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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2019
Summary of RSUs | A summary of the RSUs for the year ended December 31, 2019 is as follows:
|  | Restricted Share Awards |
|  | Performance |  |  |  |  |  |  | Total |  |  | Weighted-Average |
|  | and Service |  |  | Service |  |  | Restricted |  |  | Grant-Date |
|  | Required |  |  | Required |  |  | Awards |  |  | Fair Value |
Nonvested as of January 1, 2019 |  |  | 213,624 |  |  |  | 17,298 |  |  |  | 230,922 |  |  | $ | 53.68 |
Granted |  |  | 65,392 |  |  |  | 8,123 |  |  |  | 73,515 |  |  |  | 56.22 |
Vested |  |  | (75,921 | ) |  |  | (9,061 | ) |  |  | (84,982 | ) |  |  | 36.03 |
Forfeited |  |  | (6,753 | ) |  |  | (1,068 | ) |  |  | (7,821 | ) |  |  | 68.95 |
Nonvested as of December 31, 2019 |  |  | 196,342 |  |  |  | 15,292 |  |  |  | 211,634 |  |  | $ | 53.68 |
Weighted-Average Assumptions for Estimating Fair Values | The fair values for the stock options granted were estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:
| 2019 |  |  | 2018 |  |  | 2017 |
Risk-free interest rate |  | 1.8 | % |  |  | 2.8 | % |  |  | 2.0 | %
Dividend yield |  | 1.6 | % |  |  | 1.6 | % |  |  | 1.7 | %
Expected life (years) | 5 |  |  | 5 |  |  | 5 |
Expected volatility |  | 42.0 | % |  |  | 40.0 | % |  |  | 36.8 | %
Long Term Incentive Plan [Member] |
Stock Option Activity in Company's Plan | Activity in the Company’s LTIP and Incentive Plan for the year ended December 31, 2019 was as follows:
|  | Number of Shares |  |  | Weighted Average Exercise Price per Share |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding at January 1, 2019 |  |  | 30,750 |  |  | $ | 56.81 |  |  |  |  |  |  |  |  |
Granted |  |  | 5,000 |  |  | $ | 60.60 |  |  |  |  |  |  |  |  |
Exercised |  |  | (4,000 | ) |  | $ | 45.96 |  |  |  |  |  |  |  |  |
Forfeited |  |  | 0 |  |  | $ | 0.00 |  |  |  |  |  |  |  |  |
Outstanding (vested and expected to vest) at December 31, 2019 |  |  | 31,750 |  |  | $ | 58.77 |  |  |  | 6.6 |  |  | $ | 169 |
Exercisable at December 31, 2019 |  |  | 23,000 |  |  | $ | 58.68 |  |  |  | 5.6 |  |  | $ | 154 |
Stock Options [Member] |
Stock Option Activity in Company's Plan | Activity in the Company’s 1999 Stock Option Plan for the year ended December 31, 2019 was as follows:
|  | Number of Shares |  |  | Weighted Average Exercise Price per Share |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding at January 1, 2019 |  |  | 750 |  |  | $ | 39.10 |  |  |  |  |  |  |  |  |
Exercised |  |  | (750 | ) |  | $ | 39.10 |  |  |  |  |  |  |  |  |
Forfeited |  |  | 0 |  |  | $ | 0.00 |  |  |  |  |  |  |  |  |
Outstanding (exercisable and vested) at December 31, 2019 |  |  | 0 |  |  | $ | 0.00 |  |  |  | 0.0 |  |  | $ | 0 |

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