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Stock-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
Summarizes Transactions of SEUs | The following table summarizes the transactions of the Company’s SEUs for the year ended December 31, 2020:
|  | Number of SEUs |  |  | Weighted Average Exercise Price |  |  | Weighted Average Grant-Date Fair Value |
Outstanding at December 31, 2019 |  |  | 390,816 |  |  | $ | 3.69 |  |  | $ | 59.91 |
Granted – at discount |  |  | 113,107 |  |  | $ | 0.00 |  |  | $ | 76.63 |
– at market value |  |  | 3,634 |  |  | $ | 95.70 |  |  | $ | 18.69 |
Exercised |  |  | (93,057 | ) |  | $ | 0.82 |  |  | $ | 60.04 |
Forfeited |  |  | (24,336 | ) |  | $ | 0.60 |  |  | $ | 65.99 |
Outstanding at December 31, 2020 |  |  | 390,164 |  |  | $ | 4.35 |  |  | $ | 63.96 |
Stock Options Plan [Member] |
Assumptions Used to Determine Grant-Date Fair Value of Options | The following weighted average assumptions were used to determine the grant-date fair value of options:
|  | 2020 |  |  | 2019 |  |  | 2018 |
Dividend yield |  |  | 1.18 | % |  |  | 1.09 | % |  |  | 1.11 | %
Expected life |  |  | 5 years |  |  |  | 5 years |  |  |  | 5 years |
Volatility |  |  | 27.0 | % |  |  | 26.8 | % |  |  | 25.6 | %
Risk free interest rate |  |  | 1.13 | % |  |  | 2.48 | % |  |  | 2.74 | %
Summary of Transactions of Company's Stock Option Plans | The following table summarizes the transactions of the Company’s stock option plans for the year ended December 31, 2020:
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Grant-Date Fair Value |
Outstanding at December 31, 2019 |  |  | 504,459 |  |  | $ | 33.05 |  |  | $ | 41.35 |
Granted – at discount |  |  | 63,950 |  |  | $ | 1.11 |  |  | $ | 76.80 |
– at market value |  |  | 10,419 |  |  | $ | 95.70 |  |  | $ | 18.69 |
Exercised |  |  | (108,518 | ) |  | $ | 20.31 |  |  | $ | 45.17 |
Forfeited |  |  | (27,417 | ) |  | $ | 41.93 |  |  | $ | 36.41 |
Outstanding at December 31, 2020 |  |  | 442,893 |  |  | $ | 32.49 |  |  | $ | 45.31 |
Stock Equivalent Units [Member] |
Assumptions Used to Determine Fair Value of SEUs | The following assumptions were used to determine the fair value of SEUs at the balance sheet dates:
|  | 2020 |  |  | 2019 |  |  | 2018 |
Dividend yield |  |  | 1.15 | % |  |  | 0.99 | % |  |  | 1.44 | %
Expected life |  |  | 5 years |  |  |  | 5 years |  |  |  | 5 years |
Volatility |  |  | 39.9 | % |  |  | 26.6 | % |  |  | 27.2 | %
Risk free interest rate |  |  | 0.17 | % |  |  | 1.62 | % |  |  | 2.46 | %

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