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Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Service-Based Options Granted The fair values for Service-Based options granted for the years ended December 31, 2022, 2021 and 2020 were estimated using the Black-Scholes option pricing model with the below weighted-average assumptions.
Year Ended December 31,
202220212020
Expected lives of options (years)9.45.49.5
Expected volatility43.3 %40.4 %62.8 %
Risk free interest rate3.7 %0.8 %0.7 %
Dividend yield rate5.0 %3.0 %5.1 %
Schedule of Stock Option Award Activity Stock option activity under our option plans, restated as applicable for stock dividends, for the years ended December 31, 2022, 2021 and 2020 were as follows.
Year Ended December 31,
202220212020
Number of
Shares
Weighted-
Average
Exercise
Price
Number of
Shares
Weighted-
Average
Exercise
Price
Number of
Shares
Weighted-
Average
Exercise
Price
Outstanding Stock Option Activity
Outstanding, beginning of year4,240,004 $23.64 4,364,161 $23.37 5,831,119 $22.22 
Granted1,846,534 28.97 15,000 53.32 432,000 23.90 
Exercised(1,402,057)21.77 (139,157)19.87 (1,898,958)19.96 
Forfeited— N/A— N/A— N/A
Cancelled— N/A— N/A— N/A
Outstanding, end of year4,684,481 $26.30 4,240,004 $23.64 4,364,161 $23.37 
Schedule of Nonvested Share Activity
Year Ended December 31,
202220212020
Number of
Shares
Weighted-
Average
Fair Value
Number of
Shares
Weighted-
Average
Fair Value
Number of
Shares
Weighted-
Average
Fair Value
Unvested Stock Option Activity
Outstanding, beginning of year432,000 $8.25 875,519 $7.76 756,268 $6.67 
Granted1,846,534 8.36 15,000 14.66 432,000 8.73 
Vested(2,134,534)8.32 (458,519)7.52 (312,749)6.44 
Forfeited— — — — — — 
Unvested, end of year144,000 $8.73 432,000 $8.25 875,519 $7.76 
Schedule of Stock Options that are Vested or Expected to Vest The following table provides data for our stock options that are vested or expected to vest as of December 31, 2022.
Exercisable or expected to vest
Number outstanding4,684,481 
Weighted-average exercise price$26.30 
Aggregate intrinsic value (in thousands)$25,949 
Weighted-average remaining contractual term (years)6.44
Exercisable
Number outstanding4,540,481 
Weighted-average exercise price$26.38 
Aggregate intrinsic value (in thousands)$24,840 
Weighted-average remaining contractual term (years)6.42
Schedule of Outstanding Exercisable Stock Options The following table summarizes information associated with outstanding and exercisable stock options at December 31, 2022.
Options OutstandingOptions Exercisable
Range of Exercise PriceNumber
Outstanding
Weighted-
Average
Remaining
Contractual
Life (in
years)
Weighted-
Average
Exercise
Price
Number
Outstanding
Weighted-
Average
Remaining
Contractual
Life (in
years)
Weighted-
Average
Exercise
Price
$15.01 -$20.00 61,172 2.30$18.43 61,172 2.30$18.43 
$20.01 -$25.00 1,834,055 3.5022.07 1,690,055 3.1721.92 
$25.01 -$30.00 2,295,720 8.8028.26 2,295,720 8.8028.26 
$30.01 -$35.00 432,000 6.5932.92 432,000 6.5932.92 
$35.01 -$40.00 46,534 9.5836.48 46,534 9.5836.48 
$50.01 -$55.00 15,000 8.5853.32 15,000 8.5853.32 
Total4,684,481 6.44$26.30 4,540,481 6.42$26.38 
Schedule of Nonvested Restricted Stock Units Activity Non-vested restricted stock awards, restated as applicable for stock dividends, at December 31, 2022, 2021 and 2020 and changes during those years were as follows:
Year Ended December 31,
202220212020
Number of
Shares
Weighted-
Average
Grant Date
Fair Value
Number of
Shares
Weighted-
Average
Grant Date
Fair Value
Number of
Shares
Weighted-
Average
Grant Date
Fair Value
Unvested, beginning of year347,552 $47.27 413,274 $35.94 371,583 $28.28 
Granted240,536 45.21 208,386 53.47 261,026 39.93 
Vested(210,157)45.88 (257,430)38.49 (217,332)27.59 
Forfeited(14,130)50.67 (16,678)49.21 (2,003)38.13 
Unvested, end of year363,801 $46.58 347,552 $47.27 413,274 $35.94 
Schedule of Performance Shares Activity and Outstanding The number of PSUs earned shall be adjusted to be proportional to the partial performance between the Threshold Goals, Target Goals and Maximum Goals. Details for each defined term above for each grant have been provided in the table below.
Threshold GoalTarget GoalMaximum Goal
Maximum Potential Expense to be Recognized *
Maximum Remaining Expense to be Recognized *
Date of AwardPerformance PeriodBase PeriodBase Period RevenuesPSUsHome Sale RevenuesPSUsHome Sale RevenuesPSUsHome Sale RevenuesFair Value per Share
Aug 20, 2020January 1, 2020 - December 31, 2022January 1, 2019 - December 31, 2019$3.205 billion145,800 $3.366 billion291,600 $3.526 billion583,200 $3.846 billion$39.79 $23,205 $— 
Jul 14, 2021January 1, 2021 - December 31, 2023January 1, 2020 - December 31, 2020$3.765 billion198,750 $3.953 billion397,500 $4.142 billion795,000 $4.518 billion$44.35 $35,255 $7,117 
_______________________
* Dollars in thousands