EQUITY

9 Months Ended

Sep. 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.

In 2014, we issued 715,004shares of common stock in connection with a business acquisition as described in Note 16.

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

§ nine months ended September 30, 2014— issued 485,306 shares for cash proceeds of $30,620,000

Changes in total equity for the nine months ended September 30, 2015 are summarized below:

	Total
in thousands	Equity
Balance at December 31, 2014	$    4,176,699
Net earnings	132,289
Common stock issued
Share-based compensation plans	48,329
Share-based compensation expense	14,020
Excess tax benefits from share-based compensation	16,950
Cash dividends on common stock ($0.30 per share)	(39,878)
Other comprehensive income	14,868
Other	0
Balance at September 30, 2015	$    4,363,277

There were noshares held in treasury as of September 30, 2015, December 31, 2014 and September 30, 2014. As of September 30, 2015, 3,411,416 shares may be repurchased under the current purchase authorization of our Board of Directors.