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Equity Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

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, 2022						2,221,287						$	112.05
Granted						129,146						$	138.34
Exercised						(454,459)						$	91.40
Forfeited						(25,392)						$	125.56
Outstanding at December 31, 2023						1,870,582						$	118.70					$	80.6
Awards exercisable						1,605,172						$	118.18					$	70.0

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

						Awards Outstanding																		Awards Exercisable
Range of Exercise Prices						Number Outstanding as of 12/31/2023						Weighted-Average Remaining Contractual Life (years)						Weighted- Average Exercise Price						Number Exercisable as of 12/31/2023						Weighted-Average Exercise Price
$50.00 – $89.99						30,817						0.2						$	78.48					30,817						$	78.48
$90.00 – $99.99						415,528						1.8						$	92.60					415,528						$	92.60
$100.00 – $139.99						1,096,818						6.8						$	121.03					831,408						$	120.78
$140.00 +						327,419						4.7						$	147.80					327,419						$	147.80
Totals						1,870,582						5.2						$	118.70					1,605,172						$	118.18

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 granted:

For the years ended December 31,						2023						2022						2021
Dividend yield						2.31		%				2.74		%				2.17		%
Risk-free rate of return						4.15		%				2.41		%				1.04		%
Expected volatility						37.1		%				36.0		%				34.5		%
Expected life (in years)						6.3						6.3						6.3
Weighted-average exercise price of stock options granted						$	138.34					$	106.53					$	129.01
Weighted-average fair value of stock options granted						$	47.20					$	30.55					$	34.93

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

The following table presents a summary of Performance Shares and Restricted Stock Units activity:

			Performance Shares						Restricted Stock Units
Outstanding at December 31, 2022			244,980						566,435
Granted			185,311						111,850
Change in units based on performance factor			(2,931)						—
Paid			(59,453)						(241,969)
Forfeited			(8,356)						(19,010)
Outstanding at December 31, 2023 (1)			359,551						417,306

(1)Amount outstanding at December 31, 2023, includes the amount of shares to be issued under RSUs expected to vest and number of Performance Shares to be issued 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 2021 – 2023 grants which vested at December 31, 2023.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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