EQUITY

6 Months Ended

Jun. 30, 2015

EQUITY [Abstract]

EQUITY

Note 12: Equity

Our capital stock consists solely of common stock, par value $1.00 per share. Holders of our common stock are entitled to one vote per share. Our Certificate of Incorporation also authorizes preferred stock of which no shares have been issued. The terms and provisions of such shares will be determined by our Board of Directors upon any issuance of preferred shares in accordance with our Certificate of Incorporation.

Under a program that was discontinued in the fourth quarter of 2014, we occasionally sold shares of common stock to the trustee of our 401(k) retirement plans to satisfy the plan participants’ elections to invest in our common stock. Under this arrangement, the stock issuances and resulting cash proceeds were as follows:

§ twelve months ended December 31, 2014— issued 485,306 shares for cash proceeds of $30,620,000

§ six months ended June 30, 2014— issued 435,655 shares for cash proceeds of $27,539,000

Changes in total equity for the six months ended June 30, 2015 are summarized below:

	Total
in thousands	Equity
Balance at December 31, 2014	$    4,176,699
Net earnings	8,484
Common stock issued
Share-based compensation plans	36,485
Share-based compensation expense	9,679
Excess tax benefits from share-based compensation	11,457
Cash dividends on common stock ($0.20 per share)	(26,549)
Other comprehensive income	10,703
Other	(1)
Balance at June 30, 2015	$    4,226,957

There were no shares held in treasury as of June 30, 2015, December 31, 2014 and June 30, 2014. As of June 30, 2015, 3,411,416 shares may be repurchased under the current purchase authorization of our Board of Directors.