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Long-Term Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Performance Award Valuation Assumptions The fair values were determined by a lattice-binomial option-pricing model based on Monte Carlo simulations using the following assumptions:
Year Ended December 31, 2023Year Ended December 31, 2022Year Ended December 31, 2021
Expected dividend yield2.46 %1.75 %2.49 %
Expected volatility - range used
27.09% - 32.03%
19.89% - 28.74%
29.00% - 37.18%
Expected volatility - weighted average29.42 %24.91 %32.44 %
Risk-free interest rate
4.23% - 4.78%
0.22% - 1.21%
0.02% - 0.19%
Summary of Performance Award Transactions
Performance Award transactions for the year ended December 31, 2023 are summarized as follows:
Performance UnitsWeighted
Average
Grant Date
Fair Value
Performance RLP UnitsWeighted
Average
Grant Date
Fair Value
Outstanding at December 31, 2022145,081 $23.49 739,430 $23.78 
Issued44,821 $27.54 280,083 $27.54 
Forfeited(1,031)$20.65 (5,053)$20.65 
Vested(53,532)$20.65 (262,302)$20.65 
Outstanding at December 31, 2023135,339 $25.98 752,158 $26.29 
Summary of Service Award Transactions Service Award transactions for the year ended December 31, 2023 are summarized as follows:
Service UnitsWeighted
Average
Grant Date
Fair Value
Service RLP UnitsWeighted
Average
Grant Date
Fair Value
Outstanding at December 31, 2022143,080 $51.41 119,007 $51.85 
Issued56,236 $53.33 98,342 $50.33 
Forfeited(2,146)$53.95 — $— 
Vested(68,855)$48.91 (69,788)$48.87 
Outstanding at December 31, 2023128,315 $53.55 147,561 $52.25