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Share-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Stock Options, 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:
20242023
Dividend yield6.4%6.9%
Expected volatility26.1%39.0%
Expected lives2.9 years2.9 years
Risk-free interest rate4.49%4.56%
Schedule of Stock Option Activity
The following table summarizes our outstanding stock options:
Weighted Average
NumberWeighted AverageRemaining
of SharesExercise PriceContractual Life (Years)
Options outstanding, January 1, 20232,216,175 $70.97
Options granted 385,500 $54.73
Options exercised(5,166)$53.41
Options forfeited(61,168)$66.44
Options expired(88,170)$64.33
Options outstanding, September 30, 2023
2,447,171 $68.80
Exercisable at September 30, 2023
2,078,827 $71.40
Options outstanding, January 1, 20242,447,171 $68.80
Options granted431,000 $57.76
Options exercised(1,065,119)$58.24
Options expired(301,837)$79.96
Options outstanding, September 30, 2024
1,511,215 $70.872.02
Exercisable at September 30, 2024
1,170,521 $74.941.42
Schedule of Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award The following is a summary of share-based compensation expense, net of any forfeitures, included in “General and administrative expenses” in the Condensed Consolidated Statements of Income ($ in thousands):
Three Months EndedNine Months Ended
September 30,September 30,
2024202320242023
Share-based compensation components:
  Restricted stock expense$166 $119 $510 $191 
  Stock option expense504 747 3,002 3,549 
Total share-based compensation expense$670 $866 $3,512 $3,740