Equity Incentive Program (Tables)

3 Months Ended

Mar. 31, 2016

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based incentive plans compensation expense

Stock-based compensation is reported within selling and administrative expenses in the accompanying unaudited Condensed Consolidated Statements of Earnings. The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans:

	Three Months Ended March 31,
	2016			2015
Pre-tax compensation expense	$	11,387		$	13,387
Tax benefit	(4,050		)	(4,764		)
Total stock-based compensation expense, net of tax	$	7,337		$	8,623

Stock Appreciation Rights (SARs) [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Valuation assumptions

	SARs
	2016			2015
Risk-free interest rate	1.05		%	1.51		%
Dividend yield	3.09		%	2.24		%
Expected life (years)	4.6			5.1
Volatility	26.17		%	27.19		%
Grant price	$	57.25		$	73.28
Fair value per share at date of grant	$	9.25		$	14.55

Performance Shares [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Valuation assumptions

	Performance shares
	2016			2015
Fair value per share at date of grant	$	57.25		$	73.28
Average attainment rate reflected in expense	87.75		%	43.83		%