Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

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:

Grant Date	Stock Price on Measurement Date		Expected Volatility		Risk Free Interest Rate		Expected Term	Weighted Avg. Grant Date Fair Value
2017	$	127.51	24.7	%	1.9	%	3 Years	$	119.88
2016	$	113.69	25.6	%	1.4	%	3 Years	$	104.93

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, 2018 is as follows (in thousands, except per share amounts):

	Shares		Weighted Average Grant Date Fair Value/Share
RESTRICTED STOCK AT DECEMBER 31, 2017	239		$	108.51
Shares granted	134		108.74
Shares vested	(80	)	107.59
Shares forfeited	(9	)	122.62
RESTRICTED STOCK AT DECEMBER 31, 2018	284		$	108.40

Summary of Stock Appreciation Rights

Activity related to SARs for the year ended December 31, 2018 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, 2017	2,042		$	103.59
Granted	369		107.23
Exercised	(279	)	81.21
Forfeited	(21	)	121.33
Canceled	—		—
OUTSTANDING AT DECEMBER 31, 2018	2,111		$	107.01	7.3 Years	$	6,685
EXERCISABLE AT DECEMBER 31, 2018	1,342		$	102.19	6.2 Years	$	6,685

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 2018, 2017 and 2016:

Grant Date	Expected Dividend Yield		Expected Volatility		Risk Free Interest Rate		Expected Term	Weighted Avg. Grant Date Fair Value of 1 SAR
2018	2.9	%	21.7	%	2.8	%	5.5 Years	$	18.23
2017	2.6	%	18.0	%	2.2	%	5.5 Years	$	17.45
2016	2.6	%	22.3	%	1.9	%	5.5 Years	$	18.76

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

Grant Date	Shares Outstanding at 12/31/2018	Fair Value		Performance Period	Payout Range
2018	60,008	$	98.80	Jan 2019-Dec 2021	0-200% +/- 20%

The following table summarizes the attributes of the performance shares outstanding at December 31, 2018:

Grant Date	Shares Outstanding at 12/31/2018	Fair Value	Performance Period	Payout Range
2017	23,138	118.55	Jan 2018-Dec 2020	0-250%
2016	26,996	105.48	Jan 2017-Dec 2019	0-250%
2015	29,818	97.48	Jan 2016-Dec 2018	0-250%

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 2017 and 2016:

Grant Date	Stock Price on Measurement Date		Dividend Yield		Expected Volatility		Risk Free Interest Rate		Expected Term	Weighted Avg. Grant Date Fair Value
2017	$	127.51	2.4	%	24.7	%	1.9	%	3 Years	$	142.89
2016	$	113.69	2.5	%	25.6	%	1.4	%	3 Years	$	126.65