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Share-Based Compensation and Capital Stock (Tables)
 3 Months Ended
Mar. 31, 2022
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 months ended March 31, 2022 and 2021:
Three Months Ended March 31,
(in thousands)20222021
Stock options$1,052 $616 
Restricted stock awards3,043 2,519 
Performance vested restricted stock units3,354 1,666 
Total share-based compensation expense$7,449 $4,801 
Income tax expense$1,805 $1,157 
Summary of Change In Stock-Based Award Activity A summary of share-based award activity as of and changes during the three months ended March 31, 2022 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, 2022910,944 $83.14 236,599 $92.60 412,642 $114.70 
Granted155,774 146.68 241,833 146.68 111,585 181.91 
Performance-Based Leveraging (1)
— — — — 12,280 81.55 
Exercised/Vested(41,054)53.86 (76,229)87.90 — — 
Expired— — — — (78,370)81.15 
Forfeited— — (1,407)94.19 (194)114.36 
Outstanding at March 31, 20221,025,664 $93.96 6.2 years400,796 $126.12 457,943 $135.65 
Options exercisable at March 31, 2022549,980 $76.12 4.0 years
(1) PVRSUs outstanding have been increased by 12,280 units in the three months ended March 31, 2022 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:
2022 Grants
Risk-free interest rate1.92 %
Expected volatility29.39 %
Expected life of stock option5.9 years
Dividend yield0.65 %
Requisite service period4 years
Contractual life10 years
Weighted average fair value of options granted (per option)$43.25