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Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2021
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, 2021, 2020 and 2019:

202120202019
Grant date fair value of stock options and SARs$42.47 $22.62 $20.59 
Expected stock price volatility39.27 %26.89 %26.59 %
Risk-free interest rate0.81 %0.89 %2.58 %
Expected annual dividend yield0.64 %0.82 %1.08 %
Expected life of options & SARs (years)5.55.55.6
Schedule of stock option and SAR activity
The following table illustrates the stock option and SAR activity for the year ended December 31, 2021:

Number
of
Shares
(in 000’s)
Weighted-
Average
Exercise
Price
Outstanding at December 31, 20203,336 $66.76 
Granted701 $123.21 
Forfeited(177)$82.35 
Exercised(596)$51.59 
Outstanding at December 31, 20213,264 $80.79 
Exercisable at December 31, 20211,284 $59.40 
Stock options & SARs expected to vest 1,980 $94.67 
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 activity for the year ended December 31, 2021:  

Number
of
Shares
(in 000’s)
Weighted-
Average
Grant-Date
Fair Value
Outstanding at December 31, 202061 $77.03 
Granted21 $129.94 
Vested(30)$73.11 
Forfeited(1)$55.96 
Outstanding at December 31, 202151 $101.55