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Stock-Based and Other Compensation (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Restricted and Conditional Award Activity
Nonvested RSAs, RSUs, and PSUs at December 31, 2020 and changes during the years ended December 31, 2020, 2019, and 2018 were as follows:
RSA and RSU AwardsPSU Awards
SharesWeighted-Average Grant Date Fair ValueSharesWeighted-Average Grant Date Fair Value
Nonvested at January 1, 2018324,339 $61.43 281,299 $74.57 
Granted137,519 64.50 75,864 75.81 
Vested (a)
(181,777)62.25 (66,632)76.96 
Forfeited (3,079)61.71 (3,098)76.49 
Adjustment (b)
— — 43,783 74.17 
Nonvested at December 31, 2018277,002 62.41 331,216 78.82 
Granted163,447 72.86 84,006 92.16 
Vested (a)
(152,364)62.11 (403,701)74.04 
Forfeited(4,108)68.10 (2,829)75.81 
Adjustment (b)
— — 322,550 77.69 
Nonvested at December 31, 2019283,977 68.51 331,242 80.90 
Granted (c)
146,162 81.02 90,518 104.65 
Vested (a)
(163,607)69.62 (156,838)80.42 
Forfeited(5,555)71.69 (6,715)88.94 
Adjustment (b)
— — 3,806 62.07 
Nonvested at December 31, 2020 (d)
260,977 $74.75 262,013 $88.99 
__________
(a)The grant date fair value of shares vested during the years ended December 31, 2020, 2019, and 2018 was $24.0 million, $39.4 million, and $16.4 million, respectively. Employees have the option to take immediate delivery of the shares upon vesting or defer receipt to a future date pursuant to previously made deferral elections. At December 31, 2020 and 2019, we had an obligation to issue 986,859 and 893,713 shares, respectively, of our common stock underlying such deferred awards, which is recorded within Total stockholders’ equity as a Deferred compensation obligation of $42.0 million and $37.3 million, respectively.
(b)Vesting and payment of the PSUs is conditioned upon certain company and/or market performance goals being met during the relevant three-year performance period. The ultimate number of PSUs to be vested will depend on the extent to which the performance goals are met and can range from zero to three times the original awards. As a result, we recorded adjustments to reflect the number of shares expected to be issued when the PSUs vest.
(c)The grant date fair value of RSAs and RSUs reflect our stock price on the date of grant on a one-for-one basis. The grant date fair value of PSUs was determined utilizing (i) a Monte Carlo simulation model to generate an estimate of our future stock price over the three-year performance period and (ii) future financial performance projections. To estimate the fair value of PSUs granted during the year ended December 31, 2020, we used a risk-free interest rate of 1.6%, an expected volatility rate of 15.2%, and assumed a dividend yield of zero.
(d)At December 31, 2020, total unrecognized compensation expense related to these awards was approximately $19.3 million, with an aggregate weighted-average remaining term of 1.7 years.