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Accounting for Stock Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Recognized and Unrecognized Stock-based Compensation Expense

The total recognized and unrecognized stock-based compensation expense is as follows:

Stock-Based Compensation Expense

 

2022

 

 

2021

 

 

2020

 

 

Unrecognized Stock-Based Compensation Expense at December 31, 2022

 

 

Remaining Weighted Average Vesting Period

 

RSUs

 

$

5,551

 

 

$

4,594

 

 

$

3,137

 

 

$

8,724

 

 

 

1.80

 

PSUs

 

 

954

 

 

 

5,535

 

 

 

3,361

 

 

 

6,745

 

 

 

1.97

 

Restricted Shares

 

 

888

 

 

 

1,198

 

 

 

1,495

 

 

 

419

 

 

 

0.42

 

SARs

 

 

(794

)

 

 

2,721

 

 

 

5,494

 

 

 

-

 

 

 

-

 

Stock options

 

 

-

 

 

 

482

 

 

 

836

 

 

 

-

 

 

 

-

 

Total Stock-Based Compensation

 

$

6,599

 

 

$

14,530

 

 

$

14,323

 

 

$

15,888

 

 

 

1.84

 
Summary of Performance Stock Unit Activity

The following table summarizes performance stock unit activity during the years ended December 31, 2022, 2021 and 2020:

Unvested Performance Stock Units

 

Relative TSR Target
Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

 

ROIC Target
Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

 

Adjusted EBITDA Target Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

 

Total

 

Outstanding at December 31, 2019

 

 

95,041

 

 

$

61.77

 

 

 

95,039

 

 

$

42.78

 

 

 

—

 

 

$

—

 

 

 

190,080

 

Granted

 

 

77,967

 

 

 

49.25

 

 

 

77,967

 

 

 

33.72

 

 

 

—

 

 

 

—

 

 

 

155,934

 

Vested

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Forfeited

 

 

(15,090

)

 

 

56.84

 

 

 

(15,090

)

 

 

39.96

 

 

 

—

 

 

 

—

 

 

 

(30,180

)

Outstanding at December 31, 2020

 

 

157,918

 

 

$

56.06

 

 

 

157,916

 

 

$

38.58

 

 

 

—

 

 

$

—

 

 

 

315,834

 

Granted

 

 

20,626

 

 

 

118.08

 

 

 

40,580

 

 

 

78.98

 

 

 

39,930

 

 

 

79.49

 

 

 

101,136

 

Performance Adjustment

 

 

30,828

 

 

 

69.18

 

 

 

(30,830

)

 

 

44.92

 

 

 

—

 

 

 

—

 

 

 

(2

)

Vested

 

 

(61,656

)

 

 

69.18

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(61,656

)

Forfeited

 

 

(16,148

)

 

 

61.10

 

 

 

(17,374

)

 

 

44.32

 

 

 

(2,454

)

 

 

79.49

 

 

 

(35,976

)

Outstanding at December 31, 2021

 

 

131,568

 

 

$

62.09

 

 

 

150,292

 

 

$

47.52

 

 

 

37,476

 

 

$

79.49

 

 

 

319,336

 

Granted

 

 

21,324

 

 

 

103.31

 

 

 

42,640

 

 

 

68.63

 

 

 

42,640

 

 

 

68.63

 

 

 

106,604

 

Performance Adjustment

 

 

45,004

 

 

 

57.46

 

 

 

(2,258

)

 

 

41.61

 

 

 

—

 

 

 

—

 

 

 

42,746

 

Vested

 

 

(90,371

)

 

 

57.46

 

 

 

(43,106

)

 

 

41.61

 

 

 

—

 

 

 

—

 

 

 

(133,477

)

Forfeited

 

 

(4,724

)

 

 

68.67

 

 

 

(6,493

)

 

 

56.87

 

 

 

(3,543

)

 

 

75.10

 

 

 

(14,760

)

Outstanding at December 31, 2022

 

 

102,801

 

 

$

65.20

 

 

 

141,075

 

 

$

55.18

 

 

 

76,573

 

 

$

73.66

 

 

 

320,449

 
Restricted Stock Activity

The following table summarizes restricted stock activity during the years ended December 31, 2022, 2021 and 2020:

Unvested Restricted Shares

 

Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

Outstanding at December 31, 2019

 

 

34,920

 

 

$

38.31

 

Granted

 

 

32,406

 

 

 

39.96

 

Vested

 

 

(32,420

)

 

 

38.33

 

Forfeited

 

 

—

 

