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

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

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, 2021. 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)	700,000	76,903	—
2014 Equity Incentive Plan (2)	950,000	354,876	110,942
2018 Equity Incentive Plan (3)	275,000	119,480	155,270

(1)The 2010 Equity Incentive Plan (the “2010 Plan”) authorizes us to issue Options and RSUs. There were 63,869 Options and 13,034 RSUs outstanding as of December 31, 2021. 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 275,000 aggregate shares authorized to issue, all may be granted in the form of Options and up to 40,000 may be granted in the form of RSUs. There were 115,950 Options and 3,530 RSUs outstanding as of December 31, 2021. Of the 155,270 shares available to issue, 36,470 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, 2021:

	Shares	Weighted Avg. Per Share Exercise Price		Weighted Avg. Remaining Contract Life (years)	Aggregate Intrinsic Value
Stock Options
Outstanding at December 31, 2020	593,426	$	2,295.11
Granted	18,912	4,719.80
Exercised	(73,749)	1,933.30
Forfeited	(3,894)	3,140.57
Outstanding at December 31, 2021	534,695	$	2,424.62	5.3	$	1,863,010
Exercisable at December 31, 2021	334,634	$	1,993.07	4.3	$	1,310,360
RSUs
Outstanding at December 31, 2020	17,598
Granted	50
Vested	(278)
Forfeited	(806)
Outstanding at December 31, 2021	16,564				$	97,875
Vested, but not issued at December 31, 2021	—				$	—

Black-Scholes Option-Pricing Model Assumptions

The fair value of the Options granted during 2021, 2020 and 2019 was estimated on the grant date using the Pricing Model, based on the following assumptions:  

	2021			2020			2019
Estimated option life (years)	5.31			5.36			5.55
Risk free interest rate (range)	0.30%-1.55%			0.22%-1.94%			1.51%-2.73%
Expected volatility (range)	24.46%-30.80%			18.78%-32.48%			19.17%-22.01%
Expected dividend rate	—		%	—		%	—		%
Weighted average grant-date fair value per share of options granted	$	1,235.91		$	737.19		$	661.01

Exercised Option Proceeds

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

	Year Ended December 31,
	2021		2020		2019
Aggregate exercise proceeds	$	142,370	$	180,866	$	274,028
Aggregate intrinsic value on exercise dates	$	219,219	$	432,772	$	593,162