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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of compensation expense | Stock-based compensation expense, which is included in selling and administrative expenses in the Consolidated Statement of Earnings, for the years ended December 31 follows:
(in millions) |  | 2017 |  | 2016 |  | 2015
Stock option awards |  | $ | 7.7 |  |  | $ | 6.1 |  |  | $ | 5.1 |
Restricted stock awards |  | 6.0 |  |  | 4.5 |  |  | 5.9 |
Performance share awards |  | 5.6 |  |  | 4.7 |  |  | 6.3 |
Restricted stock units |  | 1.4 |  |  | 1.2 |  |  | 1.1 |
Total stock-based compensation expense |  | $ | 20.7 |  |  | $ | 16.5 |  |  | $ | 18.4 |
Schedule of weighted-average assumptions for stock options | The weighted average assumptions used in the determination of fair value for stock option awards for the years ended December 31 follows:
(in millions, except per share amounts) |  | 2017 |  | 2016 |  | 2015
Expected dividend yield |  | 1.3 | % |  | 1.4 | % |  | 1.1 | %
Expected life (in years) |  | 5.58 |  |  | 5.61 |  |  | 5.71 |
Expected volatility |  | 25.6 | % |  | 27.5 | % |  | 27.3 | %
Risk-free interest rate |  | 1.9 | % |  | 1.4 | % |  | 1.4 | %
Weighted-average grant date fair value (per share) |  | $ | 24.57 |  |  | $ | 19.30 |  |  | $ | 21.19 |
Fair value of options granted |  | $ | 8.8 |  |  | $ | 7.2 |  |  | $ | 6.7 |
Intrinsic value of options exercised |  | $ | 8.5 |  |  | $ | 56.4 |  |  | $ | 42.7 |
Fair value of options vested |  | $ | 5.4 |  |  | $ | 4.7 |  |  | $ | 4.6 |
Schedule of stock option activity under the Company's stock option awards | A summary of stock options outstanding and activity during the year ended December 31, 2017, follows:
|  | Number of Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Contractual Term |  | Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2016 |  | 1,263,665 |  |  | $ | 70.95 |  |  |  |  |
Options granted |  | 364,675 |  |  | 107.63 |  |  |  |  |
Options exercised |  | (165,959 | ) |  | 56.61 |  |  |  |  |
Options forfeited / expired |  | (31,069 | ) |  | 92.49 |  |  |  |  |
Outstanding as of December 31, 2017 |  | 1,431,312 |  |  | 81.49 |  |  | 6.8 |  | $ | 46.2 |
Vested and exercisable as of December 31, 2017 |  | 732,408 |  |  | 66.24 |  |  | 5.2 |  | $ | 34.7 |
Schedule of activity related to restricted stock | Information related to restricted stock awards during the years ended December 31 follows:
(in millions, except per share amounts) |  | 2017 |  | 2016 |  | 2015
Weighted-average grant date fair value (per share) |  | $ | 106.78 |  |  | $ | 84.73 |  |  | $ | 90.54 |
A summary of restricted stock awards outstanding and activity during the year ended December 31, 2017, follows:
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2016 |  | 225,265 |  |  | $ | 82.59 |
Shares granted |  | 91,098 |  |  | 106.78 |
Shares vested |  | (105,282 | ) |  | 77.41 |
Shares forfeited |  | (2,760 | ) |  | 94.21 |
Outstanding as of December 31, 2017 |  | 208,321 |  |  | 95.63 |
Schedule of activity related to performance shares | Information related to performance shares during the years ended December 31 follows:
(in millions, except per share amounts) |  | 2017 |  | 2016 |  | 2015
Weighted-average grant date fair value (per share) |  | $ | 141.83 |  |  | $ | 119.08 |  |  | $ | 112.39 |
A summary of performance shares outstanding and activity during the year ended December 31, 2017, follows:
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2016 |  | 219,559 |  |  |
Units granted |  | 47,285 |  |  | $ | 141.83 |
Units converted (withheld) |  | (8,786 | ) |  | 112.39 |
Units vested and issued |  | (86,619 | ) |  | 95.72 |
Units vested and deferred |  | (17,413 | ) |  | 95.72 |
Units forfeited |  | (2,760 | ) |  | 126.66 |
Outstanding as of December 31, 2017 |  | 151,266 |  |  | 123.99 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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