Equity Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Weighted Average Assumptions Used to Estimate Fair Value of Stock Options

The fair value of stock options was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions used for grants:

	2023			2022			2021
Stock price	$	216.31		$	245.17		$	329.71
Risk-free interest rates	4.06		%	3.50		%	1.22		%
Expected lives	6 years			6 years			6 years
Volatility	36.00		%	27.98		%	27.00		%
Dividend yield	3.30		%	3.06		%	2.90		%

Summary of Stock Options Activity

A summary of the status of the Company’s stock option plans as of December 31, 2023, 2022, and 2021 and changes during the years ended on those dates is presented below:

	2023			2022			2021
	Shares	Weighted- average exercise price		Shares	Weighted- average exercise price		Shares	Weighted- average exercise price
Outstanding at beginning of year	487,446	$	279.46	463,863	$	284.82	613,109	$	255.86
Granted	49,908	216.31		111,757	245.17		99,479	329.71
Exercised	—	—		(76,246)	245.43		(248,725)	231.37
Forfeited and canceled	(6,542)	280.21		(11,928)	281.19		—	—
Outstanding at end of year	530,812	$	273.51	487,446	$	279.46	463,863	$	284.82
Options exercisable at year end	417,739	$	282.30	293,377	$	285.76	274,244	$	270.11

Summary of Restricted Stock Activity

The following table summarizes information about restricted stock outstanding as of December 31, 2023, 2022 and 2021 and changes during the years ended:

	2023			2022			2021
	Shares	Weighted- average grant price		Shares	Weighted- average grant price		Shares	Weighted- average grant price
Unvested at beginning of year	182,915	$	222.90	159,401	$	251.03	132,603	$	214.34
Granted	2,315	220.40		72,838	215.73		50,349	337.52
Vested	(37,075)	247.07		(44,945)	306.25		(22,387)	229.90
Forfeited and canceled	(46,454)	259.71		(4,379)	272.12		(1,164)	219.30
Unvested at end of year	101,701	$	197.22	182,915	$	222.90	159,401	$	251.03

Summary of Long Term Incentive Plan - Z Units

The following table summarizes information about the LTIP Units outstanding as of December 31, 2023:

	Long-Term Incentive Plan - LTIP Units
	Total Vested Units	Total Unvested Units	Total Outstanding Units	Weighted- average Grant-date Fair Value		Weighted- average Remaining Contractual Life (years)
Balance, December 31, 2020	106,137	—	106,137	$	84.47	3.6
Granted	—	—	—
Vested	—	—	—
Converted	—	—	—
Cancelled	—	—	—
Balance, December 31, 2021	106,137	—	106,137	$	84.47	2.6
Granted	—	—	—
Vested	—	—	—
Converted	—	—	—
Cancelled	—	—	—
Balance, December 31, 2022	106,137	—	106,137	$	84.47	1.6
Granted	—	—	—
Vested	—	—	—
Converted	(8,500)	—	(8,500)
Cancelled	—	—	—
Balance, December 31, 2023	97,637	—	97,637	$	86.16	1.0