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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Valuation Assumptions

The following table illustrates the valuation assumptions used for the 2023, 2022 and 2021 grants:

			2023						2022						2021
Expected volatility			35		%				34		%				34 - 35%
Weighted-average expected volatility			35		%				34		%				35		%
Expected dividend yield			1.6		%				1.2		%				1.3 - 1.4%
Weighted-average expected dividend yield			1.6		%				1.2		%				1.4		%
Expected term, in years			5						5						5
Risk-free interest rate			4.2 - 4.2%						1.9 - 1.9%						0.8 - 0.9%

Schedule of Activity for Stock Option Awards

The following table summarizes the activity during the year ended December 31, 2023 for stock option awards:

			Shares						Weighted-Average Exercise Price
Outstanding at beginning of year			931,843						$	66.97
Granted			60,492						72.88
Exercised			(338,787)						61.17
Forfeited			(10,667)						75.76
Expired			(450)						71.70
Outstanding at end of year			642,431						$	70.43
Exercisable at end of year			534,335						$	69.33

Schedule of Activity for Nonvested Restricted Share Awards

The following table summarizes the activity during the year ended December 31, 2023 for nonvested restricted share awards:

			Shares						Weighted-Average Grant Date Fair Value
Nonvested at beginning of year			75,412						$	62.94
Granted			20,094						72.88
Vested			(5,667)						78.57
Forfeited			(4,873)						76.48
Nonvested at end of year			84,966						$	63.48

Schedule of Activity for Nonvested Performance Share Awards

The following table summarizes the activity during the year ended December 31, 2023 for nonvested performance share awards:

			Shares						Weighted-Average Grant Date Fair Value
Nonvested at beginning of year			134,763						$	78.29
Granted			67,396						73.12
Vested			(32,130)						77.27
Forfeited			(16,881)						76.45
Nonvested at end of year			153,148						$	76.44

Schedule of Activity for Nonvested Restricted Stock Units

The following table summarizes the activity during the year ended December 31, 2023 for nonvested restricted stock units:

			Shares						Weighted-Average Grant Date Fair Value
Nonvested at beginning of year			114,704						$	73.55
Granted			59,034						77.59
Vested			(38,303)						78.54
Forfeited			(6,216)						74.15
Nonvested at end of year			129,219						$	73.89

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