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INCENTIVE PLANS (Tables)
12 Months Ended
Dec. 31, 2022
Aggregate Values for Distributed Restricted Share Awards

in millions

2022

2021

2020

Aggregate value of distributed

restricted shares

$          15.7 

$            9.0 

$          12.2 

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

2022

2021

2020

SOSARs

Fair value

$        60.57 

$        52.19 

$        40.91 

Risk-free interest rate

2.02%

1.18%

1.50%

Dividend yield

0.77%

0.62%

0.71%

Volatility

26.68%

27.33%

25.74%

Expected term (years)

9.00

9.00

9.00

Aggregate Intrinsic Values of Options Exercised

in millions

2022

2021

2020

Aggregate intrinsic value of SOSARs exercised

$            1.9 

$          24.9 

$          22.3 

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, 2022

220,988 

$           148.93 

Granted

116,825 

185.31 

Vested

(109,880)

133.95 

Canceled/forfeited

(8,032)

163.95 

Nonvested at December 31, 2022

219,901 

$           160.48 

Aggregate Value of Performance Shares

in millions

2022

2021

2020

Aggregate value of distributed

performance shares

$          33.4 

$          19.6 

$          38.8 

Restricted Shares [Member]  
Summary of Restricted Stock Units

Weighted-average

Number

Grant Date

of Shares

Fair Value

Restricted Stock Units

Nonvested at January 1, 2022

205,280 

$           135.26 

Granted

76,036 

184.49 

Vested

(86,326)

117.27 

Canceled/forfeited

(9,502)

162.76 

Nonvested at December 31, 2022

185,488 

$           162.40 

SOSARs [Member]  
Summary of Our SOSAR Activity

Weighted-average

Remaining

Aggregate

Number

Weighted-average

Contractual

Intrinsic Value

of Shares

Exercise Price

Life (Years)

(in millions)

SOSARs

Outstanding at January 1, 2022

624,144 

$           105.43 

Granted

69,015 

185.29 

Exercised

(18,790)

74.66 

Forfeited or expired

0 

0.00 

Outstanding at December 31, 2022

674,369 

$           114.46 

4.74 

$               41.0 

Exercisable at December 31, 2022

536,100 

$           100.29 

3.79 

$               39.6 

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

in millions

2022

2021

2020

SOSARs

Cash received from exercises

$            0.0 

$            0.0 

$            0.0 

Tax benefit from exercises

0.4 

6.3 

5.7 

Compensation cost

4.0 

3.9 

3.9