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Components of Equity
 3 Months Ended
Mar. 31, 2014
Stockholders' Equity Note [Abstract]  
Components of Equity
Components of Equity
The components of equity for the three months ended March 31, 2014 and 2013 are as follows:
 
Shareholders’
equity
 
Noncontrolling
interest
 
Total
equity
Balance at December 31, 2013
$
2,084,783

 
1,548

 
2,086,331

Exercise of stock options
7,892

 
—

 
7,892

Shares repurchased under provisions of stock repurchase plans
(226,725
)
 
—

 
(226,725
)
Stock compensation expense
10,294

 
—

 
10,294

Tax benefits from stock plans, net
489

 
—

 
489

Net earnings
83,824

 
371

 
84,195

Other comprehensive (loss) income
(2,426
)
 
49

 
(2,377
)
Distributions to noncontrolling interest
—

 
(85
)
 
(85
)
Balance at March 31, 2014
$
1,958,131

 
1,883

 
1,960,014

 
 
 
 
 
 
Balance at December 31, 2012
$
2,027,699

 
4,871

 
2,032,570

Exercise of stock options
10,929

 
—

 
10,929

Shares repurchased under provisions of stock repurchase plans
(17,681
)
 
—

 
(17,681
)
Stock compensation expense
11,005

 
—

 
11,005

Tax benefits from stock plans, net
934

 
—

 
934

Net earnings
80,315

 
295

 
80,610

Other comprehensive loss
(9,999
)
 
(14
)
 
(10,013
)
Purchase of noncontrolling interest
(507
)
 
(3,226
)
 
(3,733
)
Balance at March 31, 2013
$
2,102,695

 
1,926

 
2,104,621


The Company has a Non-Discretionary Stock Repurchase Plan to repurchase shares from the proceeds of stock option exercises. During the quarter ended March 31, 2014, 93,798 shares were repurchased at an average price of $39.02 per share. The Company also has a Discretionary Stock Repurchase Plan that was amended by the Board of Directors on February 24, 2014 to authorize management to reduce issued and outstanding stock to 190 million shares of common stock. During the quarter ended March 31, 2014, 5,631,704 shares were repurchased at an average price of $39.61 per share.
Accumulated other comprehensive (loss) income consisted entirely of foreign currency translation adjustments, net of related income tax effects, for all the periods presented.
Subsequent to the end of the quarter, on May 7, 2014, the Board of Directors declared a semi-annual cash dividend of $.32 per share payable on June 16, 2014 to shareholders of record as of June 2, 2014.