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Equity Incentive Program (Tables)
 3 Months Ended
Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Stock-based incentive plans compensation expense
Stock-based compensation is reported within selling, general 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,
 
2017
 
2016
Pre-tax stock-based compensation expense
$
12,805

 
$
11,387

Tax benefit
(4,554
)
 
(4,050
)
Total stock-based compensation expense, net of tax
$
8,251

 
$
7,337



On January 1, 2017, the Company adopted ASU 2016-09, Compensation: Stock Compensation (Topic 718). See Note 18 — Recent Accounting Pronouncements for further details.
Stock Appreciation Rights (SARs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Valuation assumptions
 
SARs
 
2017
 
2016
Risk-free interest rate
1.80
%
 
1.05
%
Dividend yield
2.27
%
 
3.09
%
Expected life (years)
4.6

 
4.6

Volatility
21.90
%
 
26.17
%
 
 
 
 
Grant price
$
79.28

 
$
57.25

Fair value per share at date of grant
$
12.63

 
$
9.25
Performance Shares [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Valuation assumptions
 
Performance shares
 
2017
 
2016
Fair value per share at date of grant
$
79.28

 
$
57.25

Average attainment rate reflected in expense
169.95
%
 
39.91
%