SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The weighted average assumptions for three months ended March 31, 2014 and 2013 are noted in the following table:



	Three Months Ended March 31,
	2014			2013
Expected life (years)	6.3			6.2
Expected volatility	34.6		%	36.2		%
Expected dividend yield	0.63		%	0.78		%
Risk-free interest rate	3.00		%	1.86		%
Weighted-average fair value per option	$	32.79		$	26.56

Summary of Stock Options and Stock-Settled SARS Activity

A summary of stock options and stock-settled SARS activity for the three months ended March 31, 2014 is presented below:



Options and Stock-Settled SARS Activity:	Number of Units		Weighted Average Exercise Price Per Unit		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2014	1,949,046		$	49.91
Granted	272,803		88.27
Exercised	(466,881	)	50.15
Forfeited	(1,972	)	77.21
Outstanding at March 31, 2014	1,752,996		$	55.78	6.7	$	73.3
Exercisable at March 31, 2014	1,179,420		$	46.07	5.5	$	60.8

Summary of Non-Vested Stock and Non-Vested Stock Units

A summary of non-vested stock and non-vested stock units for the three months ended March 31, 2014 is presented below:



Non-vested Stock and Non-vested Stock Units:	Number of Units		Weighted Average Grant Date Fair Value Per Unit
Nonvested at January 1, 2014	173,762		$	56.85
Granted	35,450		86.77
Vested	(38,533	)	51.48
Forfeited	(607	)	77.43
Nonvested at March 31, 2014	170,072		$	64.26

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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