Equity-Based Compensation, Profit Sharing and Deferred Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Summary of Equity-Based Compensation Plans with Grants Outstanding [Table Text Block]

During 2020, we issued 43 Options and 4 RSUs under the following equity-based compensation plans:

	2010 Plan	2014 Plan	2018 Plan
Options Granted
Options (4)	4	17	1
Performance-based Options (5)	4	17	—
Total Options Granted	8	34	1
RSUs Granted
RSUs (6)	—	—	2
Performance-based RSUs (7)	—	—	2
Total RSUs Granted	—	—	4

(4) Options granted vest over four years in 25% increments beginning on either December 31, 2022 or December 31, 2023, based on the date of grant. Vesting for the Options is contingent solely upon continued employment or continued service as a Director.

(5)     Options granted vest over four years in 25% increments beginning on either December 31, 2022 or December 31, 2023, based on the date of grant. Vesting for the performance-based Options is contingent upon both continued employment or continued service as a Director and our return on capital performance during the three year periods beginning 2020 or 2021, based on the grant's vesting period.

(6) RSUs granted predominately vest over three years in 33% increments beginning on December 31, 2025. Vesting for the RSUs is contingent solely upon continued employment.

(7) RSUs granted predominately vest over three years in 33% increments beginning on December 31, 2025. Vesting for the RSUs is contingent upon continued employment and our return on capital performance during the three year period beginning 2020.

Summary of Equity-Based Compensation Plans with Grants Outstanding

The following table provides a summary of each of our equity-based compensation plans with grants outstanding at December 31, 2020. Each of the following plans was approved by our shareholders:

Equity-Based Compensation Plans	Shares Authorized	Options/RSUs Outstanding	Shares Available to Issue
2010 Equity Incentive Plan (1)	700	88	—
2014 Equity Incentive Plan (2)	950	404	126
2018 Equity Incentive Plan (3)	275	120	155

(1)The 2010 Equity Incentive Plan (the “2010 Plan”) authorizes us to issue Options and RSUs. There were 74 Options and 14 RSUs outstanding as of December 31, 2020. Shares can no longer be granted from this plan.

(2)The 2014 Equity Incentive Plan (the “2014 Plan”) authorizes us to issue Options only.

(3)The 2018 Equity Incentive Plan (the "2018 Plan") authorizes us to issue Options and RSUs. Of the 275 aggregate shares authorized to issue, all may be granted in the form of Options and up to 40 may be granted in the form of RSUs. There were 116 Options and 4 RSUs outstanding as of December 31, 2020. Of the 155 shares available to issue, 36 may be granted in the form of RSUs.

Equity-Based Compensation Plans

The following table provides additional information relative to our equity-based compensation plans for the year ended December 31, 2020:

	Shares	Weighted Avg. Per Share Exercise Price		Weighted Avg. Remaining Contract Life (years)	Aggregate Intrinsic Value
Stock Options
Outstanding at December 31, 2019	749	$	2,030.42
Granted	43	3,126.53
Exercised	(159)	1,136.44
Forfeited	(40)	2,830.82
Outstanding at December 31, 2020	593	$	2,295.11	6.1	$	1,059,114
Exercisable at December 31, 2020	303	$	1,696.32	4.6	$	722,610
RSUs
Outstanding at December 31, 2019	15
Granted	4
Vested	—
Forfeited	(1)
Outstanding at December 31, 2020	18				$	71,797
Vested, but not issued at December 31, 2020	—				$	—

Black-Scholes Option-Pricing Model Assumptions

The fair value of the Options granted during 2020, 2019 and 2018 was estimated on the grant date using the Pricing Model, based on the following assumptions:  

	2020			2019			2018
Estimated option life (years)	5.36			5.55			5.06
Risk free interest rate (range)	0.22%-1.94%			1.51%-2.73%			2.19%-3.13%
Expected volatility (range)	18.78%-32.48%			19.17%-22.01%			16.57%-20.05%
Expected dividend rate	—		%	—		%	—		%
Weighted average grant-date fair value per share of options granted	$	737.19		$	661.01		$	687.81

Exercised Option Proceeds

Information with respect to the vested RSUs and exercised Options is as follows:

	Year Ended December 31,
	2020		2019		2018
Aggregate exercise proceeds	$	180,866	$	274,028	$	174,110
Aggregate intrinsic value on exercise dates	$	432,772	$	593,162	$	355,318