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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Summary of Activity

The following table summarizes the weighted-average assumptions used to determine the awards grant date fair value:

						Three Months Ended March 31,
Restricted Shares and Performance Based Shares						2021						2020
Expected quarterly dividends per share						$	0.3275					$	0.3075
Risk-free interest rate						0.32		%				0.72		%
Market-Based Shares
Dividend yield						2.76		%				2.51		%
Expected volatility						33.69		%				19.41		%
Risk-free interest rate						0.29		%				0.72		%

The following table summarizes activity in restricted stock awards, including performance-based and market-based shares for the three months ended March 31, 2021:

			Restricted Stock
			Shares						Weighted- Average Grant Date Fair Value
Outstanding at December 31, 2020			168,061						$	40.77
Granted			194,075						43.68
Exercised			(189,098)						42.26
Forfeited			(851)						43.77
Outstanding at March 31, 2021			172,187						$	42.41

The following table provides additional information concerning restricted stock activity, including performance-based and market-based shares, and stock options:

						Three Months Ended March 31,
Restricted Stock						2021						2020
Weighted-average grant date fair value						$	43.68					$	36.88
Total fair value of restricted shares that vested (in thousands)						$	8,967					$	11,269
Stock Options
Total intrinsic value of options exercised (in thousands)						$	—					$	84

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- References

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- Definition

Tabular disclosure of share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

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