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Equity Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

The following table presents a summary of options and SARs activity:

						Number of Options and SARs						Weighted-Average Exercise/Conversion Price						Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2020						2,168,395						$	102.30
Granted						200,239						$	129.01
Exercised						(144,042)						$	60.47
Forfeited						(1,878)						$	129.01
Outstanding at December 31, 2021						2,222,714						$	107.39					$	28.7
Awards exercisable						1,800,569						$	103.30					$	28.7

Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]

						Awards Outstanding																		Awards Exercisable
Range of Exercise Prices						Number Outstanding as of 12/31/2021						Weighted-Average Remaining Contractual Life (years)						Weighted- Average Exercise Price						Number Exercisable as of 12/31/2021						Weighted-Average Exercise Price
$50.00 – $89.99						368,754						1.3						$	64.03					368,754						$	64.03
$90.00 – $99.99						703,305						3.8						$	92.55					703,305						$	92.55
$100.00 – $139.99						805,743						7.8						$	122.90					430,718						$	123.44
$140.00 +						344,912						6.7						$	147.80					297,792						$	148.20
Totals						2,222,714						5.3						$	107.39					1,800,569						$	103.30

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The following table presents the weighted average assumptions used to determine the fair value of SARs issued:

For the years ended December 31,						2021						2020						2019
Dividend yield						2.17		%				2.37		%				1.65		%
Risk-free rate of return						1.04		%				0.69		%				2.67		%
Expected volatility						34.5		%				18.8		%				18.2		%
Expected life (years)						6.3						7.0						6.0
Weighted average exercise price of stock options granted						$	129.01					$	117.85					$	145.25
Weighted average fair value of stock options granted						$	34.93					$	15.14					$	26.59

Share-based Payment Arrangement, Activity [Table Text Block]

The following table presents a summary of Performance Share and Restricted Stock Unit activity:

			Performance Contingent Awards						Restricted Stock Units
Outstanding at December 31, 2020			291,129						76,390
Granted			167,862						328,491
Change in units based on performance factor			(117,589)						—
Paid			—						(18,487)
Forfeited			(997)						(6,506)
Outstanding at December 31, 2021 (1)			340,405						379,888

(1)Amount outstanding at December 31, 2021, includes the amount of shares to be issued under RSUs expected to vest and number of shares to be issued under performance continent awards at target performance. The amount of shares do not reflect potential increases or decreases that may result from the performance factor results except for the 2019 – 2021 grants which vested as of December 31, 2021.

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