v3.26.1
Share-Based Payments (Tables)
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Nonvested Restricted Stock Shares Activity
The following is a summary of award activity for the three months ended March 31, 2026:
Cash-settled Awards
(Units)
Stock-settled Awards
(Shares)
Weighted-Average
Grant-Date
Fair Value
Nonvested, January 1, 2026
— 145,889 $73.60 
Granted13,400 2,500 86.69 
Vested— (15,133)74.42 
Forfeited— — — 
Nonvested, March 31, 2026
13,400 133,256 $74.94 
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The grant-date fair value of stock performance awards granted during the three months ended March 31, 2026 and 2025 was determined using a Monte Carlo fair value simulation model incorporating the following assumptions:
20262025
Risk-free interest rate3.49 %4.28 %
Expected term (in years)33
Expected volatility27.70 %30.30 %
Dividend yield2.90 %2.50 %
Schedule of Share-based Compensation Arrangements by Share-based Payment Award
The following is a summary of performance award activity for the three months ended March 31, 2026 (unit/share amounts reflect awards at target):
 
Cash-settled Awards
(Units)
Stock-settled Awards
(Shares)
Weighted-Average
Grant-Date
Fair Value
Nonvested, January 1, 2026
— 152,800 $75.52 
Granted42,800 11,200 77.57 
Vested— (52,400)61.61 
Forfeited— — — 
Nonvested, March 31, 2026
42,800 111,600 $80.96