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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Share-based Payment Arrangement, Noncash Expense [Abstract]    
Assumptions used for the grants
The following table illustrates the valuation assumptions used for the 2019, 2018 and 2017 grants:
 
2019
 
2018
 
2017
Expected volatility
26 - 27%

 
25
%
 
25 - 26%

Weighted-average expected volatility
26
%
 
25
%
 
26
%
Expected dividend yield
1.2 - 1.4%

 
1.2
%
 
1.2 - 1.3%

Weighted-average expected dividend yield
1.2
%
 
1.2
%
 
1.3
%
Expected term, in years
5

 
5

 
5

Risk-free interest rate
1.6 - 2.5%

 
2.6 - 2.9%

 
1.7 - 2.0%


  
Stock option activity
The following table summarizes the activity during the year ended December 31, 2019 for stock option awards:
 
Shares
 
Weighted-Average Exercise Price
Outstanding at beginning of year
1,084,567

 
$
55.11

Granted
210,664

 
63.68

Exercised
(182,433
)
 
33.52

Forfeited
(29,223
)
 
66.76

Expired
(11,798
)
 
$
68.05

Outstanding at end of year
1,071,777

 
$
60.01

Exercisable at end of year
711,381

 
$
56.91


  
Nonvested restricted share awards activity  
The following table summarizes the activity during the year ended December 31, 2019 for nonvested restricted share awards:
 
Shares
 
Weighted-Average Grant Date Fair Value
Nonvested at beginning of year
100,221

 
$
53.52

Granted
16,211

 
63.65

Vested
(18,025
)
 
54.45

Forfeited
(4,808
)
 
69.57

Nonvested at end of year
93,599

 
$
54.27
Nonvested performance share awards activity
The following table summarizes the activity during the year ended December 31, 2019 for nonvested performance share awards:
 
Shares
 
Weighted-Average Grant Date Fair Value
Nonvested at beginning of year
127,047

 
$
63.80

Granted
50,864

 
63.68

Forfeited
(57,197
)
 
55.97

Nonvested at end of year
120,714

 
$
67.45


  
Nonvested restricted stock units activity
The following table summarizes the activity during the year ended December 31, 2019 for nonvested restricted stock units:
 
Shares
 
Weighted-Average Grant Date Fair Value
Nonvested at beginning of year
101,955

 
$
67.23

Granted
36,116

 
64.06

Vested
(29,905
)
 
72.73

Forfeited
(4,879
)
 
63.23

Nonvested at end of year
103,287

 
$
64.72