XML 45 R35.htm IDEA: XBRL DOCUMENT
v3.25.1

Share-Based Compensation (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
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:
| 2025 |  | 2024
Dividend yield | 5.2% |  | 6.4%
Expected volatility | 24.1% |  | 26.1%
Expected lives | 2.95 years |  | 2.9 years
Risk-free interest rate | 3.94% |  | 4.49%
Schedule of Stock Option Activity | The following table summarizes our outstanding stock options:
|  |  |  |  | Weighted Average |  |
| Number |  | Weighted Average |  | Remaining |  |
| of Shares |  | Exercise Price |  | Contractual Life (Years) |  |
Options outstanding, January 1, 2024 | 2,447,171 |  |  | $68.80 |  |  |  |
Options granted | 431,000 |  |  | $57.76 |  |  |  |
Options expired | (301,837) |  |  | $79.96 |  |  |  |
Options outstanding, March 31, 2024 | 2,576,334 |  |  | $65.89 |  |  |  |
Exercisable at March 31, 2024 | 2,235,640 |  |  | $66.99 |  |  |  |
Options outstanding, January 1, 2025 | 1,416,215 |  |  | $71.06 |  |  |  |
Options granted | 557,000 |  |  | $73.34 |  |  |  |
Options exercised | (73,984) |  |  | $56.10 |  |  |  |
Options forfeited | (23,501) |  |  | $56.75 |  |  |  |
Options expired | (491,000) |  |  | $90.79 |  |  |  |
Options outstanding, March 31, 2025 | 1,384,730 |  |  | $66.03 |  | 3.35 |  |
Exercisable at March 31, 2025 | 940,874 |  |  | $64.44 |  | 2.73 |  |
Schedule of Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award | The following is a summary of share-based compensation expense, net of any forfeitures, included in “General and administrative expenses” in the Condensed Consolidated Statements of Income ($ in thousands):
| Three Months Ended |  |
| March 31, |  |
| 2025 |  | 2024 |  |  |  |
Share-based compensation components: |  |  |  |  |  |  |
Restricted stock expense | $ | 224 |  |  | $ | 158 |  |  |  |  |
Stock option expense | 2,334 |  |  | 1,997 |  |  |  |  |
Total share-based compensation expense | $ | 2,558 |  |  | $ | 2,155 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -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
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration