W.W. Grainger (GWW) 10-Q 26 Jul 18 2018 Q2 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION	6 Months Ended
	Jun. 30, 2018shares
Document and Entity Information [Abstract]
Entity Registrant Name	GRAINGER W W INC
Entity Central Index Key	277,135
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding	56,133,815

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Net sales	$ 2,860,212	$ 2,615,269	$ 5,626,613	$ 5,156,398
Cost of goods sold	1,749,271	1,575,313	3,423,913	3,097,250
Gross profit	1,110,941	1,039,956	2,202,700	2,059,148
Selling, general and administrative expenses	766,955	810,876	1,523,884	1,537,567
Operating earnings	343,986	229,080	678,816	521,581
Other income (expense):
Interest income	1,014	465	1,642	658
Interest expense	(22,924)	(22,468)	(47,589)	(41,181)
Losses from equity method investment	(3,043)	(6,121)	(14,540)	(14,495)
Other, net	4,327	6,240	12,025	11,306
Total other expense, net	(20,626)	(21,884)	(48,462)	(43,712)
Earnings before income taxes	323,360	207,196	630,354	477,869
Income taxes	75,617	100,237	141,826	188,057
Net earnings	247,743	106,959	488,528	289,812
Less: Net earnings attributable to noncontrolling interest	10,762	9,038	20,012	17,147
Net earnings attributable to W.W. Grainger, Inc.	$ 236,981	$ 97,921	$ 468,516	$ 272,665
Earnings per share:
Basic (in dollars per share)	$ 4.19	$ 1.68	$ 8.29	$ 4.64
Diluted (in dollars per share)	$ 4.16	$ 1.67	$ 8.23	$ 4.61
Weighted average number of shares outstanding:
Basic (in shares)	56,109,809	58,012,731	56,086,592	58,363,416
Diluted (in shares)	56,552,644	58,287,312	56,478,645	58,741,262
Cash dividends paid per share (in dollars per share)	$ 1.36	$ 1.28	$ 2.64	$ 2.50

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net earnings	$ 247,743	$ 106,959	$ 488,528	$ 289,812
Other comprehensive (losses) earnings:
Foreign currency translation adjustments (see Note 6)	(48,471)	46,543	(25,355)	75,846
Postretirement benefit plan reclassification, net of tax benefit of $825, $878, $1,650 and $1,757, respectively	(2,438)	(1,400)	(4,877)	(2,798)
Other	17	0	22	(12)
Total other comprehensive (losses) earnings	(50,892)	45,143	(30,210)	73,036
Comprehensive earnings, net of tax	196,851	152,102	458,318	362,848
Less: Comprehensive (losses) earnings attributable to noncontrolling interest
Net earnings	10,762	9,038	20,012	17,147
Foreign currency translation adjustments	(6,136)	(1,186)	2,224	4,346
Comprehensive earnings attributable to noncontrolling interest	4,626	7,852	22,236	21,493
Comprehensive earnings attributable to W.W. Grainger, Inc.	$ 192,225	$ 144,250	$ 436,082	$ 341,355

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (PARENTHETICAL) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Postretirement benefit plan reclassification, tax benefit	$ 825	$ 878	$ 1,650	$ 1,757

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 312,461	$ 326,876
Accounts receivable (less allowances for doubtful accounts of $26,560 and $29,267, respectively)	1,462,603	1,325,186
Inventories, net	1,464,181	1,429,199
Prepaid expenses and other assets	106,672	86,667
Prepaid income taxes	27,085	38,061
Total current assets	3,373,002	3,205,989
PROPERTY, BUILDING AND EQUIPMENT, NET	1,359,908	1,391,967
DEFERRED INCOME TAXES	27,619	22,362
GOODWILL	535,121	543,903
INTANGIBLES, NET	533,641	569,115
OTHER ASSETS	75,281	70,918
TOTAL ASSETS	5,904,572	5,804,254
CURRENT LIABILITIES
Short-term debt	54,222	55,603
Current maturities of long-term debt	30,172	38,709
Trade accounts payable	735,266	731,582
Accrued compensation and benefits	234,791	254,560
Accrued contributions to employees’ profit sharing plans	59,375	92,682
Accrued expenses	272,238	313,766
Income taxes payable	38,431	19,759
Total current liabilities	1,424,495	1,506,661
LONG-TERM DEBT (less current maturities)	2,210,358	2,248,036
DEFERRED INCOME TAXES AND TAX UNCERTAINTIES	117,209	111,710
EMPLOYMENT-RELATED AND OTHER NON-CURRENT LIABILITIES	102,241	110,114
SHAREHOLDERS' EQUITY
Cumulative Preferred Stock – $5 par value – 12,000,000 shares authorized; none issued nor outstanding	0	0
Common Stock – $0.50 par value – 300,000,000 shares authorized; 109,659,219 shares issued	54,830	54,830
Additional contributed capital	1,079,045	1,040,493
Retained earnings	7,724,635	7,405,192
Accumulated other comprehensive losses	(167,109)	(134,674)
Treasury stock, at cost – 53,525,404 and 53,330,356 shares, respectively	(6,797,280)	(6,675,709)
Total W.W. Grainger, Inc. shareholders’ equity	1,894,121	1,690,132
Noncontrolling interest	156,148	137,601
Total shareholders' equity	2,050,269	1,827,733
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 5,904,572	$ 5,804,254

