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STOCKHOLDERS' EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2020
Stockholders' Equity Note [Abstract] |
Schedule of Compensation Cost on Net Earnings | The Company’s results for the years ended December 31, 2020, 2019 and 2018 reflected the following compensation cost and such compensation cost had the following effects on net earnings:
|  | Increase/(Decrease) for the Year Ended, December 31
|  | 2020 |  | 2019 |  | 2018
Cost of sales |  | $ | 1,115 |  |  | $ | 1,147 |  |  | $ | 973 |
Operating expenses |  | 7,188 |  |  | 6,449 |  |  | 5,440 |
Net earnings |  | (6,332) |  |  | (5,884) |  |  | (4,965) |
Schedule of Assumptions Used in the Valuation of Option Awards | Risk-free interest rates are based on the implied yields currently available on U.S. Treasury zero coupon issues with a remaining term equal to the expected life.
|  | Year Ended December 31,
Weighted Average Assumptions: |  | 2020 |  | 2019 |  | 2018
Expected Volatility |  | 26.9 | % |  | 24.0 | % |  | 26.8 | %
Expected Term (in years) |  | 3.9 |  | 4.0 |  | 4.4
Risk-Free Interest Rate |  | 1.3 | % |  | 2.5 | % |  | 2.6 | %
Dividend Yield |  | 0.5 | % |  | 0.6 | % |  | 0.6 | %
Summary of Stock Option Activity | A summary of stock option plan activity for 2020, 2019, and 2018 for all plans is as follows:
|  | 2020 |  | 2019 |  | 2018
|  | # of Shares (000s) |  | Weighted Average Exercise Price |  | # of Shares (000s) |  | Weighted Average Exercise Price |  | # of Shares (000s) |  | Weighted Average Exercise Price
Outstanding at beginning of year |  | 951 |  |  | $ | 68.18 |  |  | 887 |  |  | $ | 61.59 |  |  | 946 |  |  | $ | 55.44 |
Granted |  | 174 |  |  | 111.75 |  |  | 197 |  |  | 85.13 |  |  | 148 |  |  | 74.57 |
Exercised |  | (256) |  |  | 55.26 |  |  | (112) |  |  | 43.67 |  |  | (198) |  |  | 41.71 |
Forfeited |  | (11) |  |  | 92.94 |  |  | (17) |  |  | 80.88 |  |  | (6) |  |  | 74.90 |
Cancelled |  | — |  |  | — |  |  | (4) |  |  | 70.90 |  |  | (3) |  |  | 48.54 |
Outstanding at end of year |  | 858 |  |  | $ | 80.58 |  |  | 951 |  |  | $ | 68.18 |  |  | 887 |  |  | $ | 61.59 |
Exercisable at end of year |  | 494 |  |  | $ | 69.04 |  |  | 581 |  |  | $ | 59.29 |  |  | 490 |  |  | $ | 50.50 |
Schedule of Other Information Pertaining to Stock Option Activity | Other information pertaining to option activity during the years ended December 31, 2020, 2019 and 2018 is as follows:
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Weighted-average fair value of options granted |  | $ | 24.36 |  |  | $ | 18.51 |  |  | $ | 18.62 |
Total intrinsic value of stock options exercised ($000s) |  | $ | 12,698 |  |  | $ | 6,135 |  |  | $ | 10,456 |
Schedule of Additional Information Relating to Stock Options Outstanding | Additional information related to stock options outstanding under all plans at December 31, 2020 is as follows:
|  |  |  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices |  | Shares Outstanding (000s) |  | Weighted Average Remaining Contractual Term |  | Weighted Average Exercise Price |  | Number Exercisable (000s) |  | Weighted Average Exercise Price
$29.06 - $57.17 |  | 53 |  |  | 2.5 |  | $ | 43.01 |  |  | 53 |  |  | $ | 43.01 |
$58.52 - $85.33 |  | 488 |  |  | 6.5 |  | 71.96 |  |  | 304 |  |  | 66.10 |
$85.40 - $113.24 |  | 317 |  |  | 7.7 |  | 100.11 |  |  | 137 |  |  | 85.61 |
|  | 858 |  |  | 6.7 |  | $ | 80.58 |  |  | 494 |  |  | $ | 69.04 |
Schedule of Non-vested Restricted Stock Activity | Non-vested restricted stock activity for the years ended December 31, 2020, 2019 and 2018 is summarized below:
|  | 2020 |  | 2019 |  | 2018
|  | Shares (000s) |  | Weighted Average Grant Date Fair Value |  | Shares (000s) |  | Weighted Average Grant Date Fair Value |  | Shares (000s) |  | Weighted Average Grant Date Fair Value
Non-vested balance at beginning of year |  | 138 |  |  | $ | 80.03 |  |  | 79 |  |  | $ | 72.75 |  |  | 66 |  |  | $ | 65.66 |
Granted |  | 46 |  |  | 110.53 |  |  | 73 |  |  | 85.69 |  |  | 42 |  |  | 77.50 |
Vested |  | (21) |  |  | 67.60 |  |  | (8) |  |  | 58.52 |  |  | (27) |  |  | 62.74 |
Forfeited |  | (4) |  |  | 91.91 |  |  | (6) |  |  | 84.65 |  |  | (2) |  |  | 74.57 |
Non-vested balance at end of year |  | 159 |  |  | $ | 90.71 |  |  | 138 |  |  | $ | 80.03 |  |  | 79 |  |  | $ | 72.75 |
Schedule of Non-vested Performance Share Activity | Non-vested performance share activity for the years ended December 31, 2020, 2019 and 2018 is summarized below:
|  | 2020 |  | 2019 |  | 2018
|  | Shares (000s) |  | Weighted Average Grant Date Fair Value |  | Shares (000s) |  | Weighted Average Grant Date Fair Value |  | Shares (000s) |  | Weighted Average Grant Date Fair Value
Non-vested balance at beginning of year |  | 70 |  |  | $ | 81.26 |  |  | 53 |  |  | $ | 75.61 |  |  | 39 |  |  | $ | 72.62 |
Granted |  | 20 |  |  | 126.46 |  |  | 33 |  |  | 81.79 |  |  | 32 |  |  | 71.27 |
Vested |  | (8) |  |  | 104.15 |  |  | (9) |  |  | 65.54 |  |  | (15) |  |  | 58.78 |
Forfeited |  | (11) |  |  | 82.71 |  |  | (7) |  |  | 60.85 |  |  | (3) |  |  | 72.55 |
Non-vested balance at end of year |  | 71 |  |  | $ | 91.99 |  |  | 70 |  |  | $ | 81.26 |  |  | 53 |  |  | $ | 75.61 |

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