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Accounting for Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Schedule of Stock-based Compensation Expense | The total stock-based compensation expense for the years ended December 31, 2021, 2020, and 2019, the unrecognized compensation expense at December 31, 2021, and the weighted-average period to recognize the remaining unrecognized shares are as follows:
|  | Stock-Based Compensation Expense |
|  | Recognized as of December 31, |  |  | Unrecognized |
|  | 2021 |  |  | 2020 |  |  | 2019 |  |  | December 31, 2021 |  |  | Weighted Average Period to Recognize (years) |
Restricted Stock Units |  | $ | 8,563 |  |  | $ | 11,895 |  |  | $ | 10,644 |  |  | $ | 13,373 |  |  |  | 1.6 |
Cash-Settled Restricted Stock Units |  |  | 8,251 |  |  |  | 7,015 |  |  |  | 10,213 |  |  |  | 7,062 |  |  |  | 1.7 |
Non-Employee Director Awards |  |  | 937 |  |  |  | 755 |  |  |  | 719 |  |  |  | 460 |  |  |  | 0.4 |
Performance Shares |  |  | 3,731 |  |  |  | 4,905 |  |  |  | 4,455 |  |  |  | 3,768 |  |  |  | 1.4 |
Total |  | $ | 21,482 |  |  | $ | 24,570 |  |  | $ | 26,031 |  |  | $ | 24,663 |  |  |  |  |
Outstanding Stock Option Activity | The following table summarizes the changes in outstanding stock options:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic Value |
Outstanding at January 1, 2019 |  |  | 201,810 |  |  | $ | 33.68 |  |  |  |  |
Exercised |  |  | (93,682 | ) |  | $ | 31.21 |  |  |  |  |
Granted |  |  | — |  |  | $ | — |  |  |  |  |
Forfeited/Expired |  |  | — |  |  | $ | — |  |  |  |  |
Outstanding at December 31, 2019 |  |  | 108,128 |  |  | $ | 35.82 |  |  |  |  |
Exercised |  |  | (69,901 | ) |  | $ | 37.94 |  |  |  |  |
Granted |  |  | — |  |  | $ | — |  |  |  |  |
Forfeited/Expired |  |  | — |  |  | $ | — |  |  |  |  |
Outstanding at December 31, 2020 |  |  | 38,227 |  |  | $ | 31.93 |  |  |  |  |
Exercised |  |  | (8,535 | ) |  | $ | 27.17 |  |  |  |  |
Granted |  |  | — |  |  | $ | — |  |  |  |  |
Forfeited/Expired |  |  | — |  |  | $ | — |  |  |  |  |
Outstanding at December 31, 2021 |  |  | 29,692 |  |  | $ | 33.30 |  |  | $ | 2,056,051 |
Vested plus expected to vest at December 31, 2021 |  |  | 29,692 |  |  | $ | 33.30 |  |  | $ | 2,056,051 |
Exercisable at December 31, 2021 |  |  | 29,692 |  |  | $ | 33.30 |  |  | $ | 2,056,051 |
Schedule of Stock Options Outstanding by Exercise Price Range | Information regarding stock options outstanding as of December 31, 2021 is summarized below:
|  | OPTIONS OUTSTANDING |  |  | OPTIONS EXERCISABLE |
Range of Exercise Prices |  | Number Outstanding As of December 31, 2021 |  |  | Weighted Average Remaining Contractual Term |  |  | Weighted Average Exercise Price |  |  | Number Exercisable As of December 31, 2021 |  |  | Weighted Average Exercise Price |
$25.01 to $27.00 |  |  | 3,572 |  |  |  | 0.2 |  |  | $ | 25.66 |  |  |  | 3,572 |  |  | $ | 25.66 |
$27.01 to $40.00 |  |  | 12,114 |  |  |  | 1.2 |  |  | $ | 27.03 |  |  |  | 12,114 |  |  | $ | 27.03 |
$40.01 to $41.00 |  |  | 14,006 |  |  |  | 2.2 |  |  | $ | 40.68 |  |  |  | 14,006 |  |  | $ | 40.68 |