CONDENSED CONSOLIDATED BALANCE6

CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 26,560	$ 29,267
Cumulative preferred stock, par value (in dollars per share)	$ 5	$ 5
Cumulative preferred stock, shares authorized	12,000,000	12,000,000
Cumulative preferred stock, shares issued	0	0
Cumulative preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.5	$ 0.5
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	109,659,219	109,659,219
Treasury stock, shares at cost	53,525,404	53,330,356

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 488,528	$ 289,812
Provision for losses on accounts receivable	3,618	12,769
Deferred income taxes and tax uncertainties	3,076	(7,339)
Depreciation and amortization	127,731	128,195
Net (gains) losses from sales of assets and non-cash charges	(14,131)	12,537
Stock-based compensation	27,833	20,030
Losses from equity method investment	14,540	14,495
Change in operating assets and liabilities:
Accounts receivable	(148,148)	(136,844)
Inventories	(44,340)	29,936
Prepaid expenses and other assets	(25,151)	(24,232)
Trade accounts payable	5,425	36,817
Other current liabilities	(60,089)	(18,989)
Current income taxes payable, net	28,544	6,360
Accrued employment-related benefits cost	(13,605)	3,655
Other, net	1,008	4,976
Net cash provided by operating activities	394,839	372,178
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property, buildings and equipment and intangibles	(103,083)	(131,147)
Proceeds from sales of assets	43,280	69,758
Equity method investment	(13,986)	(13,300)
Other, net	0	(146)
Net cash used in investing activities	(73,789)	(74,835)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in commercial paper	18	(269,841)
Borrowings under lines of credit	22,144	30,374
Payments against lines of credit	(22,308)	(18,036)
Proceeds from issuance of long-term debt	0	415,672
Payments of long-term debt	(36,063)	(7,799)
Proceeds from stock options exercised	87,134	27,064
Payments for employee taxes withheld from stock awards	(29,026)	(16,719)
Purchase of treasury stock	(200,878)	(313,562)
Cash dividends paid	(155,132)	(151,637)
Other, net	2,740	0
Net cash used in financing activities	(331,371)	(304,484)
Exchange rate effect on cash and cash equivalents	(4,094)	8,060
NET CHANGE IN CASH AND CASH EQUIVALENTS	(14,415)	919
Cash and cash equivalents at beginning of year	326,876	274,146
Cash and cash equivalents at end of period	$ 312,461	$ 275,065

BACKGROUND AND BASIS OF PRESENT

BACKGROUND AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BACKGROUND AND BASIS OF PRESENTATION	BACKGROUND AND BASIS OF PRESENTATION W.W. Grainger, Inc. is a broad line, business-to-business distributor of maintenance, repair and operating (MRO) supplies, and other related products and services. W.W. Grainger, Inc.’s operations are primarily in the United States (U.S.) and Canada, with a presence in Europe, Asia and Latin America. In this report, the words “Company” or “Grainger” mean W.W. Grainger, Inc. and its subsidiaries, except where the context makes it clear that the reference is only to W.W. Grainger, Inc. itself and not its subsidiaries. The Condensed Consolidated Financial Statements of the Company and the related notes are unaudited and should be read in conjunction with the consolidated financial statements and related notes for the year ended December 31, 2017 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on February 26, 2018. The Condensed Consolidated Balance Sheet as of December 31, 2017 has been derived from the audited consolidated financial statements at that date, but does not include all of the disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. The unaudited financial information reflects all adjustments (primarily consisting of normal recurring adjustments) which, in the opinion of management, are necessary for a fair presentation of the statements contained in this report.

