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STOCK AWARD PLANS (Tables)
 9 Months Ended
Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
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 three months and nine months ended September 30, 2015 and 2014 were as follows (in thousands):

  
Three months ended
September 30,
  
Nine months ended
September 30,
 
  
2015
  
2014
  
2015
  
2014
 
Compensation cost
 
$
3,127
  
$
3,551
  
$
8,378
  
$
8,824
 
Income tax benefit
 
$
1,161
  
$
1,329
  
$
3,125
  
$
3,327
 
Summary of Stock option valuation assumptions
The fair value of each stock option was determined using the Black-Scholes option pricing model. The key input variables used in valuing the options during the nine months ended September 30, 2015 and 2014 were as follows:

  
Nine months ended
September 30,
 
  
2015
  
2014
 
Dividend yield
 
None
  
None
 
Average risk-free interest rate
  
1.3
%
  
2.0
%
Stock price volatility
  
33
%
  
33
%
Estimated option term
 
Six years
  
Six or seven years
 
Employee Plan [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of stock option activity
The following is a summary of the stock option activity under the employee plan described above for the nine months ended September 30, 2015:

  
Outstanding
Non-
Qualified or
Nonincentive
Stock
Awards
  
Weighted
Average
Exercise
Price
 
Outstanding at December 31, 2014
  
322,956
  
$
69.95
 
Granted
  
114,894
  
$
74.99
 
Exercised
 
─
  
$
─
 
Forfeited
  
(7,418
)
 
$
86.28
 
Outstanding at September 30, 2015
  
430,432
  
$
71.01
 
Summary of outstanding and exercisable stock options
The following table summarizes information about the Company’s outstanding and exercisable stock options under the employee plan at September 30, 2015:
 
  
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
 
$
31.35 - $ 36.35
   
16,910
   
1.4
  
$
32.82
      
16,910
  
$
32.82
      
$
46.74
   
56,629
   
2.3
  
$
46.74
      
56,629
  
$
46.74
      
$
65.28 - $ 74.99
   
283,963
   
4.9
  
$
70.98
      
141,669
  
$
67.90
      
$
93.64 - $ 96.85
   
35,763
   
5.3
  
$
94.27
      
11,921
  
$
94.27
      
$
101.46 - $114.11
   
37,167
   
5.5
  
$
103.22
      
12,389
  
$
103.22
      
$
31.35 -$114.11
   
430,432
   
4.5
  
$
71.01
  $
1,354,000
  
239,518
  
$
63.56
  $
1,354,000
 
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 nine months ended September 30, 2015:
 
  
Unvested
Restricted
Stock Award
Shares
  
Weighted
Average
Grant Date
Fair Value
Per Share
 
Nonvested balance at December 31, 2014
  
321,453
  
$
71.04
 
Granted
  
122,740
  
$
75.04
 
Vested
  
(113,788
)
 
$
60.74
 
Forfeited
  
(17,041
)
 
$
81.98
 
Nonvested balance at September 30, 2015
  
313,364
  
$
75.75
 
Director Plan [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of stock option activity
The following is a summary of the stock option activity under the director plan described above for the nine months ended September 30, 2015:

  
Outstanding
Non-
Qualified or
Nonincentive
Stock
Options
  
Weighted
Average
Exercise
Price
 
Outstanding at December 31, 2014
  
298,334
  
$
60.01
 
Granted
 
─
  
$
─
 
Exercised
  
(77,905
)
 
$
47.65
 
Outstanding at September 30, 2015
  
220,429
  
$
64.37
 
Summary of outstanding and exercisable stock options
The following table summarizes information about the Company’s outstanding and exercisable stock options under the director plan at September 30, 2015:

  
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
 
$
29.60 - $36.82
   
30,000
   
2.2
  
$
33.60
      
30,000
  
$
33.60
      
$
41.24 - $56.45
   
71,276
   
4.6
  
$
52.34
      
71,276
  
$
52.34
      
$
61.89 - $62.48
   
41,153
   
6.7
  
$
62.34
      
41,153
  
$
62.34
      
$
75.17 - $99.52
   
78,000
   
7.5
  
$
88.28
      
78,000
  
$
88.28
      
$
29.60 - $99.52
   
220,429
   
5.7
  
$
64.37
  $
1,536,000
  
220,429
  
$
64.37
  $
1,536,000
 
Summary of restricted stock award activity
The following is a summary of the restricted stock award activity under the director plan described above for the nine months ended September 30, 2015:

  
Unvested
Restricted
Stock Award
Shares
  
Weighted
Average
Grant Date
Fair Value
Per Share
 
Nonvested balance at December 31, 2014
  
292
  
$
99.52
 
Granted
  
18,843
  
$
79.46
 
Vested
  
(858
)
 
$
86.29
 
Nonvested balance at September 30, 2015
  
18,277
  
$
79.46