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Long-Term Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Assumptions Used for Each Grant

The following table details the assumptions used for each grant based on the year it was granted (dollars in thousands):

	2019			2018			2017
Risk free interest rate		2.6	%		2.1	%		1.5	%
Expected volatility		20.0	%		16.5	%		22.2	%
Aggregate fair value	$	21,200		$	23,300		$	20,400

POP LTIP Units [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock Options, RSU and Performance Share Awards

The performance criteria were met for the 2017 – 2019, 2016 – 2018 and 2015 – 2017 performance periods at the end of the initial three-year performance period, which resulted in awards being earned in January 2020, 2019 and 2018, respectively, in the form of common stock and POP LTIP Units. See below for details on these performance periods (dollars and units in thousands, except average price):

	2017 – 2019		2016 – 2018 ⁽¹⁾		2015 – 2017
Performance pool	$	75,000	$	88,317	$	110,230
Common stock shares		266		423		582
POP LTIP Units and LTIP Units		548		924		1,170
Average price used to determine number of awards	$	92.21	$	65.57	$	62.65

(1)	The 2016 – 2018 performance period includes amounts and awards earned at December 31, 2019 related to the compensation pool in the excess of the Initial Award.

Restricted Stock Units (RSUs) [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock Options, RSU and Performance Share Awards

The following table summarizes the activity for RSUs for the year ended December 31, 2019 (units in thousands):

	Unvested RSUs			Weighted Average Grant Date Fair Value
Balance at January 1, 2019		1,255		$	54.48
Granted		648			74.58
Vested and distributed		(681	)		51.82
Forfeited		(57	)		62.93
Balance at December 31, 2019		1,165		$	68.44

Long Term Incentive Plan Units [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock Options, RSU and Performance Share Awards

The following table summarizes the activity for LTIP Units for the year ended December 31, 2019 (units in thousands):

	Vested LTIP Units			Unvested LTIP Units			Unvested Weighted Average Grant Date Fair Value
Balance at January 1, 2019		3,293			2,177		$	56.05
Granted		-			1,223			75.84
Forfeited		-			(21	)		66.77
Vested LTIP Units		1,134			(1,134	)		54.41
Vested POP LTIP Units⁽¹⁾		391			-		N/A
Unvested POP LTIP Units ⁽¹⁾		-			433			21.17
Conversion to common limited partnership units		(1,104	)		-		N/A
Balance at December 31, 2019		3,714			2,678		$	60.06

(1)	Vested and unvested units were based on the POP performance criteria being met for the 2016 – 2018 performance period and represented the earned award amounts. Vested and unvested units are included in the POP award table above.