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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Compensation Expense

The following table summarizes the compensation expense included in selling, general and administrative expenses in the Condensed Consolidated Statements of Earnings related to stock-based compensation plans:

 

 

 

Three months ended

 

 

Six months ended

 

 

 

June 30,

 

 

June 30,

 

 

June 30,

 

 

June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Service-based RSUs

 

$

691

 

 

$

738

 

 

$

1,368

 

 

$

1,425

 

Performance-based RSUs

 

 

820

 

 

 

1,066

 

 

 

2,041

 

 

 

1,559

 

Cash-settled RSUs

 

 

105

 

 

 

99

 

 

 

157

 

 

 

138

 

Total

 

$

1,616

 

 

$

1,903

 

 

$

3,566

 

 

$

3,122

 

Income tax benefit

 

 

372

 

 

 

438

 

 

 

820

 

 

 

718

 

Net expense

 

$

1,244

 

 

$

1,465

 

 

$

2,746

 

 

$

2,404

 

Summary of Unrecognized Compensation Expense related to Non-Vested RSUs

The following table summarizes the unrecognized compensation expense related to non-vested RSUs by type and the weighted-average period in which the expense is to be recognized:

 

 

 

Unrecognized

 

 

 

 

 

 

Compensation

 

 

Weighted-

 

 

 

Expense at

 

 

Average

 

 

 

June 30, 2022

 

 

Period (years)

 

Service-based RSUs

 

$

2,711

 

 

 

1.44

 

Performance-based RSUs

 

 

5,117

 

 

 

1.89

 

Total

 

$

7,828

 

 

 

1.73

 

Summary of Status of Plans

The following table summarizes the status of these plans as of June 30, 2022:

 

 

 

2018 Plan

 

 

2014 Plan

 

 

2009 Plan

 

 

2004 Plan

 

 

Directors'
Plan

 

Awards originally available

 

 

2,500,000

 

 

 

1,500,000

 

 

 

3,400,000

 

 

 

6,500,000

 

 

N/A

 

Maximum potential awards outstanding

 

 

716,826

 

 

 

35,100

 

 

 

45,200

 

 

 

14,545

 

 

 

4,722

 

RSUs and cash settled awards vested and released

 

 

117,828

 

 

 

 

 

 

 

 

 

 

 

 

 

Awards available for grant

 

 

1,665,346

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Service-Based Restricted Stock Units

The following table summarizes the service-based RSU activity for the three months ended June 30, 2022:

 

 

 

Units

 

 

Weighted
Average
Grant Date
Fair Value

 

Outstanding at December 31, 2021

 

 

283,216

 

 

$

24.91

 

Granted

 

 

68,124

 

 

 

33.70

 

Vested and released

 

 

(58,144

)

 

 

29.96

 

Forfeited

 

 

(7,838

)

 

 

30.35

 

Outstanding at June 30, 2022

 

 

285,358

 

 

$

25.83

 

Releasable at June 30, 2022

 

 

132,834

 

 

$

17.55

 

Summary of Performance and Market Based RSUs

The following table summarizes the performance and market-based RSU activity for the three months ended June 30, 2022:

 

 

 

Units

 

 

Weighted
Average
Grant Date
Fair Value

 

Outstanding at December 31, 2021

 

 

237,767

 

 

$

31.35

 

Granted

 

 

81,702

 

 

 

37.15

 

Attained by performance

 

 

5,136

 

 

 

29.50

 

Released

 

 

(51,848

)

 

 

30.64

 

Forfeited

 

 

(14,351

)

 

 

32.62

 

Outstanding at June 30, 2022

 

 

258,406

 

 

$

33.20

 

Releasable at June 30, 2022

 

 

 

 

$