$25.01 to $41.00 |  |  | 29,692 |  |  |  | 1.6 |  |  | $ | 33.30 |  |  |  | 29,692 |  |  | $ | 33.30 |
Summary of Non-employee Director Awards | Beginning on July 2, 2018, the Company granted awards of registered shares to its non-employee directors on an annual basis under the Omnibus Plan. A summary of the non-employee director awards is presented below:
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value |  |  | Aggregate Intrinsic Value |
Non-vested RSUs at January 1, 2019 |  |  | 4,968 |  |  | $ | 72.35 |  |  |  |  |
Granted |  |  | 9,732 |  |  | $ | 73.94 |  |  |  |  |
Vested |  |  | (9,840 | ) |  | $ | 73.14 |  |  |  |  |
Cancelled |  |  | — |  |  | $ | — |  |  |  |  |
Non-vested RSUs at December 31, 2019 |  |  | 4,860 |  |  | $ | 73.94 |  |  |  |  |
Granted |  |  | 12,541 |  |  | $ | 64.58 |  |  |  |  |
Vested |  |  | (10,891 | ) |  | $ | 68.82 |  |  |  |  |
Cancelled |  |  | — |  |  | $ | — |  |  |  |  |
Non-vested RSUs at December 31, 2020 |  |  | 6,510 |  |  | $ | 64.47 |  |  |  |  |
Granted |  |  | 11,186 |  |  | $ | 90.73 |  |  |  |  |
Vested |  |  | (12,110 | ) |  | $ | 76.61 |  |  |  |  |
Cancelled |  |  | — |  |  | $ | — |  |  |  |  |
Non-vested RSUs at December 31, 2021 |  |  | 5,586 |  |  | $ | 90.73 |  |  | $ | 572,844 |
RSUs expected to vest in the future |  |  | 5,586 |  |  | $ | 90.73 |  |  | $ | 572,844 |
Summary of Performance Shares Activity | A summary of the Company’s PSAs is presented below.
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value |  |  | Aggregate Intrinsic Value |
Non-vested PSAs at January 1, 2019 |  |  | 169,486 |  |  | $ | 45.15 |  |  |  |  |
Granted |  |  | 85,928 |  |  | $ | 62.07 |  |  |  |  |
Vested |  |  | (107,000 | ) |  | $ | 37.21 |  |  |  |  |
Cancelled |  |  | — |  |  | $ | — |  |  |  |  |
Non-vested PSAs at December 31, 2019 |  |  | 148,414 |  |  | $ | 60.67 |  |  |  |  |
Granted |  |  | 87,314 |  |  | $ | 51.44 |  |  |  |  |
Vested |  |  | (88,038 | ) |  | $ | 38.81 |  |  |  |  |
Cancelled |  |  | (5,569 | ) |  | $ | 69.66 |  |  |  |  |
Non-vested PSAs at December 31, 2020 |  |  | 142,121 |  |  | $ | 68.19 |  |  |  |  |
Granted |  |  | 54,216 |  |  | $ | 85.03 |  |  |  |  |
Vested |  |  | (63,258 | ) |  | $ | 65.05 |  |  |  |  |
Cancelled |  |  | — |  |  | $ | — |  |  |  |  |
Non-vested PSAs at December 31, 2021 |  |  | 133,079 |  |  | $ | 76.54 |  |  | $ | 13,647,251 |
PSAs expected to vest in the future |  |  | 85,540 |  |  | $ | 73.38 |  |  | $ | 8,772,127 |
Schedule of Fair Value Assumptions using Monte Carlo Simulation Model for Awards Granted | The fair value assumptions using the Monte Carlo simulation model for awards granted in 2021, 2020, and 2019 were:
|  | 2021 |  |  | 2020 |  |  | 2019 |
Dividend Yield |  |  | 0.6 | % |  |  | 1.0 | % |  |  | 0.7 | %
Historical Volatility |  |  | 40.9 | % |  |  | 35.7 | % |  |  | 29.3 | %
Risk-Free Rate of Returns |  |  | 0.3 | % |  |  | 0.4 | % |  |  | 2.4 | %
Restricted Stock Units (RSUs) |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Schedule of Restricted Stock Unit Activity | A summary of the Company’s RSUs is presented below.
