Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Deferred Compensation Arrangements [Abstract]

Share-based Payment Arrangement, Expensed and Capitalized, Amount

The following is a summary of stock-based compensation expense, net of forfeitures, included in “General and administrative expenses” in the Consolidated Statements of Income ($ in thousands):

	December 31, 2020		December 31, 2019		December 31, 2018
Non-cash stock-based compensation expense	$	3,061	$	3,646	$	2,490

Schedule of Stock Option Valuation Assumptions [Table Text Block]

The fair value of each grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

	December 31, 2020	December 31, 2019	December 31, 2018
Dividend yield	5.1%	5.5%	6.5%
Expected volatility	17.1%	18.2%	19.4%
Expected lives	2.9 years	2.7 years	2.9 years
Risk-free interest rate	1.30%	2.39%	2.39%

Schedule of Stock Option Activity [Table Text Block]

The following tables summarize our outstanding stock options, after giving effect to modifications of 83,334 options in November 2019 as, in substance, the forfeiture of old and issuance of new options concurrent with an employee’s retirement:

			Weighted Average
	Number	Weighted Average	Remaining
	of Shares	Exercise Price	Contractual Life (Years)
Outstanding December 31, 2017	859,182	$70.11
Options granted under 2012 Plan	560,000	$64.33
Options exercised under 2005 Plan	(6,668)	$72.11
Options exercised under 2012 Plan	(462,167)	$65.03
Options canceled under 2012 Plan	(30,001)	$66.73
Outstanding December 31, 2018	920,346	$69.24
Options granted under 2012 Plan	685,334	$79.08
Options exercised under 2012 Plan	(501,664)	$71.52
Options forfeited under 2012 Plan	(100,002)	$73.89
Outstanding December 31, 2019	1,004,014	$74.35
Options granted under 2012 Plan	319,669	$90.79
Options granted under 2019 Plan	272,331	$89.76
Options exercised under 2012 Plan	(512,509)	$72.98
Options forfeited under 2012 Plan	(16,669)	$81.37
Options forfeited under 2019 Plan	(32,998)	$90.79
Options outstanding, December 31, 2020	1,033,838		3.39
Exercisable at December 31, 2020	601,994		3.08

				Remaining
Grant	Number	Exercise		Contractual
Date	of Shares	Price		Life in Years
2/22/2016	20,000	$	60.52	0.15
2/22/2017	55,331	$	74.78	1.15
2/20/2018	88,170	$	64.33	2.14
2/21/2019	313,504	$	79.96	3.14
2/21/2020	549,333	$	90.79	4.15
5/1/2020	7,500	$	53.76	4.33
Options outstanding, December 31, 2020	1,033,838

Schedule of Nonvested Share Activity [Table Text Block]

The following table summarizes our outstanding non-vested stock options:

	Number of Shares	Weighted Average Grant Date Fair Value
Non-vested December 31, 2019	473,851	$5.64
Options granted under 2012 Plan	319,669	$5.52
Options granted under 2019 Plan	272,331	$5.63
Options vested under 2012 Plan	(495,675)	$5.42
Options vested under 2019 Plan	(88,665)	$5.63
Non-vested options forfeited under 2012 Plan	(16,669)	$6.12
Non-vested options forfeited under 2019 Plan	(32,998)	$5.55
Non-vested December 31, 2020	431,844	$5.79