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Share-Based Compensation (Tables)

12 Months Ended

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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- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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