XML 51 R35.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
STOCKHOLDERS' EQUITY (Tables)
12 Months Ended
Dec. 31, 2019
Stockholders' Equity Note [Abstract]  
Schedule of Compensation Cost on Net Earnings
The Company’s results for the years ended December 31, 2019, 2018 and 2017 reflected the following compensation cost and such compensation cost had the following effects on net earnings:
 Increase/(Decrease) for the
Year Ended, December 31
 201920182017
Cost of sales$1,147  $973  $524  
Operating expenses6,449  5,440  5,736  
Net earnings(5,884) (4,965) (3,990) 
Schedule of Assumptions Used in the Valuation of Option Awards Risk-free interest rates are
based on the implied yields currently available on U.S. Treasury zero coupon issues with a remaining term equal to the expected life.
Year Ended December 31,
Weighted Average Assumptions:201920182017
Expected Volatility24.0 %26.8 %30.1 %
Expected Term (in years)4.04.44.6
Risk-Free Interest Rate2.5 %2.6 %1.8 %
Dividend Yield0.6 %0.6 %0.5 %
Summary of Stock Option Activity
A summary of stock option plan activity for 2019, 2018, and 2017 for all plans is as follows:
201920182017
# of
Shares
(000s)
Weighted Average
Exercise Price
# of
Shares
(000s)
Weighted Average
Exercise Price
# of
Shares
(000s)
Weighted Average
Exercise Price
Outstanding at beginning of year887  $61.59  946  $55.44  1,066  $45.32  
Granted197  85.13  148  74.57  222  85.22  
Exercised(112) 43.67  (198) 41.71  (268) 36.36  
Forfeited(17) 80.88  (6) 74.90  (52) 72.29  
Cancelled(4) 70.90  (3) 48.54  (22) 57.48  
Outstanding at end of year951  $68.18  887  $61.59  946  $55.44  
Exercisable at end of year581  $59.29  490  $50.50  493  $41.01  
Schedule of Other Information Pertaining to Stock Option Activity
Other information pertaining to option activity during the years ended December 31, 2019, 2018 and 2017 is as follows:
 Years Ended December 31,
 201920182017
Weighted-average fair value of options granted$18.51  $18.62  $23.20  
Total intrinsic value of stock options exercised ($000s)$6,135  $10,456  $11,900  
Schedule of Additional Information Relating to Stock Options Outstanding
Additional information related to stock options outstanding under all plans at December 31, 2019 is as follows:
  Options OutstandingOptions Exercisable
Range of Exercise
Prices
Shares
Outstanding
(000s)
Weighted
Average
Remaining
Contractual
 Term
Weighted
Average
 Exercise
Price
Number
Exercisable
(000s)
Weighted
Average
Exercise
Price
$29.06 - $50.32
152  2.4 years$37.18  152  $37.18  
$54.87 - $76.89
433  6.3 years64.63  326  61.38  
$80.26 - $102.25
366  8.0 years85.22  103  85.23  
 951  6.3 years$68.18  581  $59.29  
Schedule of Non-vested Restricted Stock Activity
Non-vested restricted stock activity for the years ended December 31, 2019, 2018 and 2017 is summarized below:
201920182017
 Shares (000s)Weighted
Average Grant
Date Fair
Value
Shares (000s)Weighted
Average Grant
Date Fair
Value
Shares (000s)Weighted
Average Grant
Date Fair
Value
Non-vested balance at beginning of year 79  $72.75  66  $65.66  102  $54.18  
Granted73  85.69  42  77.50  21  83.43  
Vested(8) 58.52  (27) 62.74  (53) 51.39  
Forfeited(6) 84.65  (2) 74.57  (4) 55.45  
Non-vested balance at end of year 138  $80.03  79  $72.75  66  $65.66  
Schedule of Non-vested Performance Share Activity
Non-vested performance share activity for the years ended December 31, 2019, 2018 and 2017 is summarized below:
201920182017
 Shares (000s)Weighted
Average Grant
Date Fair
Value
Shares (000s)Weighted
Average Grant
Date Fair
Value
Shares (000s)Weighted
Average Grant
Date Fair
Value
Non-vested balance at beginning of year 53  $75.61  39  $72.62  34  $61.06  
Granted33  81.79  32  71.27  16  93.85  
Vested(9) 65.54  (15) 58.78  —  —  
Forfeited(7) 60.85  (3) 72.55  (11) 69.25  
Non-vested balance at end of year 70  $81.26  53  $75.61  39  $72.62