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Share-Based Compensation and Capital Stock (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Change in Stock-Based Award Activity | For the year ended December 31, 2024, the following table presents a summary of the share-based award activity:
| 2024
| Stock Options |  | Restricted Stock |  | Performance Vested Restricted Stock Units
| Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life |  | Shares |  | Weighted Average Grant Date Fair Value |  | Shares |  | Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2024 | 943,641 |  |  | $ | 102.90 |  |  |  |  | 361,668 |  |  | $ | 136.05 |  |  | 458,495 |  |  | $ | 136.14 |
Granted | 78,988 |  |  | 111.94 |  |  |  |  | 69,249 |  |  | 115.57 |  |  | 147,943 |  |  | 115.04 |
Performance-based leveraging* | — |  |  | — |  |  |  |  | — |  |  | — |  |  | 31,468 |  |  | 116.43 |
Exercised/vested | (249,059) |  |  | 80.03 |  |  |  |  | (59,266) |  |  | 111.50 |  |  | (146,675) |  |  | 107.54 |
Expired | — |  |  | — |  |  |  |  | — |  |  | — |  |  | (8,028) |  |  | 108.79 |
Forfeited | (1,929) |  |  | 126.23 |  |  |  |  | (16,246) |  |  | 124.09 |  |  | (15,682) |  |  | 131.59 |
Outstanding as of December 31, 2024 | 771,641 |  |  | $ | 111.15 |  |  | 6.2 years |  | 355,405 |  |  | $ | 136.67 |  |  | 467,521 |  |  | $ | 137.74 |
Options exercisable as of December 31, 2024 | 481,522 |  |  | $ | 104.67 |  |  | 5.3 years |  |  |  |  |  |  |  |
* The outstanding PVRSUs have been adjusted by 31,468 net units during the year ended December 31, 2024, due to an increase in the outstanding PVRSUs as a result of the Company exceeding the targeted performance conditions.
Schedule of Pre-Tax Stock-Based Compensation Expenses and Associated Income Tax Benefits | The components of the Company’s share-based compensation expense were as follows:
| For the Year Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Stock options | $ | 5,265 |  |  | $ | 5,816 |  |  | $ | 4,674 |
Restricted stock | 12,728 |  |  | 13,774 |  |  | 14,349 |
Performance vested restricted stock units | 20,447 |  |  | 20,924 |  |  | 21,436 |
Total share-based compensation expense | $ | 38,440 |  |  | $ | 40,514 |  |  | $ | 40,459 |
Schedule of Unrecognized Compensation Cost, Nonvested Awards | The following table as of December 31, 2024 is a summary of the total unrecognized compensation expense related to the share-based awards that have not yet vested and the related weighted average remaining amortization periods over which the compensation expense will be recognized:
(in thousands) | Unrecognized Compensation Expense on Unvested Awards |  | Weighted Average Remaining Amortization Period
Stock options | $ | 5,708 |  |  | 1.8 years
Restricted stock | 23,601 |  |  | 2.2 years
Performance vested restricted stock units | 24,661 |  |  | 1.9 years
Total | $ | 53,970 |  |  |
Schedule of Activity Related to Stock Options | The following table is a summary of the activity related to the stock option grants:
| For the Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Number of options granted | 78,988 |  |  | 88,733 |  |  | 172,441 |
Fair value of options granted (in thousands) | $ | 3,069 |  |  | $ | 3,779 |  |  | $ | 7,356 |
Weighted average exercise price per share | $ | 111.94 |  |  | $ | 102.90 |  |  | $ | 94.97 |
Total intrinsic value of stock options exercised (in thousands) | $ | 12,185 |  |  | $ | 9,170 |  |  | $ | 5,390 |
Total fair value of stock options vested (in thousands) | $ | 5,032 |  |  | $ | 4,857 |  |  | $ | 3,591 |
Schedule of Weighted Average Assumptions of Black-Scholes Option-Pricing Model | The fair value of the options granted was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted average assumptions:
| 2024 |  | 2023 |  | 2022
Risk-free interest rate | 4.27 | % |  | 4.10 | % |  | 2.01 | %
Expected volatility | 31.34 | % |  | 30.90 | % |  | 29.46 | %
Expected life of stock option | 6.0 years |  | 6.0 years |  | 5.9 years
Dividend yield | 1.03 | % |  | 0.90 | % |  | 0.66 | %
Requisite service period | 4 years |  | 4 years |  | 4 years
Contractual life | 10 years |  | 10 years |  | 10 years
Weighted average fair value of the stock options granted (per stock option) | $ | 38.85 |  |  | $ | 42.59 |  |  | $ | 42.66 |
Schedule of Activity Related to Restricted Stock Grants | The following table is a summary of the activity related to the restricted stock grants:
| For the Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Restricted shares granted | 69,249 |  |  | 65,991 |  |  | 273,777 |
Weighted average grant date fair value per share | $ | 115.57 |  |  | $ | 123.65 |  |  | $ | 143.76 |
Aggregate grant date fair value (in thousands) | $ | 8,003 |  |  | $ | 8,160 |  |  | $ | 39,357 |
Restricted shares forfeited | 16,246 |  |  | 13,202 |  |  | 14,443 |
Vesting service period for the restricted shares granted | 9 - 48 months |  | 9 - 48 months |  | 9 - 60 months
Fair value of the restricted shares vested (in thousands) | $ | 6,804 |  |  | $ | 11,134 |  |  | $ | 13,784 |
Schedule of Activity Related to PVRSU Grants | The following table is a summary of the activity related to the PVRSU grants:
| For the Years Ended December 31,
| 2024 |  | 2023 |  | 2022
PVRSUs granted at target | 147,943 |  |  | 110,636 |  |  | 111,585 |
Weighted average grant date fair value per share | $ | 115.04 |  |  | $ | 128.71 |  |  | $ | 181.91 |
Aggregate grant date fair value (in thousands) | $ | 17,019 |  |  | $ | 14,240 |  |  | $ | 20,298 |
PVRSUs forfeited & expired | 23,710 |  |  | 16,504 |  |  | 83,563 |
Requisite service period | 9 - 48 months |  | 9 - 48 months |  | 9 - 60 months
Fair value of PVRSUs vested (in thousands) | $ | 15,773 |  |  | $ | 17,413 |  |  | $ | — |
During the year ended December 31, 2024, the Company granted PVRSUs with performance conditions, PVRSUs with market conditions, and PVRSUs with performance and market conditions, with requisite service periods between 9 months and 48 months and with award vesting ranges generally between 0% and 230% of the initial units granted.

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