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Incentive Plans (Tables) | 6 Months Ended
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Jun. 30, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
Assumptions used to value awards: |  |
Dividend yield |  | — | %
Expected volatility |  | 28.1 | %
Risk-free interest rate |  | 1.5 | %
Expected life (years) |  | 4.7
Stock price at valuation date |  | $ | 106.72 |
Share-based Payment Arrangement, Option, Activity | Changes in options outstanding for Company employees during the period from December 31, 2019 to June 30, 2020 are presented in the following table:
Options | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (Millions of Dollars)
Outstanding at 12/31/2019 | 392,300 |  |  | $ | 68.52 |  |  |  |  |
Granted | 79,200 |  |  | 105.57 |  |  |  |  |
Outstanding at 6/30/2020 | 471,500 |  |  | $ | 74.75 |  |  | 4.3 |  | $ | 17.8 |
Exercisable at 6/30/2020 | 259,500 |  |  | $ | 65.36 |  |  | 3.0 |  | $ | 12.3 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity | Changes in restricted stock units outstanding for Company employees during the period from December 31, 2019 to June 30, 2020 are presented in the following table:
Employee RSUs | Number of units |  | Weighted Average Grant Date Fair Value |  | Total Fair Value (Millions of Dollars)
Outstanding at 12/31/2019 | 198,915 |  |  | $ | 70.58 |  |  |
Granted | 55,395 |  |  | $ | 90.64 |  |  |
Vested and issued | (55,875) |  |  | $ | 65.86 |  |  | $ | 5.9 |
Forfeited | (6,530) |  |  | $ | 79.01 |  |  |
Outstanding at 6/30/2020 | 191,905 |  |  | $ | 77.46 |  |  | $ | 21.6 |
Changes in performance-based restricted stock units outstanding for Company employees during the period from December 31, 2019 to June 30, 2020 are presented in the following table:
Employee PSU's | Number of Units |  | Weighted Average Grant Date Fair Value |  | Total Fair Value (Millions of Dollars)
Outstanding at 12/31/2019 | 131,200 |  |  | $ | 82.98 |  |  |
Granted | 64,050 |  |  | $ | 123.65 |  |  |
Vested and issued | (65,745) |  |  | $ | 85.04 |  |  | $ | 7.0 |
Forfeited | (405) |  |  | $ | 65.75 |  |  |
Outstanding at 6/30/2020 | 129,100 |  |  | $ | 97.19 |  |  | $ | 14.5 |
Changes in restricted stock units outstanding for Company non-employee directors during the period from December 31, 2019 to June 30, 2020 are presented in the following table:
Director RSU's | Number of Units |  | Weighted Average Grant Date Fair Value |  | Total Fair Value (Millions of Dollars)
Outstanding at 12/31/2019 | 33,607 |  |  | $ | 70.68 |  |  |
Granted | 9,744 |  |  | $ | 105.33 |  |  |
Vested and issued | (12,404) |  |  | $ | 66.01 |  |  | $ | 1.3 |
Outstanding at 6/30/2020 | 30,947 |  |  | $ | 83.46 |  |  | $ | 3.5 |

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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