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Stock-based Employee Compensation, Stock Option Plans, and Deferred Compensation Plan for Directors (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock Options Issued

			Directors									Officers
Grant date			May 12, 2023			May 13, 2022						May 12, 2023			May 13, 2022
Exercise price			$	33.79		$	47.90					$	33.79		$	47.90
Fair value per option			$	6.53		$	8.34					$	6.06		$	7.66
Volatility			0.319			0.300						0.288			0.271
Expected life (years)			5.0			5.0						7.0			7.0
Assumed yield			4.94		%	4.90		%				4.96		%	4.93		%
Risk-free rate			3.45		%	2.89		%				3.45		%	2.95		%

Summary of Option Activity

The table below summarizes the option activity for the years 2024, 2023, and 2022:

			2024												2023												2022
			Shares						Weighted Average Exercise Price						Shares						Weighted Average Exercise Price						Shares						Weighted Average Exercise Price
Outstanding at January 1			1,820,000						$	49.41					1,768,375						$	51.28					1,601,250						$	51.73
Granted			—						—						253,500						33.79						248,000						47.90
Exercised			(10,625)						33.79						—						—						(26,875)						44.44
Expired/Forfeited			(626,375)						51.29						(201,875)						46.20						(54,000)						52.60
Outstanding December 31			1,183,000						48.55						1,820,000						49.41						1,768,375						51.28
Exercisable at December 31			943,250						50.64						1,370,125						52.02						1,237,250						52.76

Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award

The following table summarizes the 2024 restricted share awards:

			Directors						Officers
Grant date			May 20, 2024						May 17, 2024						December 5, 2024
Target restricted shares			18,000						70,200						11,700
Change in awards based on performance			—						5,850						—
Closing price per share			$	37.52					$	38.10					$	40.35
Fair value per share			34.63						38.08						36.44

Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

The table below summarizes the restricted stock activity for the year ended December 31, 2024:

			Number of Shares						Weighted Average Estimated Fair Value Per Share						Estimated Aggregate Fair Value
Outstanding at January 1			—						$	—					$	—
Granted			99,900						35.29						3,525,351
Vested			—						—						—
Change in awards based on performance			5,850						33.73						197,309
Forfeited			—						—						—
Outstanding at December 31			105,750						35.20						3,722,660
Authorized future grants			35,100

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