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Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Estimated Fair Value of Stock Options

The fair value of each stock option granted in 2020, 2019 and 2018, was estimated on the date of grant using the following weighted-average assumptions.

		Year Ended December 31,
		2021				2020				2019
Dividend yield			3.6	%			4.0	%			2.4	%
Volatility			29.6	%			27.1	%			23.3	%
Risk-free interest rate			0.4	%			0.4	%			2.5	%
Expected life		5.5 years				5.3 years				5.4 years
Weighted average grant date fair value		$	3.45			$	2.56			$	4.35

Option Activity under Company's Stock Option Plans

The following table presents option activity under the Company’s stock option plans as of and for the year ended December 31, 2021.

		Number of Stock Options Outstanding				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term				Aggregate Intrinsic Value
		(In thousands)								(In years)				(In thousands)
Outstanding at January 1, 2021			428			$	17.57
Granted			65				19.95
Exercised			(68	)			18.88
Forfeited or expired			(11	)			18.98
Outstanding at December 31, 2021			414			$	17.98				6.57			$	1,492
Vested or expected to vest at December 31, 2021			414			$	17.98				6.57			$	1,492
Exercisable at December 31, 2021			212			$	17.03				4.75			$	975

Summary of Status of Company's Non-Vested Restricted Shares

The table below summarizes activity related to the Company’s non-vested RSAs and RSUs for the year ended December 31, 2021.

		Shares				Weighted Average Fair         Value
		(In thousands)
Nonvested at January 1, 2021			491			$	19.36
Granted			395				20.43
Vested			(176	)			19.51
Forfeited			(47	)			21.23
Nonvested at December 31, 2021			663			$	19.83

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
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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.

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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.

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-Name Accounting Standards Codification
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