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INCENTIVE PLANS (Tables)
12 Months Ended
Dec. 31, 2019
Aggregate Values for Distributed Restricted Share Awards

in thousands

2019

2018

2017

Aggregate value of distributed

restricted shares

$        2,417 

$        1,345 

$        7,685 

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

2019

2018

2017

SOSARs

Fair value

$        38.90 

$        43.72 

$        43.01 

Risk-free interest rate

2.62%

2.90%

2.36%

Dividend yield

0.87%

1.39%

1.27%

Volatility

27.23%

31.49%

31.35%

Expected term (years)

9.00

9.00

9.00

Aggregate Intrinsic Values of Options Exercised

in thousands

2019

2018

2017

Aggregate intrinsic value of SOSARs exercised

$       74,838 

$       49,248 

$       13,758 

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, 2019

350,678 

$           106.06 

Granted

133,105 

110.39 

Vested

(235,611)

100.65 

Canceled/forfeited

(3,268)

111.47 

Nonvested at December 31, 2019

244,904 

$           113.55 

Aggregate Value of Performance Shares

in thousands

2019

2018

2017

Aggregate value of distributed

performance shares

$       33,169 

$       53,721 

$       52,368 

Restricted Shares [Member]  
Summary of Restricted Stock Units

Weighted-average

Number

Grant Date

of Shares

Fair Value

Restricted Stock Units

Nonvested at January 1, 2019

145,379 

$           103.88 

Granted

90,335 

110.39 

Vested

(20,631)

85.45 

Canceled/forfeited

(3,153)

111.33 

Nonvested at December 31, 2019

211,930 

$           108.34 

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, 2019

1,741,583 

$             58.64 

Granted

72,900 

113.16 

Exercised

(849,268)

41.77 

Forfeited or expired

(20,616)

113.14 

Outstanding at December 31, 2019

944,599 

$             76.84 

4.77 

$           63,019 

Exercisable at December 31, 2019

786,299 

$             69.27 

4.07 

$           58,405 

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

in thousands

2019

2018

2017

SOSARs

Cash and stock consideration received

from exercises

$              0 

$              0 

$              0 

Tax benefit from exercises

29,000 

19,083 

5,331 

Compensation cost

4,042 

4,763 

3,723