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 5,000,000 shares of 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 in accordance with our Certificate of Incorporation.

There were no shares held in treasury as of September 30, 2018, December 31, 2017 and September 30, 2017.

Our common stock purchases (all of which were open market purchases) and subsequent retirements are summarized below:



	September 30	December 31	September 30
in thousands, except average price	2018	2017	2017
Shares Purchased and Retired
Number	866	510	510
Total purchase price	$ 99,916	$ 60,303	$ 60,303
Average price per share	$ 115.31	$ 118.18	$ 118.18

As of September 30, 2018, 8,623,227 shares may be purchased under the current purchase authorization of our Board of Directors.

Changes in total equity are summarized below:


"
	Three Months Ended		Nine Months Ended
	September 30		September 30
in thousands	2018	2017	2018	2017
Total Equity
Balance at beginning of period	$ 5,020,630	$ 4,602,104	$ 4,968,893	$ 4,572,476
Net earnings	179,151	108,579	391,783	273,639
Common stock issued
Share-based compensation plans, net of shares
withheld for taxes	(32)	(377)	(31,370)	(24,485)
Purchase and retirement of common stock	(24,995)	0	(99,916)	(60,303)
Share-based compensation expense	6,887	6,282	21,650	19,953
Cash dividends on common stock
($0.28/$0.25/$0.84/$0.75 per share, respectively)	(36,996)	(33,069)	(111,192)	(99,263)
Other comprehensive income	1,144	1,615	5,941	3,117
Balance at end of period	$ 5,145,789	$ 4,685,134	$ 5,145,789	$ 4,685,134