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Share-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2023
Assumptions Used to Determine Grant-Date Fair Value of Options |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Dividend yield |  |  | 1.16 | % |  |  | 1.27 | % |  |  | 1.17 | %
Expected life |  | 4 years |  |  | 5 years |  |  | 5 years |
Volatility |  |  | 39.7 | % |  |  | 39.8 | % |  |  | 40.2 | %
Risk free interest rate |  |  | 4.47 | % |  |  | 2.90 | % |  |  | 0.45 | %
Employee Stock Option |
Summary of Transactions of Company's Stock Option Plans | The following tables summarizes the transactions of the Company’s share-based compensation plans for the year ended December 31, 2023.
|  | Number of shares |  |  | Weighted Average Grant-Date Fair Value |
Nonvested at December 31, 2022 |  |  | 757,040 |  |  | $ | 69.0 |
Granted |  |  | 159,322 |  |  | $ | 94.4 |
Vested |  |  | (210,702 | ) |  | $ | 66.6 |
Forfeited |  |  | (52,769 | ) |  | $ | 76.1 |
Nonvested at December 31, 2023 |  |  | 652,891 |  |  | $ | 75.2 |
|  | Number of shares |  |  | Weighted Average Exercise price |  |  | Weighted-Average Remaining Contractual Term (years) |
Outstanding at December 31, 2022 |  |  | 864,518 |  |  | $ | 20.1 |  |  |  |
Granted |  |  | 159,322 |  |  | $ | 9.8 |  |  |  |
Exercised |  |  | (267,297 | ) |  | $ | 4.2 |  |  |  |
Forfeited |  |  | (54,767 | ) |  | $ | 7.9 |  |  |  |
Outstanding at December 31, 2023 |  |  | 701,776 |  |  | $ | 24.8 |  |  |  | 3.3 |
Exercisable at December 31, 2023 |  |  | 48,885 |  |  | $ | 29.2 |  |  |  | 4.3 |

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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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