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Share-Based Compensation and Capital Stock (Tables)
 9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expenses The components of the Company’s share-based compensation expense for the three and nine months ended September 30, 2023 and 2022 were as follows:
Three Months Ended September 30,
Nine Months Ended September 30,
(in thousands)20232022
2023
2022
Stock options$1,422 $1,216 $4,562 $3,445 
Restricted stock awards3,305 3,763 10,362 10,364 
Performance vested restricted stock units5,261 4,887 17,041 13,051 
Total share-based compensation expense$9,988 $9,866 $31,965 $26,860 
Schedule of Stock-Based Award Activity
A summary of the share-based award activity during the nine months ended September 30, 2023 is 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, 20231,010,647 $94.97 399,099 $128.47 437,180 $140.05 
Granted88,733 123.62 64,216 123.95 109,786 127.82 
Performance-Based Leveraging (1)
— — — — 64,717 138.51 
Exercised/Vested(126,556)57.04 (85,551)94.82 (119,751)145.41 
Expired— — — — — — 
Forfeited(8,660)126.49 (10,370)116.26 (12,365)134.36 
Outstanding at September 30, 2023964,164 $102.30 5.9367,394 $135.87 479,567 $136.11 
Stock options exercisable at September 30, 2023581,426 $90.42 4.4
(1) Any revisions to the outstanding PVRSUs during the nine months ended September 30, 2023 is based on the Company's performance relative to the targeted performance conditions in the respective PVRSUs.
Schedule of Weighted Average Assumptions of Black-Scholes Option-Pricing Model The fair value of the options granted during the nine months ended September 30, 2023 was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted average assumptions:
Risk-free interest rate4.10 %
Expected volatility30.90 %
Expected life of the stock option6.0 years
Dividend yield0.9 %
Requisite service period4 years
Contractual life10 years
Weighted average fair value of the stock options granted (per stock option)$42.59