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Stock-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Estimated Fair Value of Stock Options | The fair value of each stock option granted in 2023, 2022 and 2021, was estimated on the date of grant using the following weighted-average assumptions.
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Dividend yield |  |  | 9.4 | % |  |  | 3.0 | % |  |  | 3.6 | %
Volatility |  |  | 28.0 | % |  |  | 27.9 | % |  |  | 29.6 | %
Risk-free interest rate |  |  | 3.7 | % |  |  | 1.2 | % |  |  | 0.4 | %
Expected life |  | 10.0 years |  |  | 10.0 years |  |  | 5.5 years |
Weighted average grant date fair value |  | $ | 11.09 |  |  | $ | 8.60 |  |  | $ | 3.45 |
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, 2023.
|  | 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, 2023 |  |  | 318 |  |  | $ | 19.25 |  |  |  |  |  |  |
Granted |  |  | 107 |  |  |  | 23.95 |  |  |  |  |  |  |
Exercised |  |  | (13 | ) |  |  | 16.92 |  |  |  |  |  |  |
Forfeited or expired |  |  | (26 | ) |  |  | 21.39 |  |  |  |  |  |  |
Outstanding at December 31, 2023 |  |  | 386 |  |  | $ | 20.50 |  |  |  | 6.78 |  |  | $ | 456 |
Vested or expected to vest at December 31, 2023 |  |  | 386 |  |  | $ | 20.50 |  |  |  | 6.78 |  |  | $ | 456 |
Exercisable at December 31, 2023 |  |  | 201 |  |  | $ | 18.67 |  |  |  | 5.32 |  |  | $ | 398 |
Summary of Status of Company's Non-Vested Restricted Shares | The table below summarizes activity related to the Company’s non-vested RSAs and PRSUs for the year ended December 31, 2023.
|  | Shares |  |  | Weighted Average Fair Value |
|  | (In thousands) |  |  |  |
Nonvested at January 1, 2023 |  |  | 1,069 |  |  | $ | 21.37 |
Granted |  |  | 484 |  |  |  | 22.44 |
Vested |  |  | (364 | ) |  |  | 20.95 |
Forfeited |  |  | (32 | ) |  |  | 22.57 |
Nonvested at December 31, 2023 |  |  | 1,157 |  | (1) | $ | 21.93 |
(1) Includes 189,042 PRSUs. There are no restricted stock units outstanding.

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -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
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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 -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
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