v3.25.2
Stock-Based Compensation
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
A combined summary of activity in our active stock plans is presented in the table below. Performance stock units outstanding are presented assuming attainment of the maximum payout rate as set forth by the performance criteria. As of June 30, 2025, there were 2,351,421 shares remaining available for grant for future stock-based compensation awards.
Deferred
Stock Units
Outstanding		Non-Vested
Restricted Stock Units
Outstanding		Performance
Stock Units
Outstanding		Stock Options
Outstanding
Number
of Units		Weighted-
Average
Fair Value
at Grant		Number
of Units		Weighted-
Average
Fair Value
at Grant		Number
of Units		Weighted-
Average
Fair Value
at Grant		Number
of Shares		Weighted-
Average
Exercise
Price
Balance, January 1, 202552,779 $95.37 507,862 $113.72 230,657 $103.65 183,976 $65.11 
Granted8,760 116.47 2,185 126.04 — — — — 
Exercised/vested— — (3,322)132.18 (46,086)121.46 (91,470)65.11 
Forfeited/expired— — (2,825)111.32 — — — — 
Balance, June 30, 202561,539 98.38 503,900 113.66 184,571 99.20 92,506 65.11 
Shares issued in connection with stock compensation awards are issued from available treasury shares. If no treasury shares are available, new shares are issued from available authorized shares. Shares issued in connection with stock compensation awards along with other related information were as follows:
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
New shares issued from available authorized shares— — — — 
Shares issued from available treasury stock36,942 38,452 140,878 122,628 
Proceeds from stock option exercises$2,248 $2,294 $5,956 $5,209 
Stock-based compensation expense is recognized ratably over the requisite service period for all awards. All stock option awards currently outstanding are fully vested and the service period for such awards generally matched the vesting period in most cases. The service period for non-vested stock units does not extend past the date the participant reaches 65 years of age. Deferred stock units granted to non-employee directors generally have immediate vesting and the related expense is fully recognized on the date of grant. For performance stock units, the service period generally matches the three-year performance period specified by the award, however, the service period does not extend past the date the participant reaches 65 years of age. Expense recognized each period is dependent upon our estimate of the number of shares that will ultimately be issued.
Stock-based compensation expense or benefit and the related income tax benefit is presented in the following table. The service period for performance stock units granted each year begins on January 1 of the following year.
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Non-vested stock units$3,442 $3,100 $7,218 $6,479 
Deferred stock units1,020 934 1,020 934 
Performance stock units370 489 675 848 
Total$4,832 $4,523 $8,913 $8,261 
Income tax benefit$906 $846 $2,579 $1,991 
Unrecognized stock-based compensation expense at June 30, 2025 is presented in the table below. Unrecognized stock-based compensation expense related to performance stock units is presented assuming attainment of the maximum payout rate as set forth by the performance criteria.
Non-vested stock units$18,606 
Performance stock units12,238 
Total$30,844