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2016-02, Leases. This ASU improves transparency and comparability related to the accounting and reporting of leasing arrangements, including balance sheet recognition for assets and liabilities associated with rights and obligations created by leases with terms greater than twelve months, among other changes. In January 2018, the FASB issued ASU 2018-01, Leases: Land Easement Practical Expedient for Transition . This ASU clarifies the accounting and reporting of land easements. The effective date of these ASUs is for fiscal years and interim periods beginning after December 15, 2018 and early adoption is permitted. The Company has evaluated the provisions of the new standards and is in the process of assessing their impact on financial statements and disclosures, information systems and business processes. In March 2017, the FASB issued ASU 2017-07, Compensation Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (ASU 2017-07) . This ASU improves the presentation of net periodic pension cost and net periodic postretirement benefit cost. The effective date of this ASU was for fiscal years and interim periods beginning after December 15, 2017. The Company adopted this ASU as of January 1, 2018. This ASU was applied retrospectively for the presentation of the net periodic postretirement cost components in the Condensed Consolidated Statement of Earnings for the three and six months ended June 30, 2017 and prospectively, after the effective date. The guidance limiting the capitalization of net periodic benefit cost in assets to the service cost component is applied prospectively. The impact of the ASU for the three and six months ended June 30, 2017 was an increase of $ 3.0 million and $ 6.0 million, respectively, in Selling, general and administrative expenses (SG&A) offset by a reduction in Total other expense, net of $ 3.0 million and $ 6.0 million, respectively, related to the reclassification of interest cost, expected return on plan assets and amortization of unrecognized gains and prior service credits. See Note 8 to the Financial Statements. In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This ASU allows a reclassification from Accumulated other comprehensive earnings to Retained earnings for stranded tax effects resulting from the 2017 Tax Cuts and Jobs Act. The effective date of this ASU is for fiscal years and interim periods beginning after December 15, 2018, and early adoption is permitted. The Company has evaluated the provisions of this standard and is in the process of assessing the amount to reclassify from Accumulated other comprehensive losses to Retained earnings and early adoption.

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Company revenue is primarily comprised of MRO product sales and related activities, such as freight and services. Recognition The Company recognizes revenue when a sales arrangement with a customer exists (e.g., contract, purchase orders, others), transaction price is fixed or determinable and the Company has satisfied its performance obligation per the sales arrangement. Company sales arrangements have standard payment terms that do not exceed a year. The majority of Company revenue originates from contracts with a single performance obligation to deliver products, whereby the Company’s performance obligations are satisfied when control of the product is transferred to the customer per the arranged shipping terms. Some Company contracts contain a combination of product sales and services, which are distinct and accounted for as separate performance obligations. The Company’s performance obligations for services are satisfied when the services are rendered within the arranged service period. Total service revenue is not material and accounted for approximately 1% of total Company revenue for the three and six months ended June 30, 2018 . The Company records a contract asset when it has a right to payment from a customer that is conditioned on events other than the passage of time. The Company also records a contract liability when customers prepay but the Company has not yet satisfied its performance obligation. The Company did not have any material unsatisfied performance obligations, contract assets or liabilities as of June 30, 2018 and December 31, 2017 . Measurement The Company’s revenue is reported as Net sales and is measured as the determinable transaction price, net of any variable considerations (e.g., rights to return product, sales incentives, others) and any taxes collected from customers and subsequently remitted to governmental authorities. The Company considers shipping and handling as activities to fulfill its performance obligation. Billings for freight are accounted for as Net sales and shipping and handling costs are accounted for in Cost of goods sold. The Company offers customers rights to return product and sales incentives, which primarily consist of volume rebates. The Company’s rights of return and sales incentives generally do not exceed a year. The Company estimates sales returns and volume rebate accruals throughout the year based on various factors, including contract terms, historical experience and performance levels. Total accrued sales returns were approximately $ 26 million and $ 28 million as of June 30, 2018 and December 31, 2017 , respectively, and are reported as a reduction of Accounts receivable, net. Total accrued sales incentives were approximately $ 52 million and $ 55 million as of June 30, 2018 and December 31, 2017 , respectively, and are reported as part of Accrued expenses. Disaggregation of Revenues Grainger serves a large number of customers in diverse industries, which are subject to different economic and market specific factors. The Company's presentation of revenue by industry most reasonably depicts how the nature, amount, timing and uncertainty of Company revenue and cash flows are affected by economic and market specific factors. The following table presents the Company's percentage of revenue by reportable segment and by major customer industry for the three and six months ended June 30, 2018 : Three Months Ended June 30, 2018 U.S. Canada Total Company (2) Government 19 % 5 % 14 % Heavy Manufacturing 19 % 21 % 18 % Light Manufacturing 13 % 6 % 11 % Transportation 5 % 7 % 5 % Commercial 16 % 10 % 13 % Retail/Wholesale 8 % 4 % 7 % Contractors 10 % 11 % 8 % Natural Resources 3 % 33 % 4 % Other 7 % 3 % 20 % (1 ) Total net sales 100 % 100 % 100 % Percent of Total Company Revenue 72 % 6 % 100 % Six Months Ended June 30, 2018 U.S. Canada Total Company (2) Government 18 % 6 % 14 % Heavy Manufacturing 20 % 20 % 18 % Light Manufacturing 13 % 5 % 11 % Transportation 5 % 8 % 5 % Commercial 16 % 10 % 13 % Retail/Wholesale 8 % 4 % 7 % Contractors 10 % 12 % 8 % Natural Resources 3 % 32 % 4 % Other 7 % 3 % 20 % (1 ) Total net sales 100 % 100 % 100 % Percent of Total Company Revenue 72 % 6 % 100 % (1) Other category primarily includes revenue from individual customers not aligned to any industry segment, including small businesses and consumers and intersegment net sales. (2) Total Company includes other businesses, which include the Company's single channel businesses and operations in Europe, Asia and Latin America and account for approximately 22% of revenue for the three and six months ended June 30, 2018. Cost of Goods Sold Cost of goods sold included products and product-related costs, vendor consideration, shipping and handling costs and service costs.

