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Stock compensation plans (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Summary of Share-based Compensation Activity

The following table summarizes the share-based compensation activity:

			2022						2021						2020
Share-based compensation expense			$	27,224					$	22,937					$	20,739
Total income tax benefit recognized for share-based compensation arrangements			6,824						10,912						21,958
Net excess tax benefit			1,292						6,355						17,549

Weighted-Average Assumptions used to Estimate Fair Value of Options Granted

The fair value of options granted in 2022, 2021 and 2020 was estimated at the date of grant using a Black-Scholes option pricing model. The following weighted-average assumptions were used:

			2022						2021						2020
Risk-free interest rate			1.56		%				0.67		%				1.16		%
Expected life of option			5.03 years						5.01 years						5.00 years
Expected dividend yield			0.41		%				0.34		%				0.39		%
Expected volatility			30.09		%				30.03		%				23.98		%

Summary of Stock Option Activity

The following table summarizes the option activity during 2022:

			Shares Subject to Options						Weighted Average Exercise Price						Weighted Average Remaining Contractual Life In Years						Aggregate Intrinsic Value
Outstanding, beginning of the year			1,107,999						$	214.13
Granted			156,918						330.03
Exercised			(27,518)						95.07
Forfeited or expired			(8,551)						359.54
Outstanding, end of the year			1,228,848						230.58						4.77						$	66,774
Exercisable, end of the year			990,842						$	201.19					3.84						$	66,746

Weighted-Average Assumptions used to Estimate Fair Value of Non-Vested Shares Granted

The following weighted-average assumptions were used:

			2022						2021						2020
Risk-free interest rate			1.57		%				0.28		%				1.07		%
Expected dividend yield			0.42		%				0.34		%				0.38		%

Summary of Non-Vested Restricted Stock Unit Activity

The following table summarizes the non-vested restricted stock unit activity during 2022:

			Number of Non-Vested Shares						Weighted Average Grant-Date Fair Value						Weighted Average Remaining Contractual Life						Aggregate Intrinsic Value
Outstanding, beginning of the year			135,378						$	343.89
Granted			85,780						323.35
Vested			(51,831)						290.75
Forfeited			(21,359)						352.06
Outstanding, end of the year			147,968						$	349.42					1.5						$	36,970

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- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of non-vested shares, including but not limited to; expected dividends and risk-free rates(s)

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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-Name Accounting Standards Codification
-Topic 718
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-Section 50
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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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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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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.

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