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STOCK AWARD PLANS (Tables)
 9 Months Ended
Sep. 30, 2018
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, 2018 and 2017 were as follows (in thousands):

  
Three months ended
September 30,
  
Nine months ended
September 30,
 
  
2018
  
2017
  
2018
  
2017
 
Compensation cost
 
$
3,098
  
$
3,067
  
$
16,649
  
$
8,991
 
Income tax benefit
 
$
709
  
$
1,234
  
$
4,747
  
$
3,386
 
Stock Option Valuation Assumptions
The key input variables used in valuing the options during the nine months ended September 30, 2018 and 2017 were as follows:

  
Nine months ended
September 30,
 
  
2018
  
2017
 
Dividend yield
 
None
  
None
 
Average risk-free interest rate
  
2.7
%
  
2.0
%
Stock price volatility
  
27
%
  
27
%
Estimated option term
 
Six years
  
Six years
 
Employee Plan [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
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, 2018:

  
Outstanding Non-
Qualified or
Nonincentive Stock
Awards
  
Weighted Average
Exercise Price
 
Outstanding at December 31, 2017
  
654,655
  
$
66.45
 
Granted
  
115,797
  
$
75.50
 
Exercised
  
(283,886
)
 
$
67.71
 
Forfeited
  
(21,864
)
 
$
102.42
 
Outstanding at September 30, 2018
  
464,702
  
$
69.85
 
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, 2018:

   
Options Outstanding
 
Options Exercisable
Range ofExercise
Prices
  
Number
Outstanding
  
Weighted
Average
Remaining
Contractual
Life inYears
  
Weighted
Average
ExercisePrice
 
Aggregate
Intrinsic Value
 
Number
Exercisable
  
Weighted
Average
ExercisePrice
 
 Aggregate
Intrinsic Value
$51.23
   
90,975
   
4.3
  
$
51.23
    
57,438
  
$
51.23
   
$64.65 - $68.50
   
126,260
   
5.0
  
$
67.23
    
41,116
  
$
67.40
   
$70.65 - $75.50
   
207,156
   
4.7
  
$
74.56
    
91,359
  
$
73.36
   
$93.64 - $101.46
   
40,311
   
2.4
  
$
95.90
    
40,311
  
$
95.90
   
$51.23 - $101.46
   
464,702
   
4.5
  
$
69.85
 
$6,312,000
  
230,224
  
$
70.72
 
$3,204,000
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, 2018:

  
Unvested
RestrictedStock
AwardShares
  
Weighted
AverageGrant
DateFair Value
Per Share
 
Nonvested balance at December 31, 2017
  
364,121
  
$
65.84
 
Vested
  
(144,240
)
 
$
72.66
 
Forfeited
  
(3,949
)
 
$
64.68
 
Nonvested balance at September 30, 2018
  
215,932
  
$
64.73
 
RSU Activity
The following is a summary of RSU activity under the employee plan described above for the nine months ended September 30, 2018:

  
UnvestedRSUs
  
Weighted
AverageGrant
DateFair Value
Per Unit
 
Nonvested balance at December 31, 2017
  
—
  
$
—
 
Granted
  
143,890
  
$
75.59
 
Forfeited
  
(2,105
)
 
$
75.50
 
Nonvested balance at September 30, 2018
  
141,785
  
$
75.59
 
Director Plan [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
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, 2018:

  
Outstanding
Non-Qualified
orNonincentive
StockOptions
  
Weighted
Average
ExercisePrice
 
Outstanding at December 31, 2017
  
157,617
  
$
67.54
 
Granted
  
2,640
  
$
85.30
 
Exercised
  
(29,153
)
 
$
57.47
 
Outstanding at September 30, 2018
  
131,104
  
$
70.14
 
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, 2018:

   
Options Outstanding
 
Options Exercisable
Range ofExercise
Prices
  
Number
Outstanding
  
Weighted
Average
Remaining
Contractual
Life inYears
  
Weighted
Average
ExercisePrice
 
Aggregate
Intrinsic Value
 
Number
Exercisable
  
Weighted
Average
ExercisePrice
 
Aggregate
Intrinsic Value
$29.60
   
6,000
   
0.6
  
$
29.60
    
6,000
  
$
29.60
   
$41.24 – $56.45
   
31,276
   
2.2
  
$
50.61
    
31,276
  
$
50.61
   
$61.89 – $62.48
   
28,000
   
3.8
  
$
62.27
    
28,000
  
$
62.27
   
$70.65 – $99.52
   
65,828
   
5.4
  
$
86.45
    
64,508
  
$
86.48
   
$29.60 – $99.52
   
131,104
   
4.1
  
$
70.14
 
$2,114,000
  
129,784
  
$
69.98
 
$2,114,000
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, 2018:

  
Unvested
Restricted
StockAward
Shares
  
Weighted
Average
Grant Date
Fair Value
Per Share
 
       
Nonvested balance at December 31, 2017
  
319
  
$
70.65
 
Granted
  
21,373
  
$
85.70
 
Vested
  
(847
)
 
$
79.78
 
Nonvested balance at September 30, 2018
  
20,845
  
$
85.71