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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Summary of RSUs | A summary of the RSUs for the year ended December 31, 2020 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, 2020 |  |  | 196,342 |  |  |  | 15,292 |  |  |  | 211,634 |  |  | $ | 53.68 |
Granted |  |  | 71,539 |  |  |  | 9,547 |  |  |  | 81,086 |  |  |  | 54.25 |
Vested |  |  | (73,053 | ) |  |  | (6,290 | ) |  |  | (79,343 | ) |  |  | 56.13 |
Forfeited |  |  | (11,051 | ) |  |  | (2,763 | ) |  |  | (13,814 | ) |  |  | 61.29 |
Nonvested as of December 31, 2020 |  |  | 183,777 |  |  |  | 15,786 |  |  |  | 199,563 |  |  | $ | 60.33 |
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:
| 2020 |  |  | 2019 |  |  | 2018 |
Risk-free interest rate |  | 1.8 | % |  |  | 1.8 | % |  |  | 2.8 | %
Dividend yield |  | 1.6 | % |  |  | 1.6 | % |  |  | 1.6 | %
Expected life (years) | 5 |  |  | 5 |  |  | 5 |
Expected volatility |  | 42.0 | % |  |  | 42.0 | % |  |  | 40.0 | %
Long Term Incentive Plan [Member] |
Activity in Company's Plan | Activity in the Company’s LTIP and Incentive Plan for the year ended December 31, 2020 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, 2020 |  |  | 31,750 |  |  | $ | 58.77 |  |  |  |  |  |  |  |  |
Granted |  |  | 25,500 |  |  | $ | 48.13 |  |  |  |  |  |  |  |  |
Exercised |  |  | (5,050 | ) |  | $ | 47.68 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (1,250 | ) |  | $ | 48.00 |  |  |  |  |  |  |  |  |
Outstanding (vested and expected to vest) at December 31, 2020 |  |  | 50,950 |  |  | $ | 54.81 |  |  |  | 7.5 |  |  | $ | 726 |
Exercisable at December 31, 2020 |  |  | 21,700 |  |  | $ | 61.77 |  |  |  | 5.0 |  |  | $ | 151 |

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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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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