Share-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2019 |
Share-Based Compensation |
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Schedule of stock option activity |
| | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | | | | 2019 | | 2018 | | 2017 | | | | | | | Weighted | | | | Weighted | | | | Weighted | | | | | | | Average | | | | Average | | | | Average | | | | | | | Exercise | | | | Exercise | | | | Exercise | | | | | Shares | | Price | | Shares | | Price | | Shares | | Price | | Outstanding at January 1, 2019 | | | 213,866 | | $ | 61.28 | | 218,689 | | $ | 52.75 | | 246,535 | | $ | 42.53 | | Granted | | | — | | | — | | 34,407 | | | 91.05 | | 33,634 | | | 91.23 | | Exercised | | | (36,978) | | | 33.26 | | (33,424) | | | 30.88 | | (59,480) | | | 33.03 | | Forfeited | | | — | | | — | | (5,806) | | | 91.35 | | (2,000) | | | 26.01 | | Outstanding at December 31, 2019 | | | 176,888 | | | 67.14 | | 213,866 | | | 61.28 | | 218,689 | | | 52.75 | | Exercisable at December 31, 2019 | | | 131,216 | | | 60.12 | | 140,115 | | | 49.41 | | 148,702 | | | 41.62 | | Weighted-average fair value of options granted during the year | | | | | $ | — | | | | $ | 28.01 | | | | $ | 35.42 | |
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Schedule of information pertaining to options outstanding |
| | | | | | | | | | | | | | | | | | | | | | | | | | | Options Outstanding | | Options Exercisable | | | | | | | | | | Weighted | | | | | | | | | | Weighted | | | | | | | | | | Average | | | | | | | | | | Average | | | | | | | | | | Remaining | | Weighted | | | | Weighted | | Remaining | | Range of | | Number | | Contractual | | Average | | Number | | Average | | Contractual | | Exercise Prices | | Outstanding | | Life | | Exercise Price | | Outstanding | | Exercise Price | | Life | | $ | 26.01 | - | $ | 40.00 | | 20,170 | | 1.7 | years | | $ | 31.56 | | 20,164 | | $ | 31.56 | | | | $ | 40.01 | - | $ | 55.00 | | 19,874 | | 2.9 | years | | $ | 41.42 | | 19,874 | | $ | 41.42 | | | | $ | 55.01 | - | $ | 70.00 | | 74,609 | | 5.1 | years | | $ | 63.61 | | 68,186 | | $ | 63.59 | | | | $ | 70.01 | - | $ | 85.00 | | — | | — | years | | $ | — | | — | | $ | — | | | | $ | 85.01 | - | $ | 91.35 | | 62,235 | | 7.6 | years | | $ | 91.12 | | 22,992 | | $ | 91.07 | | | | | | | | | | 176,888 | | 5.4 | years | | $ | 67.14 | | 131,216 | | $ | 60.12 | | 4.6 | years |
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Schedule of weighted-average assumptions used in valuing options |
| | | | | | | | | | | | Year ended December 31, | | | 2019 | | 2018 | | 2017 | Dividend yield | | — | % | | 1.46 | % | | 1.40 | % | Expected life | | — | years | | 8.5 | years | | 8.5 | years | Expected volatility | | — | % | | 28.0 | % | | 37.2 | % | Risk-free interest rate | | — | % | | 2.54 | % | | 2.43 | % |
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Summary of nonvested restricted stock |
| | | | | | | | | | | Weighted- | | | | | | Average | | | | | | Grant-Date | | Restricted Stock | | Shares | | Fair Value | | Nonvested at January 1, 2019 | | 104,419 | | $ | 62.45 | | Granted | | 8,934 | | | 73.34 | | Vested | | (40,858) | | | 70.06 | | Forfeited | | (3,045) | | | 72.01 | | Nonvested at December 31, 2019 | | 69,450 | | | 58.96 | |
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Vesting schedule of shares |
| | | | | | Shares | | 2020 | | 48,830 | | 2021 | | 3,905 | | 2022 | | 4,174 | | 2023 | | 4,553 | | 2024 | | 3,405 | | Thereafter | | 4,583 | | | | 69,450 | |
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Summary of nonvested RSUs |
| | | | | | | | | | | Weighted- | | | | | | Average | | | | | | Grant-Date | | Restricted Stock Units | | Shares | | Fair Value | | Nonvested at January 1, 2019 | | 200,540 | | $ | 85.10 | | Granted | | 159,521 | | | 68.27 | | Vested | | (31,723) | | | 89.40 | | Forfeited | | (3,737) | | | 82.18 | | Nonvested at December 31, 2019 | | 324,601 | | | 76.44 | |
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