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Stock-Based Compensation Plans (Tables)

12 Months Ended

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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