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INCENTIVE PLANS (Tables)
12 Months Ended
Dec. 31, 2020
Aggregate Values for Distributed Restricted Share Awards

in thousands

2020

2019

2018

Aggregate value of distributed

restricted shares

$       12,210 

$         2,417 

$         1,345 

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

2020

2019

2018

SOSARs

Fair value

$        40.91 

$        38.90 

$        43.72 

Risk-free interest rate

1.50%

2.62%

2.90%

Dividend yield

0.71%

0.87%

1.39%

Volatility

25.74%

27.23%

31.49%

Expected term (years)

9.00

9.00

9.00

Aggregate Intrinsic Values of Options Exercised

in thousands

2020

2019

2018

Aggregate intrinsic value of SOSARs exercised

$       22,273 

$       74,838 

$       49,248 

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, 2020

244,904 

$           113.55 

Granted

117,740 

133.95 

Vested

(112,302)

117.19 

Canceled/forfeited

(6,483)

120.66 

Nonvested at December 31, 2020

243,859 

$           121.53 

Aggregate Value of Performance Shares

in thousands

2020

2019

2018

Aggregate value of distributed

performance shares

$       38,841 

$       33,169 

$       53,721 

Restricted Shares [Member]  
Summary of Restricted Stock Units

Weighted-average

Number

Grant Date

of Shares

Fair Value

Restricted Stock Units

Nonvested at January 1, 2020

211,930 

$           108.34 

Granted

82,271 

133.95 

Vested

(86,302)

102.12 

Canceled/forfeited

(7,746)

119.63 

Nonvested at December 31, 2020

200,153 

$           121.11 

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, 2020

944,599 

$             76.84 

Granted

75,300 

133.95 

Exercised

(229,993)

48.16 

Forfeited or expired

(1,470)

43.05 

Outstanding at December 31, 2020

788,436 

$             90.72 

5.03 

$           44,106 

Exercisable at December 31, 2020

641,613 

$             82.84 

4.23 

$           40,949 

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

in thousands

2020

2019

2018

SOSARs

Cash and stock consideration received

from exercises

$              0 

$              0 

$              0 

Tax benefit from exercises

5,693 

29,000 

19,083 

Compensation cost

3,855 

4,042 

4,763