XML 47 R34.htm IDEA: XBRL DOCUMENT v3.22.0.1
Share Based Award (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of stock compensation and related tax benefits [Table Text Block] The table below summarizes compensation costs and related tax benefits (in thousands):
 Year ended December 31,
 (In thousands)202120202019
Stock compensation expense$27,341 $23,954 $21,918 
Tax benefit from stock-based compensation cost$6,391 $5,564 $4,840 
Indirect tax benefit$285 $1,203 $680 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] The table below summarizes the total time-based stock options granted, total valuation and the weighted-average assumptions (dollars in thousands, except per option amounts):
 Year ended December 31,
 202120202019
Number of time-based options granted7,910 7,190 6,265 
Grant-date fair value of options granted (in thousands)$528 $425 $424 
Weighted-average assumptions for stock option valuation:
Expected term (years)5.55.55.5
Expected stock price volatility35.0 %35.0 %28.0 %
Risk-free interest rate0.9 %0.4 %2.2 %
Expected dividend yield— %— %— %
Weighted-average grant-price per option$200.07 $181.99 $225.27 
Weighted-average grant-date fair value per option$66.78 $59.09 $67.73 
Share-based Payment Arrangement, Option, Activity [Table Text Block]
A summary of our stock option activity as of and for the year ended December 31, 2021 is as follows:
 SharesWeighted-Average Exercise Price Per ShareWeighted-Average Contractual Life (Years)Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2020817,800 $70.13 
Granted7,910 $200.07 
Exercised(162,612)$57.64 
Forfeited or expired— $— 
Outstanding at December 31, 2021663,098 $74.75 2.6$108,003 
Exercisable at December 31, 2021656,483 $73.48 2.5$107,761 
Vested and expected to vest, December 31, 2021663,098 $74.75 2.6$108,003 
Exercised Options Data [Table Text Block]
The following table presents information regarding stock option activity:
 Year ended December 31,
(In thousands)202120202019
Intrinsic value of options exercised$27,534 $32,915 $22,976 
Cash received from exercise of stock options$9,372 $13,193 $7,732 
Tax benefit from stock option exercises$5,092 $5,179 $9,653 
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] The table below summarizes our restricted stock award activity (dollars in thousands):
Year ended December 31,
(In thousands, except shares and per share amounts)202120202019
PRSU
Shares granted53,246 38,633 37,657 
Shares earned (a)
32,013 80,654 114,032 
Grant-date fair value per share$198.16 $188.34 $231.63 
Grant-date fair value$10,551 $7,276 $8,723 
Intrinsic value vested$6,777 $15,627 $26,445 
RSU
Shares granted84,388 87,830 61,856 
Grant-date fair value per share$199.13 $188.13 $227.42 
Grant-date fair value$16,804 $16,523 $14,067 
Intrinsic value vested$13,681 $12,314 $16,753 
Nonvested Restricted Stock Shares Activity [Table Text Block]
The table below provides a summary of our PRSU and RSU activity as of and for the year ended December 31, 2021:  
 Number of UnitsGrant-Date Fair Value Per ShareWeighted-Average Contractual Life (Years)Aggregate Intrinsic Value (in thousands)
Non-vested at December 31, 2020220,760 $209.77 
Change in units due to performance expectations (a)
24,601 $209.64 
Granted137,634 $198.75 
Vested(99,363)$219.77 
Forfeited(7,871)$196.01 
Non-vested and expected to vest at December 31, 2021275,761 $201.05 1.0$65,449