Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

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, 2021 is as follows (in thousands, except per share amounts):

	Shares	Weighted Average Grant Date Fair Value/Share
RESTRICTED STOCK AT DECEMBER 31, 2020	222	$	124.77
Shares granted	77	166.46
Shares vested	(103)	122.76
Shares forfeited	(12)	139.98
RESTRICTED STOCK AT DECEMBER 31, 2021	184	$	141.99

Summary of Stock Appreciation Rights

Activity related to SARs for the year ended December 31, 2021 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, 2020	1,383	$	119.37
Granted	188	163.89
Exercised	(636)	112.50
Forfeited	(26)	141.69
Canceled	(2)	110.15
OUTSTANDING AT DECEMBER 31, 2021	907	$	132.78	7.1 years	$	68,458
EXERCISABLE AT DECEMBER 31, 2021	540	$	118.30	6.0 years	$	48,567

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 2021, 2020 and 2019:

Grant Date	Expected Dividend Yield		Expected Volatility		Risk Free Interest Rate		Expected Term	Weighted Avg. Grant Date Fair Value of 1 SAR
2021	2.4	%	26.5	%	0.6	%	5.5 years	$	29.58
2020	2.5	%	23.5	%	1.3	%	5.5 years	$	24.52
2019	2.7	%	22.7	%	1.8	%	5.5 years	$	21.25

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

Grant Date	Shares Outstanding at 12/31/2021	Fair Value		Performance Period	Payout Range
2020	46,374	$	151.78	Jan 2020-Dec 2022	0-200% + up to a multiple of 150x
2018	40,623	$	98.80	Jan 2019-Dec 2021	0-200% + up to a multiple of 120x

The following table summarizes the related assumptions used to determine the fair values of the performance share awards with a market condition granted during February 2021:

Grant Date	Stock Price on Measurement Date	Dividend Yield	Expected Volatility	Risk Free Interest Rate	Expected Term	Weighted Avg. Grant Date Fair Value
February 2021	$163.26	2.4%	40.6%	0.2%	3 years	$198.89

The Company expenses these awards on a straight-line basis over the requisite service period and including an assessment of the performance achieved to date. The weighted average fair value per share was $151.92 for the awards granted in 2021.

Grant Date	Fair Value	Performance Period	Payout Range
February 2021	$151.92	Jan 2021 - Dec 2023	0-200%