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Share-Based Compensation and Capital Stock (Tables) | 6 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Pre-Tax Stock-Based Compensation Expenses | The components of the Company’s pretax share-based compensation activity are as follows for the three and six months ended June 30, 2023 and 2022:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
Stock options | $ | 1,752 |  |  | $ | 1,177 |  |  | $ | 3,140 |  |  | $ | 2,229 |
Restricted stock awards | 3,358 |  |  | 3,558 |  |  | 7,057 |  |  | 6,601 |
Performance vested restricted stock units | 7,096 |  |  | 4,810 |  |  | 11,780 |  |  | 8,164 |
Total share-based compensation expense | $ | 12,206 |  |  | $ | 9,545 |  |  | $ | 21,977 |  |  | $ | 16,994 |
Schedule of Change In Stock-Based Award Activity | A summary of share-based award activity as of and changes during the six months ended June 30, 2023 are presented below:
| Stock Options |  | Restricted Stock |  | Performance Vested Restricted Stock Units
| Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Shares |  | Weighted Average Grant Date Fair Value |  | Shares |  | Weighted Average Grant Date Fair Value
Outstanding at January 1, 2023 | 1,010,647 |  |  | $ | 94.97 |  |  |  |  | 399,099 |  |  | $ | 128.47 |  |  | 437,180 |  |  | $ | 140.05 |
Granted | 88,733 |  |  | 123.62 |  |  |  |  | 48,278 |  |  | 123.35 |  |  | 105,041 |  |  | 128.83 |
Performance-Based Leveraging (1) | — |  |  | — |  |  |  |  | — |  |  | — |  |  | 54,166 |  |  | 141.00 |
Exercised/Vested | (108,322) |  |  | 52.77 |  |  |  |  | (82,822) |  |  | 94.27 |  |  | (119,751) |  |  | 145.41 |
Expired | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
Forfeited | (6,731) |  |  | 125.15 |  |  |  |  | (7,851) |  |  | 113.75 |  |  | (5,986) |  |  | 133.50 |
Outstanding at June 30, 2023 | 984,327 |  |  | $ | 101.99 |  |  | 6.0 |  | 356,704 |  |  | $ | 136.05 |  |  | 470,650 |  |  | $ | 136.34 |
Options exercisable at June 30, 2023 | 595,927 |  |  | $ | 90.02 |  |  | 4.5 |  |  |  |  |  |  |  |
(1) Revision to PVRSUs outstanding in the six months ended June 30, 2023 is based on the Company's performance relative to the targeted performance conditions contained in PVRSUs.
Schedule of Weighted Average Assumptions of Black-Scholes Option-Pricing Model | The fair value of the options granted during the six months ended June 30, 2023 was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted average assumptions:
Risk-free interest rate | 4.10 | %
Expected volatility | 30.90 | %
Expected life of stock option | 6.0 years
Dividend yield | 0.9 | %
Requisite service period | 4 years
Contractual life | 10 years
Weighted average fair value of options granted (per option) | $ | 42.59 |

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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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