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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2023
Stock-Based Compensation Plans [Abstract]  
Schedule Of Comparative Date For Performance Stock Units

2023 Awards

2022 Awards

2021 Awards

TSR Awards

Shares of stock granted - target

8,107 

7,983 

6,277 

Per-share fair value

$

633.32 

$

595.70 

$

599.04 

Volatility

25.5 

%

30.4 

%

30.2 

%

Risk-free interest rate

4.3 

%

1.7 

%

0.2 

%

EPS Awards

Shares of stock granted - target

8,107 

7,983 

6,277 

Per-share fair value

$

515.12 

$

459.77 

$

491.34 

Common Assumptions

Service period (years)

2.9 

2.9 

2.9 

Three-year measurement period ends December 31,

2025

2024

2023

Schedule Of Total Stock Option, Stock Award And PSU Activity

Stock Options

Stock Awards

Performance Units (PSUs)

Weighted

Weighted Average

Aggregate

Average

Weighted

Remaining

Intrinsic

Grant-Date

Number of

Average

Number of

Exercise

Contractual

Value

Number of

Per-Share

Target

Grant-Date

Options

Price

Life (Years)

(thousands)

Awards

Fair Value

Units

Price

Outstanding at December 31, 2022

1,181,154

$

432.75

-

$

-

37,490

$

543.11

Granted

315,555

509.46

2,646

545.69

21,802

557.23

Exercised/Vested

(370,105)

406.45

(2,646)

545.69

(15,138)

544.36

Canceled/ Forfeited

(9,381)

455.42

-

-

-

-

Outstanding at December 31, 2023

1,117,223

$

462.94

3.3

$

134,531

-

$

-

44,154

$

549.65

Vested and expected to vest

at December 31, 2023

1,117,223

$

462.94

3.3

$

134,531

-

$

-

49,231

*

$

546.47

Exercisable at December 31, 2023

494,064

437.24

2.2

72,191

n.a.

n.a.

n.a.

n.a.

* Amount includes 9,918 share units which vested and were converted to shares of stock and distributed in the first quarter of 2024.

Schedule Of Comparative Data For Stocks Option, Stock Awards And PSUs

Years Ended December 31,

2023

2022

2021

Total compensation expense of stock-based compensation

plans charged against income

$

40,793 

$

33,613 

$

31,420 

Total income tax benefit recognized in income for stock

based compensation expense charged against income

9,709 

8,487 

7,918 

Total intrinsic value of stock options exercised

54,681 

53,339 

62,038 

Total intrinsic value of stock awards vested during the period

1,444 

1,170 

1,173 

Per-share weighted average grant-date fair value of

stock awards granted

545.69 

496.25 

482.66 

Schedule Of Valuation Assumptions

2023

2022

2021

Stock price on date of issuance

$

509.46

$

462.04

$

445.35

Grant date fair value per option

$

111.24

$

104.69

$

96.91

Number of options granted

315,555

312,598

326,806

Expected term (years)

3.5

3.5

3.5

Risk free rate of return

4.99

%

4.39

%

0.87

%

Volatility

19.24

%

22.29

%

28.81

%

Dividend yield

0.3

%

0.3

%

0.3

%

Forfeiture rate

-

-

-

Schedule Of Other Data For Stock Options, Stock Awards And PSUs

Stock

Stock

Options

Awards

PSUs

Total unrecognized compensation at the end of the year

$

60,819 

$

-

$

10,125 

Weighted average period over which unrecognized compensation to be recognized (years)

2.2 

-

1.6 

Actual income tax benefit realized

$

12,139 

$

321 

$

1,478 

Aggregate intrinsic value vested and expected to vest

$

134,531 

$

-

$

28,719