Components of Equity

3 Months Ended

Mar. 31, 2016

Stockholders' Equity Note [Abstract]

Components of Equity

Components of Equity

The components of equity for the three months ended March 31,2016 and 2015 are as follows:

	Shareholders’ equity			Noncontrolling interest		Total equity
Balance at December 31, 2015	$	1,691,993		2,683		1,694,676
Exercise of stock options	41,635			—		41,635
Shares repurchased under provisions of stock repurchase plans	(70,292		)	—		(70,292	)
Stock compensation expense	10,831			—		10,831
Tax benefits from stock plans, net	(966		)	—		(966	)
Net earnings	96,584			463		97,047
Other comprehensive income	9,466			114		9,580
Balance at March 31, 2016	$	1,779,251		3,260		1,782,511
Balance at December 31, 2014	$	1,868,408		3,200		1,871,608
Exercise of stock options	35,048			—		35,048
Shares repurchased under provisions of stock repurchase plans	(77,368		)	—		(77,368	)
Stock compensation expense	9,907			—		9,907
Tax benefits from stock plans, net	1,466			—		1,466
Net earnings	106,704			628		107,332
Other comprehensive loss	(19,274		)	(331	)	(19,605	)
Distributions to noncontrolling interest	—			(857	)	(857	)
Balance at March 31, 2015	$	1,924,891		2,640		1,927,531

The Company has a Non-Discretionary Stock Repurchase Plan to repurchase shares from the proceeds of stock option exercises and employee stock purchases. During the three month periods ended March 31, 2016 and 2015, 423 and 459 shares were repurchased at an average price of $47.60 and $47.84 per share, respectively. The Company also has a Discretionary Stock Repurchase Plan approved by the Board of Directors that authorizes management to reduce issued and outstanding stock to 180 million shares of common stock. On May 3, 2016, the Board of Directors amended the plan to further authorize repurchases down to 170 million shares of common stock. During the three-month periods ended March 31, 2016 and 2015, 1,048 and 1,158 shares were repurchased at an average price of $47.87 and $47.87 per share, respectively.

Accumulated other comprehensive loss consisted entirely of foreign currency translation adjustments, net of related income tax effects, for all the periods presented.

Subsequent to the end of the first quarter, on May 3, 2016, the Board of Directors declared a semi-annual dividend of $0.40 per share payable on June 15, 2016 to shareholders of record as of June 1, 2016.