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INCENTIVE PLANS (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Activity For Nonvested Performance Share Units | The fair value of performance shares is estimated as of the date of grant using a Monte Carlo simulation model. The following table summarizes the activity for nonvested performance share units during the year ended December 31, 2024:
| Number of Shares | Weighted-Average Grant Date Fair Value
Performance Shares |  |
Nonvested at January 1, 2024 | 227,472 | $ | 180.13 |
Granted | 110,240 | 247.00 |
Vested | (105,541) | 185.31 |
Canceled/forfeited | (8,625) | 207.00 |
Nonvested at December 31, 2024 | 223,546 | $ | 209.62 |
Schedule of Aggregate Value of Performance Shares | The aggregate values of distributed performance shares for the years ended December 31 are as follows:
in millions | 2024 | 2023 | 2022
Aggregate value of distributed performance shares | $ | 45.3 |  | $ | 24.8 |  | $ | 33.4 |
Schedule of Restricted Stock Units | The following table summarizes the activity for nonvested restricted share units during the year ended December 31, 2024:
| Number of Shares | Weighted-Average Grant Date Fair Value
Restricted Stock Units |  |
Nonvested at January 1, 2024 | 236,673 | $ | 175.29 |
Granted | 71,087 | 247.00 |
Vested | (61,320) | 166.42 |
Canceled/forfeited | (10,864) | 200.35 |
Nonvested at December 31, 2024 | 235,576 | $ | 198.08 |
Schedule of Aggregate Values for Distributed Restricted Share Awards | The aggregate values of distributed restricted shares for the years ended December 31 are as follows:
in millions | 2024 | 2023 | 2022
Aggregate value of distributed restricted shares | $ | 15.6 |  | $ | 11.1 |  | $ | 15.7 |
Schedule of Weighted-Average Fair Value and Weighted-Average Assumptions Used in Estimating Fair Value of Grants | The fair value of SOSARs is estimated as of the date of grant using the Black-Scholes option pricing model. Compensation cost for SOSARs is based on this grant date fair value and is recognized for awards that ultimately vest. The following table presents the weighted-average fair value and the weighted-average assumptions used in estimating the fair value of grants during the years ended December 31:
| 2024 | 2023 | 2022
SOSARs |  |  |
Fair value | $ | 86.32 |  | $ | 72.39 |  | $ | 60.57 |
Risk-free interest rate | 1.94 | % | 3.90 | % | 2.02 | %
Dividend yield | 0.84 | % | 0.79 | % | 0.77 | %
Volatility | 28.81 | % | 28.88 | % | 26.68 | %
Expected term (years) | 9.0 | 9.0 | 9.0
Schedule of Our SOSAR Activity | A summary of our SOSAR activity as of December 31, 2024 and changes during the year are presented below:
| Number of Shares | Weighted-Average Exercise Price | Weighted-Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value (in millions)
SOSARs |  |  |  |
Outstanding at January 1, 2024 | 533,457 | $ | 134.35 |  |  |
Granted | 60,730 | 253.43 |  |  |
Exercised | (168,420) | 106.43 |  |  |
Forfeited or expired | 0 | 0.00 |  |  |
Outstanding at December 31, 2024 | 425,767 | $ | 162.38 |  | 5.83 | $ | 40.9 |
Exercisable at December 31, 2024 | 303,269 | $ | 140.10 |  | 4.76 | $ | 35.9 |
Schedule of Aggregate Intrinsic Values of Options Exercised | The aggregate intrinsic values of SOSARs exercised for the years ended December 31 are as follows:
in millions | 2024 | 2023 | 2022
Aggregate intrinsic value of SOSARs exercised | $ | 27.9 |  | $ | 25.1 |  | $ | 1.9 |
Schedule of Cash Consideration Received and Tax Benefit Realized from SOSAR Exercises and Compensation Cost Recorded | The following table presents cash received and tax benefit realized from SOSAR exercises and compensation cost recorded referable to SOSARs for the years ended December 31:
in millions | 2024 | 2023 | 2022
SOSARs |  |  |
Cash received from exercises | $ | 0.0 |  | $ | 0.0 |  | $ | 0.0 |
Tax benefit from exercises | 5.7 |  | 6.0 |  | 0.4 |
Compensation cost | 5.1 |  | 4.0 |  | 4.0 |

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