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value |  |  | Aggregate Intrinsic Value |
Non-vested RSUs at January 1, 2019 |  |  | 474,240 |  |  | $ | 50.93 |  |  |  |  |
Granted |  |  | 159,831 |  |  | $ | 77.74 |  |  |  |  |
Vested |  |  | (164,913 | ) |  | $ | 43.82 |  |  |  |  |
Cancelled |  |  | (19,183 | ) |  | $ | 56.18 |  |  |  |  |
Non-vested RSUs at December 31, 2019 |  |  | 449,975 |  |  | $ | 62.48 |  |  |  |  |
Granted |  |  | 170,411 |  |  | $ | 58.27 |  |  |  |  |
Vested |  |  | (258,307 | ) |  | $ | 54.73 |  |  |  |  |
Cancelled |  |  | (56,680 | ) |  | $ | 63.46 |  |  |  |  |
Non-vested RSUs at December 31, 2020 |  |  | 305,399 |  |  | $ | 66.51 |  |  |  |  |
Granted |  |  | 132,757 |  |  | $ | 95.68 |  |  |  |  |
Vested |  |  | (119,203 | ) |  | $ | 66.46 |  |  |  |  |
Cancelled |  |  | (15,117 | ) |  | $ | 68.53 |  |  |  |  |
Non-vested RSUs at December 31, 2021 |  |  | 303,836 |  |  | $ | 79.17 |  |  | $ | 31,158,382 |
RSUs expected to vest in the future |  |  | 277,250 |  |  | $ | 78.48 |  |  | $ | 28,431,988 |
Cash Settled RSUs |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Schedule of Restricted Stock Unit Activity | CSRSUs generally have a vesting term of three to four years. A summary of the Company’s CSRSUs is presented below.
|  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value |  |  | Aggregate Intrinsic Value |
Non-vested CSRSUs at January 1, 2019 |  |  | 337,406 |  |  | $ | 47.73 |  |  |  |  |
Granted |  |  | 103,606 |  |  | $ | 77.03 |  |  |  |  |
Vested |  |  | (123,395 | ) |  | $ | 44.61 |  |  |  |  |
Cancelled |  |  | (21,384 | ) |  | $ | 53.99 |  |  |  |  |
Non-vested CSRSUs at December 31, 2019 |  |  | 296,233 |  |  | $ | 58.83 |  |  |  |  |
Granted |  |  | 134,259 |  |  | $ | 60.30 |  |  |  |  |
Vested |  |  | (154,653 | ) |  | $ | 49.44 |  |  |  |  |
Cancelled |  |  | (34,358 | ) |  | $ | 63.03 |  |  |  |  |
Non-vested CSRSUs at December 31, 2020 |  |  | 241,481 |  |  | $ | 65.06 |  |  |  |  |
Granted |  |  | 52,246 |  |  | $ | 89.51 |  |  |  |  |
Vested |  |  | (104,272 | ) |  | $ | 63.96 |  |  |  |  |
Cancelled |  |  | (23,195 | ) |  | $ | 69.68 |  |  |  |  |
Non-vested CSRSUs at December 31, 2021 |  |  | 166,260 |  |  | $ | 72.79 |  |  | $ | 17,049,963 |
CSRSUs expected to vest in the future |  |  | 149,894 |  |  | $ | 72.34 |  |  | $ | 15,371,630 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock awards granted to nonemployee directors that were outstanding at the beginning and end of the year, and the number of awards that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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