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Share-Based Compensation and Capital Stock (Tables)
 9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Pre-Tax Stock-Based Compensation Expenses The components of the Company’s pretax share-based compensation activity and associated income tax expense are as follows for the three and nine months ended September 30, 2021 and 2020:
 Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2021202020212020
Stock options$933 $497 $2,482 $1,478 
Restricted stock awards2,285 2,206 7,126 6,249 
Performance vested restricted stock units2,950 675 7,760 (4,836)
Total share-based compensation expense$6,168 $3,378 $17,368 $2,891 
Income tax expense$1,498 $805 $4,219 $689 
Summary of Change In Stock-Based Award Activity A summary of share-based award activity as of and changes during the nine months ended September 30, 2021 are presented below:
 Stock OptionsRestricted StockPerformance Vested
Restricted Stock Units
 OptionsWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term		SharesWeighted
Average
Grant Date
Fair Value		SharesWeighted
Average
Grant Date
Fair Value
Outstanding at January 1, 2021819,610 $70.48 304,439 $84.48 321,752 $109.25 
Granted280,811 104.87 55,439 107.49 98,544 108.75 
Performance-Based Leveraging (1)
— — — — 75,476 107.51 
Exercised/Vested(181,458)59.61 (106,167)80.80 (3,986)81.55 
Expired— — — — (72,955)81.55 
Forfeited(1,629)104.87 (15,401)89.79 (3,324)95.98 
Outstanding at September 30, 2021917,334 $83.10 5.8 years238,310 $91.12 415,507 $114.05 
Options exercisable at September 30, 2021425,571 $67.02 3.1 years
(1) PVRSUs outstanding have been increased by 75,476 units in the nine months ended September 30, 2021 due to the Company exceeding the targeted performance conditions contained in PVRSUs.
Schedule of Weighted Average Assumptions Of Black-Scholes Option-Pricing Model The fair value of the options granted was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted average assumptions:
2021 Grants
Risk-free interest rate0.94 %
Expected volatility29.23 %
Expected life of stock option5.9 years
Dividend yield (1)
0.82 %
Requisite service period4 years
Contractual life10 years
Weighted average fair value of options granted (per option)$28.00 
(1) In April 2020, in light of uncertainty resulting from the COVID-19 pandemic, we suspended future, undeclared dividends. On May 7, 2021 and September 9, 2021, the Company's board of directors declared a quarterly cash dividend of $0.225 per share of common stock.