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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of RSUs

A summary of the RSUs for the years ended December 31, 2024 is as follows:

			Restricted Share Awards
			Performance and Service Required (a)						Service Required						Total Restricted Awards						Weighted-Average Grant-Date Fair Value
Nonvested as of January 1, 2024			156,477						24,108						180,585						$	71.61
Granted			40,914						7,040						47,954						123.76
Vested			(50,868)						(13,898)						(64,766)						69.12
Forfeited			0						0						0						—
Nonvested as of December 31, 2024			146,523						17,250						163,773						87.86

(a)    Nonvested, performance-based RSUs are reflected above at the maximum performance achievement level.

Schedule of Fair Values for the Stock Options

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:

			2024						2022
Risk-free interest rate			4.2		%				3.1		%
Dividend yield			1.1		%				1.3		%
Expected life (years)			5 years						5 years
Expected volatility			38.2		%				37.1		%

Schedule of Option Activity in the Company's Incentive Plan

Activity in the Company’s Incentive Plan for the year ended December 31, 2024 was as follows:

			Number of Shares						Weighted Average Exercise Price per Share						Weighted Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value
Outstanding as of January 1, 2024			22,500						$	58.89
Granted			7,500						—
Exercised			(3,575)						57.73
Forfeited			—						—
Outstanding (vested and expected to vest) at December 31, 2024			26,425						79.33						7.8						$	1,300
Exercisable at December 31, 2024			12,300						57.96						6.7						$	859

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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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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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