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Stock Award Plans (Tables)
 12 Months Ended
Dec. 31, 2014
Stock Award Plans [Abstract]  
Compensation Cost Breakdown in Statement of Earnings
The Company has share-based compensation plans which are described below. The compensation cost that has been charged against earnings for the Company’s stock award plans and the income tax benefit recognized in the statement of earnings for stock awards for the years ended December 31, 2014, 2013 and 2012 were as follows (in thousands):

  
2014
  
2013
  
2012
 
Compensation cost
 
$
11,591
  
$
11,621
  
$
9,796
 
Income tax benefit
 
$
4,358
  
$
4,370
  
$
3,644
 
Summary of Stock Option Activity under Employee Plans
The following is a summary of the stock option activity under the employee plan described above for the years ended December 31, 2014, 2013 and 2012:

  
Outstanding Non- Qualified or Nonincentive Stock Awards
  
Weighted Average Exercise Price
 
Outstanding at December 31, 2011
  
445,674
  
$
36.81
 
Granted
  
99,906
  
$
65.80
 
Exercised
  
(191,955
)
 
$
35.65
 
Canceled or expired
  
(2,452
)
 
$
58.28
 
Outstanding at December 31, 2012
  
351,173
  
$
45.54
 
Granted
  
111,527
  
$
70.94
 
Exercised
  
(83,096
)
 
$
34.51
 
Canceled or expired
  
—
  
$
—
 
Outstanding at December 31, 2013
  
379,604
  
$
55.42
 
Granted
  
75,204
  
$
98.91
 
Exercised
  
(119,276
)
 
$
42.07
 
Canceled or expired
  
(12,576
)
 
$
68.89
 
Outstanding at December 31, 2014
  
322,956
  
$
69.95
 
The following table summarizes information about the Company’s outstanding and exercisable stock options under the employee plan at December 31, 2014:

  
Options Outstanding
  
Options Exercisable
 
Range of Exercise Prices
 
Number Outstanding
  
Weighted Average Remaining Contractual Life in Years
  
Weighted Average Exercise Price
  
Aggregated Intrinsic Value
  
Number Exercisable
  
Weighted Average Exercise Price
  
Aggregated Intrinsic Value
 
$31.35 – $36.35
  
16,910
   
2.1
  
$
32.82
      
16,910
  
$
32.82
    
$46.74
  
56,629
   
3.1
  
$
46.74
      
56,629
  
$
46.74
    
$65.28 – $70.65
  
172,246
   
4.6
  
$
68.39
      
82,946
  
$
67.56
    
$86.96 – $96.85
  
37,730
   
6.1
  
$
93.89
      
655
  
$
86.96
    
$101.46 – $114.11
  
39,441
   
6.2
  
$
103.12
     
─
  
$
─    
$31.35 – $114.11
  
322,956
   
4.6
  
$
69.95
  
$
4,863,000
   
157,140
  
$
56.40
  
$
3,829,000
 
The following is a summary of the stock option activity under the director plan described above for the years ended December 31, 2014, 2013, and 2012:

  
Outstanding Non- Qualified or Nonincentive Stock Awards
  
Weighted Average Exercise Price
 
Outstanding at December 31, 2011
  
353,625
  
$
39.05
 
Granted
  
66,306
  
$
62.39
 
Exercised
  
(73,993
)
 
$
28.22
 
Outstanding at December 31, 2012
  
345,938
  
$
45.84
 
Granted
  
54,958
  
$
75.17
 
Exercised
  
(80,574
)
 
$
46.75
 
Outstanding at December 31, 2013
  
320,322
  
$
50.64
 
Granted
  
42,000
  
$
99.52
 
Exercised
  
(63,988
)
 
$
39.08
 
Outstanding at December 31, 2014
  
298,334
  
$
60.01
 
The following table summarizes information about the Company’s outstanding and exercisable stock options under the director plan at December 31, 2014:

  
Options Outstanding
  
Options Exercisable
 
Range of Exercise Prices
 
Number Outstanding
  
Weighted Average Remaining Contractual Life in Years
  
Weighted Average Exercise Price
  
Aggregate Intrinsic Value
  
Number Exercisable
  
Weighted Average Exercise Price
  
Aggregate Intrinsic Value
 
$20.28 – $29.60
  
30,000
   
1.9
  
$
25.87
      
30,000
  
$
25.87
    
$35.17 – $36.82
  
32,048
   
1.3
  
$
36.09
      
32,048
  
$
36.09
    
$41.24 – $56.45
  
91,022
   
4.2
  
$
51.87
      
91,022
  
$
51.87
    
$61.89 – $62.48
  
54,306
   
5.8
  
$
62.37
      
54,306
  
$
62.37
    
$75.17 – $99.52
  
90,958
   
7.2
  
$
86.41
      
90,958
  
$
86.41
    
$20.28 – $99.52
  
298,334
   
4.9
  
$
60.01
  
$
6,975,000
   
298,334
  
$
60.01
  
$
6,975,000
 
Summary of Restricted Stock Award Activity
The following is a summary of the restricted stock award activity under the employee plan described above for the years ended December 31, 2014, 2013 and 2012:

  
Unvested Restricted Stock Award Shares
  
Weighted Average Grant Date Fair Value Per Share
 
Nonvested balance at December 31, 2011
  
475,632
  
$
36.43
 
Granted
  
121,953
  
$
67.79
 
Vested
  
(168,166
)
 
$
35.43
 
Forfeited
  
(11,291
)
 
$
58.64
 
Nonvested balance at December 31, 2012
  
418,128
  
$
45.39
 
Granted
  
139,971
  
$
69.85
 
Vested
  
(149,162
)
 
$
44.30
 
Forfeited
  
(9,659
)
 
$
61.20
 
Nonvested balance at December 31, 2013
  
399,278
  
$
54.92
 
Granted
  
97,706
  
$
97.46
 
Vested
  
(141,870
)
 
$
45.64
 
Forfeited
  
(33,661
)
 
$
63.56
 
Nonvested balance at December 31, 2014
  
321,453
  
$
71.04
 
The following is a summary of the restricted stock award activity under the director plan described above for the years ended December 31, 2014, 2013 and 2012:

  
Unvested Restricted Stock Award Shares
  
Weighted Average Grant Date Fair Value Per Share
 
Nonvested balance at December 31, 2011
  
1,748
  
$
58.07
 
Granted
  
10,383
  
$
62.99
 
Vested
  
(11,783
)
 
$
62.26
 
Nonvested balance at December 31, 2012
  
348
  
$
62.99
 
Granted
  
10,536
  
$
75.65
 
Vested
  
(10,500
)
 
$
75.23
 
Nonvested balance at December 31, 2013
  
384
  
$
75.65
 
Granted
  
8,160
  
$
99.52
 
Vested
  
(8,252
)
 
$
98.41
 
Nonvested balance at December 31, 2014
  
292
  
$
99.52
 
Summary of Stock Option Valuation Assumptions
The key input variables used in valuing the stock options during the years ended December 31, 2014, 2013 and 2012 were as follows:

  
2014
  
2013
  
2012
 
Dividend yield
 
None
  
None
  
None
 
Average risk-free interest rate
  
2.0
%
  
1.1
%
  
1.1
%
Stock price volatility
  
33
%
  
34
%
  
33
%
Estimated option term
 
Six years or seven years
  
Six years or seven years
  
Six years or seven years