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Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Award Activity

The following table summarizes information about RSUs and restricted shares:

 

 

 

Number of
shares

 

 

Weighted average
grant date fair value

 

 

Nonvested at December 31, 2022

 

 

707

 

 

$

99.09

 

 

RSUs granted

 

 

365

 

 

$

113.28

 

 

RSUs vested

 

 

(410

)

 

$

94.54

 

 

RSUs forfeited

 

 

(20

)

 

$

105.11

 

 

Nonvested at December 31, 2023

 

 

642

 

 

$

109.78

 

Schedule of Stock Option Activity

The following table summarizes information about stock options:

 

 

 

Number of
shares

 

 

Weighted
average
exercise
price
per share

 

 

Weighted
average
remaining
contractual life

 

 

Aggregate
intrinsic
value

 

 

Outstanding at December 31, 2022

 

 

1,784

 

 

$

44.86

 

 

 

 

 

 

 

 

Options granted

 

 

 

 

$

 

 

 

 

 

 

 

 

Options exercised

 

 

(640

)

 

$

42.15

 

 

 

 

 

 

 

 

Options canceled

 

 

(9

)

 

$

35.39

 

 

 

 

 

 

 

 

Outstanding at December 31, 2023

 

 

1,135

 

 

$

46.46

 

 

 

1.66

 

 

$

91,645

 

 

Exercisable at December 31, 2023

 

 

1,135

 

 

$

46.46

 

 

 

1.66

 

 

$

91,645

 

Shared-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used

The fair value of employee stock purchase rights granted under the 2002 Plan is estimated on the date of grant using the Black-Scholes Model with the following assumptions:

 

 

 

For the years ended December 31,

 

 

 

 

2023

 

 

2022

 

 

2021

 

 

Dividend yield

 

 

1.20

%

 

 

1.30

%

 

 

1.10

%

 

Volatility

 

 

28

%

 

 

29

%

 

 

20

%

 

Risk-free interest rates

 

 

5.37

%

 

 

3.02

%

 

 

0.08

%

 

Expected life (years)

 

 

1

 

 

 

1

 

 

 

1

 

 

Weighted average fair value

 

$

31.56

 

 

$

27.07

 

 

$

28.55