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Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [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, 2022, 2021 and 2020:
|  | For the Years Ended December 31
|  | 2022 |  | 2021 |  | 2020
Expected dividend yield |  | 1.18% |  | 1.30% |  | 1.31%
Expected volatility |  | 32.27% |  | 31.81% |  | 26.00%
Expected term |  | 6.0 years |  | 7.3 years |  | 7.3 years
Risk-free interest rate |  | 1.93% |  | 0.96% |  | 1.47%
Summary of Stock Option Activity | A summary of stock option activity for the year ended December 31, 2022 is presented below:
|  | Shares |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value ($000) |
Options |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at January 1, 2022 |  |  | 435,966 |  |  | $ | 81.92 |  |  |  |  |  |  |
Granted |  |  | 34,444 |  |  |  | 114.43 |  |  |  |  |  |  |
Exercised |  |  | (11,888 | ) |  |  | 65.74 |  |  |  |  |  |  |
Forfeited |  |  | (31,361 | ) |  |  | 115.43 |  |  |  |  |  |  |
Outstanding at December 31, 2022 |  |  | 427,161 |  |  |  | 82.53 |  |  |  | 5.27 |  |  | $ | 10,224 |
Vested or expected to vest at December 31, 2022 |  |  | 427,161 |  |  |  | 82.53 |  |  |  | 5.27 |  |  |  | 10,224 |
Exercisable at December 31, 2022 |  |  | 408,802 |  |  |  | 80.80 |  |  |  | 5.14 |  |  |  | 10,488 |
Summary of Stock Award Activity | A summary of stock award activity for the year ended December 31, 2022, is presented below:
|  | Shares |  |  | Weighted-Average Grant Date Fair Value |
Stock Awards |  |  |  |  |  |
Unvested at January 1, 2022 |  |  | 103,278 |  |  | $ | 61.30 |
Granted |  |  | 64,392 |  |  |  | 106.78 |
Vested |  |  | (69,314 | ) |  |  | 99.30 |
Forfeited/Modified due to change of assumptions |  |  | 5,613 |  |  |  | 86.94 |
Unvested at December 31, 2022 |  |  | 103,969 |  |  |  | 110.50 |
Summary of SARs Activity | The following is a summary of SARs activity for the year ended December 31, 2022:
|  | Shares |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value ($000) |
SARs |  |  |  |  |  |  |  |  |  |  |  |
Outstanding at January 1, 2022 |  |  | 726,987 |  |  | $ | 90.06 |  |  |  |  |  |  |
Granted |  |  | 188,957 |  |  |  | 110.04 |  |  |  |  |  |  |
Exercised |  |  | (31,562 | ) |  |  | 63.06 |  |  |  |  |  |  |
Forfeited |  |  | (34,226 | ) |  |  | 115.20 |  |  |  |  |  |  |
Outstanding at December 31, 2022 |  |  | 850,156 |  |  |  | 94.49 |  |  |  | 6.62 |  |  | $ | 10,176 |

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- Definition 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. + 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 (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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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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