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Equity Incentive Program (Tables)
6 Months Ended
Jun. 30, 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 Condensed Consolidated Statements of Earnings. The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Pre-tax stock-based compensation expense
$
4,664

 
$
2,973

 
$
17,469

 
$
14,360

Tax benefit
(1,633
)
 
(1,030
)
 
(6,187
)
 
(5,080
)
Total stock-based compensation expense, net of tax
$
3,031

 
$
1,943

 
$
11,282

 
$
9,280



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
167.04
%
 
20.96
%