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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Weighted Average Option Fair Values and Assumptions
Weighted average option fair values and assumptions for the periods specified are as follows:

 Years Ended December 31,
 202020192018
Weighted average fair value of grants$34.22$35.15$38.13
Dividend yield1.15%1.18%1.07%
Volatility22.04%24.77%28.46%
Risk-free interest rate
1.39% - 1.66%
2.53% - 3.04%
2.03% - 3.17%
Expected life (in years)5.805.875.83
Schedule of Stock Option Activity
A summary of the Company’s stock option activity as of December 31, 2020, and changes during the year ended December 31, 2020 is presented as follows:

Stock OptionsSharesWeighted
Average
Price		Weighted-Average
Remaining
Contractual Term		Aggregate
Intrinsic
Value
Outstanding at January 1, 20201,386,539 $103.58 6.95$94,764,140 
Granted353,130 172.93 
Exercised(511,960)87.09 
Forfeited/Expired(263,983)147.68 
Outstanding at December 31, 2020963,726 $125.70 6.94$70,829,529 
Vested and expected to vest at December 31, 2020919,724 $124.01 6.86$69,151,533 
Exercisable at December 31, 2020424,926 $92.26 5.24$45,447,769 
Schedule of Compensation Cost for Stock Options
Total compensation cost for stock options is recorded in the Consolidated Statements of Operations as follows:

 Years Ended December 31,
 202020192018
 (In thousands)
Cost of goods sold$501 $445 $470 
Selling, general and administrative expenses7,567 8,705 8,313 
Total expense before income taxes8,068 9,150 8,783 
Income tax benefit(907)(1,209)(1,616)
Total expense after income taxes$7,161 $7,941 $7,167 
Schedule of Restricted Stock Activity A summary of the Company’s restricted stock activity as of December 31, 2020, and changes during the year ending December 31, 2020 is as follows:
Restricted StockSharesWeighted-Average
Grant Date Fair
Value
Unvested at January 1, 2020130,248 $124.61 
Granted39,065 168.42 
Vested(39,683)95.25 
Forfeited(18,330)142.03 
Unvested at December 31, 2020111,300 $147.13 
Schedule of Compensation Cost for Restricted Stock
Total compensation cost for restricted stock is recorded in the Consolidated Statements of Operations as follows:

 Years Ended December 31,
 202020192018
 (In thousands)
Cost of goods sold$318 $261 $367 
Selling, general and administrative expenses3,857 4,527 4,201 
Total expense before income taxes4,175 4,788 4,568 
Income tax benefit(876)(920)(825)
Total expense after income taxes$3,299 $3,868 $3,743 
Schedule of Unvested Cash-settled Restricted Stock Activity A summary of the Company’s unvested cash-settled restricted stock activity as of December 31, 2020, and changes during the year ending December 31, 2020 is as follows:
Cash-Settled Restricted StockSharesWeighted-Average
Fair Value
Unvested at January 1, 202074,560 $172.08 
Granted20,780 173.30 
Vested(25,405)173.26 
Forfeited(5,995)199.20 
Unvested at December 31, 202063,940 $199.20 
Schedule of Compensation Cost for Unvested Cash-settled Restricted Stock
Total compensation cost for cash-settled restricted stock is recorded in the Consolidated Statements of Operations as follows:

Years Ended December 31,
202020192018
 (In thousands)
Cost of goods sold$882 $1,230 $809 
Selling, general and administrative expenses3,677 4,118 2,391 
Total expense before income taxes4,559 5,348 3,200 
Income tax benefit(427)(509)(337)
Total expense after income taxes$4,132 $4,839 $2,863 
Schedule of Weighted Average Performance Share Units Fair Values and Assumptions
Weighted average performance share unit fair values and assumptions for the period specified are as follows:

Years Ended December 31,
 202020192018
Weighted average fair value of grants$224.14$207.26$216.59
Dividend yield—%—%—%
Volatility19.50%19.11%17.42%
Risk-free interest rate1.30%2.49%2.40%
Expected life (in years)2.942.832.85
Schedule of Performance Shares Units Activity
A summary of the Company’s performance share unit activity as of December 31, 2020, and changes during the year ending December 31, 2020, is as follows:

Performance Share UnitsSharesWeighted-Average
Grant Date Fair
Value
Unvested at January 1, 2020100,575 $178.97 
Granted42,690 224.14 
Vested(24,395)220.14 
Forfeited(60,175)213.89 
Unvested at December 31, 202058,695 $218.16 
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total compensation cost for performance share units is as follows:

Years Ended December 31,
202020192018
(In thousands)
Cost of goods sold$— $— $— 
Selling, general and administrative expenses2,573 8,383 8,203 
Total expense before income taxes2,573 8,383 8,203 
Income tax benefit(217)(641)(1,586)
Total expense after income taxes$2,356 $7,742 $6,617