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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Valuation Assumptions | The following table illustrates the valuation assumptions used for the 2022, 2021 and 2020 grants:
| 2022 |  | 2021 |  | 2020
Expected volatility | 34 | % |  | 34 - 35% |  | 27 - 32%
Weighted-average expected volatility | 34 | % |  | 35 | % |  | 27 | %
Expected dividend yield | 1.2 | % |  | 1.3 - 1.4% |  | 1.3 - 1.3%
Weighted-average expected dividend yield | 1.2 | % |  | 1.4 | % |  | 1.3 | %
Expected term, in years | 5 |  | 5 |  | 5
Risk-free interest rate | 1.9 - 1.9% |  | 0.8 - 0.9% |  | 0.3 - 1.3%
Schedule of Activity for Stock Option Awards | The following table summarizes the activity during the year ended December 31, 2022 for stock option awards:
| Shares |  | Weighted-Average Exercise Price
Outstanding at beginning of year | 909,272 |  | $ | 65.98 |
Granted | 63,724 |  | 78.78 |
Exercised | (21,807) |  | 55.30 |
Forfeited | (8,107) |  | 77.19 |
Expired | (11,239) |  | 69.15 |
Outstanding at end of year | 931,843 |  | $ | 66.97 |
Exercisable at end of year | 814,220 |  | $ | 65.24 |
Schedule of Activity for Nonvested Restricted Share Awards | The following table summarizes the activity during the year ended December 31, 2022 for nonvested restricted share awards:
| Shares |  | Weighted-Average Grant Date Fair Value
Nonvested at beginning of year | 91,574 |  | $ | 59.30 |
Granted | 18,967 |  | 78.78 |
Vested | (29,030) |  | 58.32 |
Forfeited | (6,099) |  | 79.45 |
Nonvested at end of year | 75,412 |  | $ | 62.94 |
Schedule of Activity for Nonvested Performance Share Awards | The following table summarizes the activity during the year ended December 31, 2022 for nonvested performance share awards:
| Shares |  | Weighted-Average Grant Date Fair Value
Nonvested at beginning of year | 130,352 |  | $ | 73.96 |
Granted | 63,849 |  | 77.19 |
Vested | (43,198) |  | 63.69 |
Forfeited | (16,240) |  | 77.99 |
Nonvested at end of year | 134,763 |  | $ | 78.29 |
Schedule of Activity for Nonvested Restricted Stock Units | The following table summarizes the activity during the year ended December 31, 2022 for nonvested restricted stock units:
| Shares |  | Weighted-Average Grant Date Fair Value
Nonvested at beginning of year | 90,971 |  | $ | 78.06 |
Granted | 52,477 |  | 68.48 |
Vested | (15,673) |  | 83.57 |
Forfeited | (13,071) |  | 72.59 |
Nonvested at end of year | 114,704 |  | $ | 73.55 |

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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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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