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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-based Payment Arrangement [Abstract] |
Share-based Payment Arrangement, Expensed and Capitalized, Amount | The following is a summary of share-based compensation expense, net of any forfeitures, included in “General and administrative expenses” in the Consolidated Statements of Income ($ in thousands):
| December 31, 2022 |  | December 31, 2021 |  | December 31, 2020
Non-cash share-based compensation expense | $ | 8,613 |  |  | $ | 8,415 |  |  | $ | 3,061 |
Schedule of Stock Option Valuation Assumptions | The fair value of each grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:
| December 31, 2022 |  | December 31, 2021 |  | December 31, 2020
Dividend yield | 7.0% |  | 6.7% |  | 5.1%
Expected volatility | 49.3% |  | 48.1% |  | 17.1%
Expected lives | 2.9 years |  | 2.9 years |  | 2.9 years
Risk-free interest rate | 1.75% |  | 0.33% |  | 1.30%
Schedule of Stock Option Activity | The following tables summarize our outstanding stock options:
|  |  |  |  | Weighted Average |
| Number |  | Weighted Average |  | Remaining |
| of Shares |  | Exercise Price |  | Contractual Life (Years) |
Outstanding December 31, 2019 | 1,004,014 |  |  | $74.35 |  |  |
Options granted under 2012 Plan | 319,669 |  |  | $90.79 |  |  |
Options granted under 2019 Plan | 272,331 |  |  | $89.76 |  |  |
Options exercised under 2012 Plan | (512,509) |  |  | $72.98 |  |  |
Options forfeited under 2012 Plan | (16,669) |  |  | $81.37 |  |  |
Options forfeited under 2019 Plan | (32,998) |  |  | $90.79 |  |  |
Outstanding December 31, 2020 | 1,033,838 |  |  | $83.54 |  |  |
Options granted under 2012 Plan | 12,500 |  |  | $69.20 |  |  |
Options granted under 2019 Plan | 639,500 |  |  | $69.20 |  |  |
Options exercised under 2012 Plan | (20,000) |  |  | $60.52 |  |  |
Options forfeited under 2019 Plan | (13,333) |  |  | $90.79 |  |  |
Outstanding December 31, 2021 | 1,652,505 |  |  | $78.10 |  |  |
Options granted under 2019 Plan | 718,000 |  |  | $53.62 |  |  |
Options exercised under 2019 Plan | (56,832) |  |  | $53.41 |  |  |
Options forfeited | (23,000) |  |  | $62.33 |  |  |
Options expired | (74,498) |  |  | $77.93 |  |  |
Options outstanding, December 31, 2022 | 2,216,175 |  |  | $70.97 |  | 2.81 |
Exercisable at December 31, 2022 | 1,701,155 |  |  | $74.78 |  | 2.50 |
|  |  |  |  |  | Remaining
Grant |  | Number |  | Exercise |  | Contractual
Date |  | of Shares |  | Price |  | Life in Years
2/20/2018 |  | 88,170 |  |  | $ | 64.33 |  |  | 0.14
2/21/2019 |  | 306,837 |  |  | $ | 79.96 |  |  | 1.14
2/21/2020 |  | 523,500 |  |  | $ | 90.79 |  |  | 2.15
5/1/2020 |  | 7,500 |  |  | $ | 53.76 |  |  | 2.33
2/25/2021 |  | 639,000 |  |  | $ | 69.20 |  |  | 3.16
2/25/2022 |  | 626,168 |  |  | $ | 53.41 |  |  | 4.16
6/1/2022 |  | 25,000 |  |  | $ | 59.43 |  |  | 4.42
Options outstanding, December 31, 2022 |  | 2,216,175 |  |  |  |  |
Schedule of Nonvested Share Activity | The following table summarizes our outstanding non-vested stock options:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Non-vested December 31, 2021 | 482,514 |  |  | $7.51
Options granted under 2019 Plan | 718,000 |  |  | $11.77
Options vested under 2012 Plan | (76,670) |  |  | $6.16
Options vested under 2019 Plan | (594,490) |  |  | $11.83
Non-vested options forfeited under 2019 Plan | (14,334) |  |  | $12.47
Non-vested December 31, 2022 | 515,020 |  |  | $12.51

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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