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INCENTIVE PLANS (Tables)

12 Months Ended

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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