XML 49 R35.htm IDEA: XBRL DOCUMENT v3.20.4
STOCKHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2020
Stockholders' Equity Note [Abstract]  
Schedule of Compensation Cost on Net Earnings
The Company’s results for the years ended December 31, 2020, 2019 and 2018 reflected the following compensation cost and such compensation cost had the following effects on net earnings:
 Increase/(Decrease) for the
Year Ended, December 31
 202020192018
Cost of sales$1,115 $1,147 $973 
Operating expenses7,188 6,449 5,440 
Net earnings(6,332)(5,884)(4,965)
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:202020192018
Expected Volatility26.9 %24.0 %26.8 %
Expected Term (in years)3.94.04.4
Risk-Free Interest Rate1.3 %2.5 %2.6 %
Dividend Yield0.5 %0.6 %0.6 %
Summary of Stock Option Activity
A summary of stock option plan activity for 2020, 2019, and 2018 for all plans is as follows:
202020192018
# 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 year951 $68.18 887 $61.59 946 $55.44 
Granted174 111.75 197 85.13 148 74.57 
Exercised(256)55.26 (112)43.67 (198)41.71 
Forfeited(11)92.94 (17)80.88 (6)74.90 
Cancelled— — (4)70.90 (3)48.54 
Outstanding at end of year858 $80.58 951 $68.18 887 $61.59 
Exercisable at end of year494 $69.04 581 $59.29 490 $50.50 
Schedule of Other Information Pertaining to Stock Option Activity
Other information pertaining to option activity during the years ended December 31, 2020, 2019 and 2018 is as follows:
 Years Ended December 31,
 202020192018
Weighted-average fair value of options granted$24.36 $18.51 $18.62 
Total intrinsic value of stock options exercised ($000s)$12,698 $6,135 $10,456 
Schedule of Additional Information Relating to Stock Options Outstanding
Additional information related to stock options outstanding under all plans at December 31, 2020 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 - $57.17
53 2.5$43.01 53 $43.01 
$58.52 - $85.33
488 6.571.96 304 66.10 
$85.40 - $113.24
317 7.7100.11 137 85.61 
 858 6.7$80.58 494 $69.04 
Schedule of Non-vested Restricted Stock Activity
Non-vested restricted stock activity for the years ended December 31, 2020, 2019 and 2018 is summarized below:
202020192018
 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 138 $80.03 79 $72.75 66 $65.66 
Granted46 110.53 73 85.69 42 77.50 
Vested(21)67.60 (8)58.52 (27)62.74 
Forfeited(4)91.91 (6)84.65 (2)74.57 
Non-vested balance at end of year 159 $90.71 138 $80.03 79 $72.75 
Schedule of Non-vested Performance Share Activity
Non-vested performance share activity for the years ended December 31, 2020, 2019 and 2018 is summarized below:
202020192018
 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 70 $81.26 53 $75.61 39 $72.62 
Granted20 126.46 33 81.79 32 71.27 
Vested(8)104.15 (9)65.54 (15)58.78 
Forfeited(11)82.71 (7)60.85 (3)72.55 
Non-vested balance at end of year 71 $91.99 70 $81.26 53 $75.61