XML 50 R39.htm IDEA: XBRL DOCUMENT v3.21.2

Equity Incentive Program (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based incentive plans compensation expense

Stock-based compensation is reported within selling, general and administrative expenses in the Condensed Consolidated Statements of Earnings. The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
Pre-tax stock-based compensation expense			$	6,660					$	7,371					$	25,053					$	15,591
Tax benefit			(576)						(854)						(2,357)						(1,822)
Total stock-based compensation expense, net of tax			$	6,084					$	6,517					$	22,696					$	13,769

Stock Appreciation Rights (SARs) [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The assumptions used in determining the fair value of the SARs awarded during the respective periods were as follows:

			SARs
			2021						2020
Risk-free interest rate			0.59		%				1.44		%
Dividend yield			1.62		%				1.65		%
Expected life (years)			5.5						5.5
Volatility			30.49		%				22.76		%
Grant price			$122.73						$119.86
Fair value per share at date of grant			$29.08						$22.54

Performance Shares [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The assumptions used in determining the fair value of the performance shares granted in the respective periods were as follows:

			Performance Shares
			2021						2020
Risk-free interest rate			0.19		%				1.40		%
Dividend yield			1.62		%				1.65		%
Expected life (years)			2.9						2.9
Volatility			31.90		%				23.30		%
Grant price			$122.73						$119.86
Fair value per share at date of grant			$148.29						$165.71

X

- Definition

Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_AwardTypeAxis=us-gaap_StockAppreciationRightsSARSMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_AwardTypeAxis=us-gaap_PerformanceSharesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: