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Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2020
Stock Options and Stock Appreciation Rights (SARs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Valuation Assumptions
The following table illustrates the assumptions used in estimating fair value in the years ended December 31, 2020, 2019 and 2018:

202020192018
Grant date fair value of stock options and SARs$22.62 $20.59 $14.78 
Expected stock price volatility26.89 %26.59 %25.69 %
Risk-free interest rate0.89 %2.58 %2.62 %
Expected annual dividend yield0.82 %1.08 %1.34 %
Expected life of options & SARs (years)5.55.65.7
Schedule of stock option and SAR activity
The following table illustrates the stock option and SAR activity for the year ended December 31, 2020:

Number
of
Shares
(in 000’s)
Weighted-
Average
Exercise
Price
Outstanding at December 31, 20193,253 $55.97 
Granted859 $95.84 
Forfeited(250)$72.81 
Exercised(526)$45.07 
Outstanding at December 31, 20203,336 $66.76 
Exercisable at December 31, 20201,199 $52.18 
Stock options & SARs expected to vest 2,137 $74.94 
Restricted Stock Units (RSUs) and Performance Share Units (PSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of RSU and PSU activity
The following table illustrates the RSU and PSU activity for the year ended December 31, 2020:  

Number
of
Shares
(in 000’s)
Weighted-
Average
Grant-Date
Fair Value
Outstanding at December 31, 2019169 $48.94 
Granted37 $85.45 
Vested(140)$43.99 
Forfeited(5)$79.30 
Outstanding at December 31, 202061 $77.03