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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2020
Share-based Payment Arrangement [Abstract] |
Summary of Activity in Corporation's Active Stock Plans | 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, 2020, there were 1,109,864 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, 2020 |  | 55,370 |  |  | $ | 74.76 |  |  | 440,647 |  |  | $ | 90.22 |  |  | 177,288 |  |  | $ | 83.48 |  |  | 1,980,866 |  |  | $ | 64.60 |
Authorized |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Granted |  | 10,428 |  |  | 73.84 |  |  | 458 |  |  | 65.43 |  |  | — |  |  | — |  |  | — |  |  | — |
Exercised/vested |  | (12,938) |  |  | 71.09 |  |  | (1,640) |  |  | 76.07 |  |  | (41,755) |  |  | 69.70 |  |  | (140,615) |  |  | 53.65 |
Forfeited/expired |  | — |  |  | — |  |  | (2,813) |  |  | 90.20 |  |  | (6,894) |  |  | 81.33 |  |  | (5,427) |  |  | 75.74 |
Balance, September 30, 2020 |  | 52,860 |  |  | $ | 75.47 |  |  | 436,652 |  |  | $ | 90.24 |  |  | 128,639 |  |  | $ | 88.07 |  |  | 1,834,824 |  |  | $ | 65.41 |
Shares Issued in Connection with Stock Compensation Awards | 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,
| 2020 |  | 2019 |  | 2020 |  | 2019
New shares issued from available authorized shares | — |  |  | — |  |  | — |  |  | — |
Issued from available treasury stock | 53,425 |  |  | 71,284 |  |  | 196,948 |  |  | 225,184 |
Total | 53,425 |  |  | 71,284 |  |  | 196,948 |  |  | 225,184 |
Proceeds from stock option exercises | $ | 2,698 |  |  | $ | 5,665 |  |  | $ | 7,544 |  |  | $ | 13,506 |
Share-based Payment Arrangement, Cost by Plan | 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,
| 2020 |  | 2019 |  | 2020 |  | 2019
Stock options | $ | — |  |  | $ | 330 |  |  | $ | — |  |  | $ | 1,091 |
Non-vested stock awards/stock units | 1,999 |  |  | 1,536 |  |  | 6,325 |  |  | 5,727 |
Director deferred stock units | — |  |  | — |  |  | 770 |  |  | 780 |
Performance stock units | 444 |  |  | 809 |  |  | 1,132 |  |  | 3,095 |
Total | $ | 2,443 |  |  | $ | 2,675 |  |  | $ | 8,227 |  |  | $ | 10,693 |
Income tax benefit | $ | 450 |  |  | $ | 452 |  |  | $ | 1,539 |  |  | $ | 1,768 |
Unrecognized Stock-Based Compensation Expense | Unrecognized stock-based compensation expense at September 30, 2020 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.
Non-vested stock awards/stock units | $ | 12,337 |
Performance stock units | 4,651 |
Total | $ | 16,988 |

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