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Stock Plans (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule Of Stock-Based Compensation Expense

Stock-based compensation expense was as follows:

(In thousands)	2019				2018				2017
Restricted stock	$	6,914			$	6,221			$	4,691
Stock options	487				217				380
Performance stock	6,359				5,801				6,687
Total compensation expense before income taxes	13,760				12,239				11,758
Income tax benefit	3,357				2,974				4,440
Total compensation expense, net of income tax benefit	$	10,403			$	9,265			$	7,318

Schedule Of Fair Value Weighted Average Assumptions For Options Granted

Stock option expense is based on the fair value of stock option grants estimated on the grant dates using the Black-Scholes option pricing model and the following weighted average assumptions for options granted in 2019. There were no stock options granted in 2018 or 2017.

	2019
Fair value per option	$	59.07
Risk-free interest rate	2.3		%
Expected dividend yield	1.7		%
Expected volatility	31		%
Expected life (years)	6.4

Summary Of Option Activity

A summary of option activity follows:

	Shares			Weighted Average Exercise Price				Exercisable at Year-end
Outstanding January 1, 2017	1,576,092			$	37.63
Exercised	(620,646	)		29.75
Outstanding December 31, 2017	955,446			42.75				614,414
Exercised	(215,724	)		39.25
Forfeited	(4,721	)		44.50
Outstanding December 31, 2018	735,001			43.79				638,673
Granted (Note 13)	23,285			43.54
Exercised	(198,535	)		38.16
Forfeited	(95	)		49.19
Outstanding December 31, 2019	559,656			$	45.78			552,682

Characteristics of Outstanding and Exercisable Stock Options

For various exercise price ranges, characteristics of outstanding and exercisable stock options at December 31, 2019 were as follows:

	Stock Options Outstanding
Range of Exercise Prices	Shares			Weighted-Average
				Exercise Price				Remaining Life
$17.83 – $33.00	10,732			$	27.88			0.30
$33.01 – $45.00	258,806			42.19				3.92
$45.01 – $57.93	290,118			49.63				3.74
$17.83 – $57.93	559,656			$	45.78			3.76

	Stock Options Exercisable
Range of Exercise Prices	Shares			Weighted-Average
				Exercise Price				Remaining Life
$17.83 – $33.00	10,732			$	27.88			0.30
$33.01 – $45.00	255,573			42.21				3.87
$45.01 – $57.93	286,377			49.64				3.69
$17.83 – $57.93	552,682			$	45.78			3.71

Summary of Restricted Stock and Unit Activity

A summary of restricted stock and unit activity follows:

	Shares			Weighted Average Grant Date Fair Value
Unvested January 1, 2017	234,592			$	49.76
Granted	72,878			75.27
Vested	(76,834	)		52.74
Forfeited	(3,475	)		50.46
Unvested at December 31, 2017	227,161			57.50
Granted	75,430			87.36
Vested	(92,401	)		58.10
Forfeited	(4,741	)		59.61
Unvested at December 31, 2018	205,449			68.97
Granted	70,160			104.53
Vested	(97,253	)		56.47
Forfeited	(5,655	)		85.48
Unvested at December 31, 2019	172,701			$	90.38

Summary of Performance Stock Unit Activity

A summary of performance stock unit activity follows:

	Shares			Weighted Average Grant Date Fair Value
Unvested at January 1, 2017	186,621			$	46.18
Granted	98,886			72.73
Vested	(72,504	)		57.19
Performance adjustments	29,183			57.27
Unvested at December 31, 2017	242,186			55.06
Granted	62,775			84.79
Vested	(41,660	)		40.23
Performance adjustments	(35,756	)		45.21
Forfeited	(8,659	)		44.53
Unvested at December 31, 2018	218,886			68.43
Granted	83,819			101.03
Vested	(139,478	)		44.75
Performance adjustments	76,960			44.24
Forfeited	(2,152	)		99.82
Unvested at December 31, 2019	238,035			$	85.39

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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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.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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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.

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