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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of compensation expense Stock-based compensation expense, which is included in selling and administrative expenses in the Consolidated Statement of Earnings, for the years ended December 31 follows:
(in millions)
 
2017
 
2016
 
2015
Stock option awards
 
$
7.7

 
$
6.1

 
$
5.1

Restricted stock awards
 
6.0

 
4.5

 
5.9

Performance share awards
 
5.6

 
4.7

 
6.3

Restricted stock units
 
1.4

 
1.2

 
1.1

Total stock-based compensation expense
 
$
20.7

 
$
16.5

 
$
18.4
Schedule of weighted-average assumptions for stock options The weighted average assumptions used in the determination of fair value for stock option awards for the years ended December 31 follows:
(in millions, except per share amounts)
 
2017
 
2016
 
2015
Expected dividend yield
 
1.3
%
 
1.4
%
 
1.1
%
Expected life (in years)
 
5.58

 
5.61

 
5.71

Expected volatility
 
25.6
%
 
27.5
%
 
27.3
%
Risk-free interest rate
 
1.9
%
 
1.4
%
 
1.4
%
Weighted-average grant date fair value (per share)
 
$
24.57

 
$
19.30

 
$
21.19

Fair value of options granted
 
$
8.8

 
$
7.2

 
$
6.7

Intrinsic value of options exercised
 
$
8.5

 
$
56.4

 
$
42.7

Fair value of options vested
 
$
5.4

 
$
4.7

 
$
4.6
Schedule of stock option activity under the Company's stock option awards A summary of stock options outstanding and activity during the year ended December 31, 2017, follows:
 
 
Number of Shares
 
Weighted-Average Exercise Price
 
Weighted-Average Contractual Term
 
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 2016
 
1,263,665

 
$
70.95

 
 
 
 
Options granted
 
364,675

 
107.63

 
 
 
 
Options exercised
 
(165,959
)
 
56.61

 
 
 
 
Options forfeited / expired
 
(31,069
)
 
92.49

 
 
 
 
Outstanding as of December 31, 2017
 
1,431,312

 
81.49

 
6.8
 
$
46.2

Vested and exercisable as of December 31, 2017
 
732,408

 
66.24

 
5.2
 
$
34.7
Schedule of activity related to restricted stock Information related to restricted stock awards during the years ended December 31 follows:
(in millions, except per share amounts)
 
2017
 
2016
 
2015
Weighted-average grant date fair value (per share)
 
$
106.78

 
$
84.73

 
$
90.54


A summary of restricted stock awards outstanding and activity during the year ended December 31, 2017, follows:
 
 
Number of Shares
 
Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2016
 
225,265

 
$
82.59

Shares granted
 
91,098

 
106.78

Shares vested
 
(105,282
)
 
77.41

Shares forfeited
 
(2,760
)
 
94.21

Outstanding as of December 31, 2017
 
208,321

 
95.63
Schedule of activity related to performance shares Information related to performance shares during the years ended December 31 follows:
(in millions, except per share amounts)
 
2017
 
2016
 
2015
Weighted-average grant date fair value (per share)
 
$
141.83

 
$
119.08

 
$
112.39


A summary of performance shares outstanding and activity during the year ended December 31, 2017, follows:
 
 
Number of Shares
 
Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2016
 
219,559

 
 
Units granted
 
47,285

 
$
141.83

Units converted (withheld)
 
(8,786
)
 
112.39

Units vested and issued
 
(86,619
)
 
95.72

Units vested and deferred
 
(17,413
)
 
95.72

Units forfeited
 
(2,760
)
 
126.66

Outstanding as of December 31, 2017
 
151,266

 
123.99