Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table summarizes the assumptions used in estimating the fair value of these awards:

	Stock Price on Measurement Date		Expected Volatility		Risk Free Interest Rate		Expected Term	Weighted Avg. Grant Date Fair Value
2016	$	113.69	25.6	%	1.4	%	3 Years	$	104.93
2015	$	97.48	23.3	%	1.3	%	3 years	$	87.61
2014	$	106.44	22.7	%	1.0	%	3 years	$	95.96

Schedule of Activity Related to Employee and Non-Employee Restricted Stock

Activity related to both employee and non-employee restricted stock for the year ended December 31, 2016 is as follows (in thousands, except per share amounts):

	Shares		Weighted Average Grant Date Fair Value/Share
RESTRICTED STOCK AT DECEMBER 31, 2015	199		$	102.22
Shares granted	87		109.95
Shares vested	(57	)	104.20
Shares forfeited	(5	)	101.99
RESTRICTED STOCK AT DECEMBER 31, 2016	224		$	102.37

Summary of Stock Appreciation Rights

Activity related to SARs for the year ended December 31, 2016 is as follows (in thousands, except per share amounts):

	Number of Rights		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
OUTSTANDING AT DECEMBER 31, 2015	1,704		$	83.77
Granted	382		113.48
Exercised	(270	)	53.50
Forfeited	(4	)	100.39
Canceled	(1	)	106.44
OUTSTANDING AT DECEMBER 31, 2016	1,811		$	94.51	7.4	$	40,195
EXERCISABLE AT DECEMBER 31, 2016	1,108		$	86.35	6.2	$	33,640

Summary of the Weighted-Average Assumption Used in Estimating Fair Value of Stock Appreciation Rights

The following table summarizes the weighted-average assumptions used in estimating the fair value of the SARs granted during the years 2016, 2015 and 2014:

	Expected Dividend Yield		Expected Volatility		Risk Free Interest Rate		Expected Term	Weighted Avg. Grant Date Fair Value of 1 SAR
2016	2.6	%	22.3	%	1.9	%	5.5 Years	$	18.76
2015	2.7	%	22.7	%	1.7	%	5.5 Years	$	16.05
2014	2.0	%	21.8	%	1.6	%	5.3 Years	$	18.42

Summary of Performance Shares Valuation

The following table summarizes the related assumptions used to determine the fair values of the performance share awards with a market condition granted during the years 2016, 2015 and 2014:

	Stock Price on Measurement Date		Dividend Yield		Expected Volatility		Risk Free Interest Rate		Expected Term	Weighted Avg. Grant Date Fair Value
2016	$	113.69	2.5	%	25.6	%	1.4	%	3 Years	$	126.65
2015	$	97.48	2.6	%	23.3	%	1.3	%	3 Years	$	105.77
2014	$	106.44	2.1	%	22.7	%	1.0	%	3 Years	$	117.55

Summary of the Attributes of the Performance Shares Granted During the Period

The following table summarizes the attributes of the performance shares granted during 2016, 2015 and 2014:

	Shares Outstanding at 12/31/2016	Fair Value	Performance Period	Payout Range
2016	29,012	105.48	Jan 2017-Dec 2019	0-250%
2015	31,553	97.48	Jan 2016-Dec 2018	0-250%
2014	24,008	106.44	Jan 2015-Dec 2017	0-250%