 

 

—

 

Outstanding at December 31, 2020

 

 

34,906

 

 

$

39.82

 

Granted

 

 

13,742

 

 

 

70.18

 

Vested

 

 

(37,272

)

 

 

41.70

 

Forfeited

 

 

—

 

 

 

—

 

Outstanding at December 31, 2021

 

 

11,376

 

 

$

70.33

 

Granted

 

 

13,600

 

 

 

73.54

 

Vested

 

 

(11,376

)

 

 

70.33

 

Forfeited

 

 

—

 

 

 

—

 

Outstanding at December 31, 2022

 

 

13,600

 

 

$

73.54

 
SARs Activity

The following table summarizes SARs activity during the years ended December 31, 2022, 2021 and 2020:

Stock Appreciation Rights

 

Shares

 

 

Weighted-Average
Exercise Price

 

 

Weighted-Average
Remaining
Contractual Term

 

 

Aggregate
Intrinsic Value

 

Outstanding at December 31, 2019

 

 

554,250

 

 

$

39.41

 

 

 

2.84

 

 

$

2,981

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Exercised

 

 

(342,150

)

 

 

38.22

 

 

 

 

 

 

 

Forfeited

 

 

(40,500

)

 

 

44.39

 

 

 

 

 

 

 

Outstanding at December 31, 2020

 

 

171,600

 

 

$

40.60

 

 

 

2.44

 

 

$

4,224

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Exercised

 

 

(116,000

)

 

 

40.34

 

 

 

 

 

 

 

Forfeited

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

55,600

 

 

$

41.15

 

 

 

1.28

 

 

$

2,544

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Exercised

 

 

(40,850

)

 

 

42.27

 

 

 

 

 

 

 

Forfeited

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

14,750

 

 

$

38.05

 

 

 

1.15

 

 

$

402

 

Exercisable at December 31, 2022

 

 

14,750

 

 

$

38.05

 

 

 

1.15

 

 

$

402

 
Summary of Stock Option Activity

The following table summarizes stock option activity during the years ended December 31, 2022, 2021 and 2020:

Options

 

Shares

 

 

Weighted-Average
Exercise Price

 

 

Weighted-Average
Remaining
Contractual Term

 

 

Aggregate
Intrinsic Value

 

Outstanding at December 31, 2019

 

 

869,000

 

 

$

37.87

 

 

 

3.51

 

 

$

5,172

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Exercised

 

 

(434,250

)

 

 

38.12

 

 

 

 

 

 

 

Forfeited

 

 

(6,750

)

 

 

38.05

 

 

 

 

 

 

 

Outstanding at December 31, 2020

 

 

428,000

 

 

$

37.61

 

 

 

3.20

 

 

$

11,815

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Exercised

 

 

(215,250

)

 

 

38.46

 

 

 

 

 

 

 

Forfeited

 

 

(6,000

)

 

 

38.05

 

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

206,750

 

 

$

36.72

 

 

 

2.60

 

 

$

10,375

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Exercised

 

 

(44,116

)

 

 

37.87

 

 

 

 

 

 

 

Forfeited

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

162,634

 

 

$

36.41

 

 

 

2.68

 

 

$

8,212

 

Exercisable at December 31, 2022

 

 

162,634

 

 

$

36.41

 

 

 

2.68

 

 

$

8,212

 
RSU  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Restricted Stock Activity

The following table summarizes restricted stock unit activity during the years ended December 31, 2022, 2021 and 2020:

Unvested Restricted Stock Units

 

Time Vesting
Shares

 

 

Weighted-Average
Grant Date
Fair Value

 

Outstanding at December 31, 2019

 

 

141,741

 

 

$

42.16

 

Granted

 

 

132,864

 

 

 

34.41

 

Vested

 

 

(50,953

)

 

 

42.13

 

Forfeited

 

 

(14,747

)

 

 

39.16

 

Outstanding at December 31, 2020

 

 

208,905

 

 

$

37.26

 

Granted

 

 

93,539

 

 

 

79.79

 

Vested

 

 

(88,296

)

 

 

38.49

 

Forfeited

 

 

(20,522

)

 

 

48.76

 

Outstanding at December 31, 2021

 

 

193,626

 

 

$

56.02

 

Granted

 

 

117,507

 

 

 

66.86

 

Vested

 

 

(95,692

)

 

 

49.85

 

Forfeited

 

 

(13,863

)

 

 

70.52

 

Outstanding at December 31, 2022

 

 

201,578

 

 

$

64.27