Share Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of share-based compensation expense in its Consolidated Statements of Income [Table Text Block]

2020

2019

2018

Stock options

$

1,491

$

1,448

$

1,053

Non-vested stock awards and restricted stock units

5,012

3,206

2,459

Non-elective and elective 401(k) matching contribution in stock

3,112

—

—

Employee stock purchase plan

—

84

89

Director stock ownership plan

541

123

123

Performance stock units

840

—

—

Annual incentive plan (1)

—

—

—

Total share-based compensation expense

$

10,996

$

4,861

$

3,724

(1) Refer to the section entitled

Annual Incentive Plan

 below for additional information.

Schedule of Stock option activity under all plans [Table Text Block]

Weighted 

Weighted

Average

Average

Exercise 

Remaining

Aggregate

Number of

Price 

Contractual

Intrinsic

Options

(per option)

Term (years)

Value

Options outstanding as of January 1, 2020

144,412

$

137.15

Options granted

49,115

136.64

Options exercised

(83,191)

128.42

Options outstanding as of December 31, 2020

110,336

$

143.51

5.2

$

12,015

Options expected to vest after December 31, 2020

92,890

$

144.86

5.6

$

9,990

Options exercisable as of December 31, 2020

17,446

$

136.32

3.4

$

2,025

Schedule of summary of the Company's outstanding stock options [Table Text Block]

Weighted

Average

Weighted

Weighted

Number

Remaining

Average

Number

Average

Range of

of Options

Contractual

Exercise Price

of Options

Exercise Price

Exercise Prices

Outstanding

Term (years)

(per option)

Exercisable

(per option)

$

70.01

-

$

80.00

2,133

1.0

$

72.12

2,133

$

72.12

$

80.01

-

$

90.00

1,309

1.0

87.30

1,309

87.30

$

90.01

-

$

130.00

—

—

—

—

—

$

130.01

-

$

140.00

51,732

6.0

136.54

2,617

134.60

$

140.01

-

$

150.00

—

—

—

—

—

$

150.01

-

$

160.00

55,162

4.8

154.14

11,387

154.37

110,336

5.2

143.51

17,446

136.32

Schedule of Black-Scholes option pricing model and the assumptions [Table Text Block]

2020

2019

2018

2017

Number of stock options granted

49,115

51,610

35,842

42,477

Dividend yield

0.99

%

1.12

%

1.37

%

1.49

%

Expected volatility

31.57

%

26.29

%

24.73

%

25.52

%

Risk-free interest rate

0.36

%

1.52

%

2.54

%

1.67

%

Expected term (years)

4.0

4.0

4.0

4.0

Schedule of The compensation expense recorded on each award during the year [Table Text Block]

2020

2019

2018

2020 Stock option awards

$

385

$

—

$

—

2019 Stock option awards

698

665

—

2018 Stock option awards

357

364

310

2017 Stock option awards

51

369

367

Schedule of activity of nonvested restricted stock awards granted under the Company's LTIP plan [Table Text Block]

Number of

Weighted Average Grant 

Shares

Date Fair Value (per share)

Nonvested awards, December 31, 2019

64,500

$

152.67

Granted

28,244

145.63

Vested

(19,195)

148.15

Forfeited

(1,781)

150.27

Nonvested awards, December 31, 2020

71,768

$

151.17

Schedule of activity of nonvested restricted stock units granted under the Company's LTIP plan [Table Text Block]

Number of

Weighted Average Grant 

Units

Date Fair Value (per unit)

Nonvested awards, December 31, 2019

8,655

$

152.09

Granted

6,030

141.65

Vested

(1,791)

141.92

Forfeited

(2,049)

153.50

Nonvested awards, December 31, 2020

10,845

$

147.70