Shares Issued in Connection With Stock Compensation Awards

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:

	2019				2018				2017
New shares issued from available authorized shares	—				—				603,842
Issued from available treasury stock	399,224				548,238				547,078
Total	399,224				548,238				1,150,920
Proceeds from stock option exercises	$	20,770			$	31,647			$	67,746
Intrinsic value of stock options exercised	13,713				23,292				38,275
Fair value of stock awards/units vested	5,192				4,212				4,578

Stock-Based Compensation Expense

Stock-based compensation expense and the related income tax benefit is presented in the following table. The service period for performance stock units granted each year begins on January 1 of the following year.

	2019				2018				2017
Stock options	$	1,185			$	3,652			$	6,230
Non-vested stock awards/stock units	9,339				6,983				4,992
Deferred stock-units	780				721				519
Performance stock units	4,642				2,587				1,272
Total	$	15,946			$	13,943			$	13,013
Income tax benefit	$	2,359			$	2,831			$	4,555

Unrecognized Stock-Based Compensation Expense

Unrecognized stock-based compensation expense and the weighted-average period over which the expense is expected to be recognized at December 31, 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.

	Unrecognized Expense				Weighted-Average Number of Years for Expense Recognition
Non-vested stock awards/stock units	$	18,882			2.81
Performance stock units	6,299				2.11
Total	$	25,181

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