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INCENTIVE PLANS (Tables)
12 Months Ended
Dec. 31, 2018
Aggregate Values for Distributed Restricted Share Awards



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

in thousands

2018

 

 

2017

 

 

2016

 

Aggregate value of distributed

 

 

 

 

 

 

 

 

  restricted shares

$        1,345 

 

 

$        7,685 

 

 

$               0 

 



Weighted-Average Fair Value and Weighted-Average Assumptions Used in Estimating Fair Value of Grants



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 



 

 

2018

 

 

2017

 

 

2016

 

SOSARs

 

 

 

 

 

 

 

 

Fair value

$        43.72 

 

 

$        43.01 

 

 

$        29.20 

 

Risk-free interest rate

2.90% 

 

 

2.36% 

 

 

1.66% 

 

Dividend yield

1.39% 

 

 

1.27% 

 

 

1.39% 

 

Volatility

31.49% 

 

 

31.35% 

 

 

30.42% 

 

Expected term

9.00 years

 

 

9.00 years

 

 

9.00 years

 



Aggregate Intrinsic Values of Options Exercised



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

in thousands

2018

 

 

2017

 

 

2016

 

Aggregate intrinsic value of SOSARs exercised

$       49,248 

 

 

$       13,758 

 

 

$       27,705 

 



Cash and Stock Consideration Received and Tax Benefit Realized from SOSAR Exercises and Compensation Cost Recorded



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

in thousands

2018

 

 

2017

 

 

2016

 

SOSARs

 

 

 

 

 

 

 

 

Cash and stock consideration received

 

 

 

 

 

 

 

 

  from exercises

$              0 

 

 

$              0 

 

 

$              0 

 

Tax benefit from exercises

19,083 

 

 

5,331 

 

 

10,767 

 

Compensation cost

4,763 

 

 

3,723 

 

 

2,744 

 



Performance Shares [Member]  
Summary of Activity For Nonvested Performance Share Units



 

 

 

 

 

 

 



 

 

 

 

 

 

 



 

 

Target

 

 

Weighted-average

 



 

 

Number

 

 

Grant Date

 



 

 

of Shares

 

 

Fair Value

 

Performance Shares

 

 

 

 

 

Nonvested at January 1, 2018

498,979 

 

 

$             89.16 

 

Granted

130,715 

 

 

117.20 

 

Vested

(218,725)

 

 

74.85 

 

Canceled/forfeited

(60,291)

 

 

103.56 

 

Nonvested at December 31, 2018

350,678 

 

 

$           106.06 

 



Aggregate Value of Performance Shares



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

in thousands

2018

 

 

2017

 

 

2016

 

Aggregate value of distributed

 

 

 

 

 

 

 

 

  performance shares

$       53,721 

 

 

$       52,368 

 

 

$       60,443 

 



Restricted Shares [Member]  
Summary of Restricted Stock Units



 

 

 

 

 

 

 



 

 

 

 

 

 

 



 

 

 

 

 

Weighted-average

 



 

 

Number

 

 

Grant Date

 



 

 

of Shares

 

 

Fair Value

 

Restricted Stock Units

 

 

 

 

 

Nonvested at January 1, 2018

109,302 

 

 

$             97.43 

 

Granted

52,065 

 

 

117.20 

 

Vested

(11,622)

 

 

100.35 

 

Canceled/forfeited

(4,366)

 

 

110.73 

 

Nonvested at December 31, 2018

145,379 

 

 

$           103.88 

 



SOSARs [Member]  
Summary of Our SOSAR Activity



 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

Weighted-average

 

 

 

 



 

 

 

 

 

 

 

 

Remaining

 

 

Aggregate

 



 

 

Number

 

 

Weighted-average

 

 

Contractual

 

 

Intrinsic Value

 



 

 

of Shares

 

 

Exercise Price

 

 

Life (Years)

 

 

(in thousands)

 

SOSARs

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2018

2,242,487 

 

 

$             52.95 

 

 

 

 

 

 

 

Granted

82,800 

 

 

121.69 

 

 

 

 

 

 

 

Exercised

(583,539)

 

 

45.71 

 

 

 

 

 

 

 

Forfeited or expired

(165)

 

 

79.41 

 

 

 

 

 

 

 

Outstanding at December 31, 2018

1,741,583 

 

 

$             58.64 

 

 

3.70 

 

 

$           72,276 

 

Exercisable at December 31, 2018

1,518,900 

 

 

$             51.39 

 

 

3.08 

 

 

$           71,284