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Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Fair Value Assumptions for Stock Options

The following are the weighted-average assumptions used to calculate the grant-date fair values of stock option awards granted in the years ended December 31, 2020, 2019 and 2018:

		For the Years Ended December 31
		2020		2019		2018
Expected dividend yield		1.31%		1.32%		1.34%
Expected volatility		26.00%		26.98%		27.41%
Expected term		7.3 years		7.3 years		7.3 years
Risk-free interest rate		1.47%		2.53%		2.88%

Summary of Stock Option Activity

A summary of stock option activity for the year ended December 31, 2020 is presented below:

		Shares				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term				Aggregate Intrinsic Value ($000)
Options
Outstanding at January 1, 2020			360,822			$	66.15
Granted			81,924				102.06
Exercised			(48,389	)			60.47
Forfeited			(1,807	)			89.64
Outstanding at December 31, 2020			392,550				74.24				6.61			$	17,697
Vested or expected to vest at December 31, 2020			385,352				73.76				6.56				17,555
Exercisable at December 31, 2020			310,302				67.88				6.03				15,962

Summary of Stock Award Activity

A summary of stock award activity for the year ended December 31, 2020, is presented below:

		Shares				Weighted-Average Grant Date Fair Value
Stock Awards
Unvested at January 1, 2020			87,334			$	80.78
Granted			65,278				98.46
Vested			(36,115	)			70.49
Forfeited			(9,146	)			84.64
Unvested at December 31, 2020			107,351				94.66

Summary of SARs Activity

The following is a summary of SARs activity for the year ended December 31, 2020:

		Shares				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term				Aggregate Intrinsic Value ($000)
SARs
Outstanding at January 1, 2020			655,417			$	68.83
Granted			176,330				101.96
Exercised			(172,826	)			57.32
Forfeited			(5,423	)			89.63
Outstanding at December 31, 2020			653,498				80.64				7.12			$	25,297

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Tabular disclosure of the changes in outstanding nonvested shares.

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-Name Accounting Standards Codification
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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year.

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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.

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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.

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