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Stock Plans (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expense was as follows:
(In thousands) | 2023 |  | 2022 |  | 2021
Restricted stock units | $ | 8,062 |  |  | $ | 6,488 |  |  | $ | 5,797 |
Stock options | — |  |  | 49 |  |  | 81 |
Performance stock units | 21,961 |  |  | 13,113 |  |  | 13,030 |
Total stock-compensation expense before income taxes | 30,023 |  |  | 19,650 |  |  | 18,908 |
Income tax benefit | 7,356 |  |  | 4,814 |  |  | 4,633 |
Total stock-compensation expense, net of income tax benefit | $ | 22,667 |  |  | $ | 14,836 |  |  | $ | 14,275 |
Summary of Option Activity | A summary of option activity follows:
| Shares |  | Weighted Average Exercise Price |  | Exercisable at Year-end
Outstanding January 1, 2021 | 283,998 |  |  | $ | 46.23 |  |  |
Exercised | (122,087) |  |  | 47.25 |  |  |
Forfeited | (210) |  |  | 43.75 |  |  |
Outstanding December 31, 2021 | 161,701 |  |  | 45.47 |  |  | 161,347 |
Exercised | (103,545) |  |  | 44.91 |  |  |
Outstanding December 31, 2022 | 58,156 |  |  | 46.48 |  |  | 58,156 |
Exercised | (31,394) |  |  | 46.90 |  |  |
Forfeited | (226) |  |  | 49.44 |  |  |
Outstanding December 31, 2023 | 26,536 |  |  | $ | 45.95 |  |  | 26,536 |
Characteristics of Outstanding and Exercisable Stock Options | For various exercise price ranges, characteristics of outstanding and exercisable stock options at December 31, 2023 were as follows:
| Stock Options Outstanding and Exercisable
Range of Exercise Prices | Shares |  | Weighted-Average
Exercise Price |  | Remaining Life
$33.01 – $45.00 | 17,820 |  |  | $ | 44.50 |  |  | 1.66
$45.01 – $57.93 | 8,716 |  |  | 48.92 |  |  | 1.73
$33.01 – $57.93 | 26,536 |  |  | $ | 45.95 |  |  | 1.68
Summary of Restricted Stock Unit Activity | A summary of restricted stock unit activity follows:
| Shares |  | Weighted Average Grant Date Fair Value
Unvested January 1, 2021 | 146,191 |  |  | $ | 105.83 |
Granted | 43,146 |  |  | 167.13 |
Vested | (65,225) |  |  | 95.43 |
Forfeited | (5,769) |  |  | 132.54 |
Unvested at December 31, 2021 | 118,343 |  |  | 132.62 |
Granted | 87,697 |  |  | 130.28 |
Vested | (51,369) |  |  | 113.96 |
Forfeited | (8,785) |  |  | 139.66 |
Unvested at December 31, 2022 | 145,886 |  |  | 137.36 |
Granted | 81,150 |  |  | 142.92 |
Vested | (43,107) |  |  | 126.27 |
Forfeited | (10,078) |  |  | 140.28 |
Unvested at December 31, 2023 | 173,851 |  |  | $ | 142.73 |
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, 2021 | 200,212 |  |  | $ | 104.69 |
Granted | 52,309 |  |  | 175.59 |
Vested | (64,543) |  |  | 85.41 |
Performance adjustments | 5,357 |  |  | 88.45 |
Unvested at December 31, 2021 | 193,335 |  |  | 129.86 |
Granted | 81,504 |  |  | 142.38 |
Vested | (55,447) |  |  | 101.38 |
Performance adjustments | (22,147) |  |  | 99.84 |
Forfeited | (18,485) |  |  | 147.66 |
Unvested at December 31, 2022 | 178,760 |  |  | 146.28 |
Granted | 77,654 |  |  | 132.39 |
Vested | (53,407) |  |  | 127.36 |
Performance adjustments | (3,009) |  |  | 127.40 |
Forfeited | (10,777) |  |  | 147.06 |
Unvested at December 31, 2023 | 189,221 |  |  | $ | 146.17 |

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