Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table summarizes the assumptions used in estimating the fair value of the outstanding PBRS:

Grant Date	Stock Price on Measurement Date		Expected Volatility		Risk Free Interest Rate		Expected Term	Weighted Avg. Grant Date Fair Value
2017	$	127.51	24.7	%	1.9	%	3 Years	$	119.88

Schedule of Activity Related to Employee and Non-Employee Restricted Stock

Activity related to both employee and non-employee restricted stock for the year ended December 31, 2019 is as follows (in thousands, except per share amounts):

	Shares		Weighted Average Grant Date Fair Value/Share
RESTRICTED STOCK AT DECEMBER 31, 2018	284		$	108.40
Shares granted	18		127.89
Shares vested	(84	)	105.70
Shares forfeited	(20	)	110.71
RESTRICTED STOCK AT DECEMBER 31, 2019	198		$	110.89

Summary of Stock Appreciation Rights

Activity related to SARs for the year ended December 31, 2019 is as follows (in thousands, except per share amounts):

	Number of Rights		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
OUTSTANDING AT DECEMBER 31, 2018	2,111		$	107.01
Granted	40		129.28
Exercised	(474	)	94.72
Forfeited	(93	)	115.63
Canceled	(12	)	128.32
OUTSTANDING AT DECEMBER 31, 2019	1,572		$	110.66	6.8 Years	$	58,410
EXERCISABLE AT DECEMBER 31, 2019	1,198		$	109.01	6.2 Years	$	46,497

Summary of the Weighted-Average Assumption Used in Estimating Fair Value of Stock Appreciation Rights

The following table summarizes the weighted-average assumptions used in estimating the fair value of the SARs granted during the years 2019, 2018 and 2017:

Grant Date	Expected Dividend Yield		Expected Volatility		Risk Free Interest Rate		Expected Term	Weighted Avg. Grant Date Fair Value of 1 SAR
2019	2.7	%	22.7	%	1.8	%	5.5 Years	$	21.25
2018	2.9	%	21.7	%	2.8	%	5.5 Years	$	18.23
2017	2.6	%	18.0	%	2.2	%	5.5 Years	$	17.45

Summary of Performance Shares Valuation

The following table summarizes the related assumptions used to determine the fair values of the performance share awards with a market condition granted during 2017:

Grant Date	Stock Price on Measurement Date		Dividend Yield		Expected Volatility		Risk Free Interest Rate		Expected Term	Weighted Avg. Grant Date Fair Value
2017	$	127.51	2.4	%	24.7	%	1.9	%	3 Years	$	142.89

Summary of the Attributes of the Performance Shares Granted During the Period

The following table summarizes the attributes of the performance shares granted in 2016 and 2017 and outstanding at December 31, 2019:

Grant Date	Shares Outstanding at 12/31/2019	Fair Value		Performance Period	Payout Range
2017	19,389	$	118.55	Jan 2018 - Dec 2020	0-250%
2016	23,276	$	105.48	Jan 2017 - Dec 2019	0-250%

Grant Date	Shares Outstanding at 12/31/2019	Fair Value		Performance Period	Payout Range
2018	51,062	$	98.80	Jan 2019-Dec 2021	0-200% +/- 20%