PROPERTY, BUILDINGS AND EQUIPME

PROPERTY, BUILDINGS AND EQUIPMENT	6 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
PROPERTY, BUILDINGS AND EQUIPMENT	PROPERTY, BUILDINGS AND EQUIPMENT Property, buildings and equipment consisted of the following (in thousands of dollars): As of June 30, 2018 December 31, 2017 Land $ 339,010 $ 348,739 Building, structures and improvements 1,335,320 1,342,508 Furniture, fixtures, machinery and equipment 1,751,864 1,753,413 Property, buildings and equipment 3,426,194 $ 3,444,660 Less: Accumulated depreciation and amortization 2,066,286 2,052,693 Property, buildings and equipment, net $ 1,359,908 $ 1,391,967

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Grainger had approximately $1.1 billion of goodwill and intangible assets as of June 30, 2018 and December 31, 2017 . Grainger tests reporting units' goodwill and intangible assets for impairment annually during the fourth quarter and more frequently if impairment indicators exist. Accordingly, Grainger periodically performs qualitative assessments of significant events and circumstances such as reporting units' historical and current results, assumptions regarding future performance, strategic initiatives and overall economic factors to determine the existence of impairment indicators and assess if it is more likely than not that the fair value of reporting units or intangible assets is less than their carrying value and if a quantitative impairment test is necessary. In the quantitative test for goodwill and indefinite-lived intangible assets, Grainger compares the assets' carrying value with the fair value and records an impairment charge for any excess of carrying over fair value. For amortizable intangibles, an impairment loss is recognized when estimated undiscounted future cash flows resulting from use of the asset, including disposition, are less than the carrying value of the asset, and is measured as the amount by which the asset's carrying amount exceeds the fair value. Grainger's qualitative assessment for the six months ended June 30, 2018 did not indicate the presence of impairment triggering events. Changes in assumptions regarding discount rate and future performance, as well as the ability to execute on growth initiatives and productivity improvements, may have a significant impact on future cash flows. Likewise, an unfavorable economic environment and changes in market conditions or other factors may result in future impairments of goodwill and intangible assets.

RESTRUCTURING

RESTRUCTURING	6 Months Ended
	Jun. 30, 2018
Restructuring and Related Activities [Abstract]
RESTRUCTURING RESERVES	RESTRUCTURING The Company continues its previously announced restructuring actions to reduce costs in the U.S. and at the Company level (Unallocated expense) and to focus on profitability in Canada and other businesses. Restructuring costs, net, for the three and six months ended June 30, 2018 and 2017 are as follows (in thousands of dollars): Three Months Ended June 30, 2018 2017 Cost of goods sold Selling, general and administrative expenses Total Cost of goods sold Selling, general and administrative expenses Total Involuntary employee termination costs Other charges (gains) Involuntary employee termination costs Other charges (gains) U.S. $ 300 $ 5,686 $ (22 ) $ 5,964 $ — $ 5,359 $ (5,256 ) $ 103 Canada (34 ) 11,309 743 12,018 2,574 7,025 10,886 20,485 Other businesses 1,083 469 820 2,372 — 3,522 37,988 41,510 Unallocated expense — — (5,058 ) (5,058 ) — — — — Total $ 1,349 $ 17,464 $ (3,517 ) $ 15,296 $ 2,574 $ 15,906 $ 43,618 $ 62,098 Six Months Ended June 30, 2018 2017 Cost of goods sold Selling, general and administrative expenses Total Cost of goods sold Selling, general and administrative expenses Total Involuntary employee termination costs Other charges (gains) Involuntary employee termination costs Other charges (gains) U.S. $ 300 $ 8,680 $ (7,443 ) $ 1,537 $ — $ 8,542 $ (14,761 ) $ (6,219 ) Canada (422 ) 19,700 3,660 22,938 2,574 7,960 11,038 21,572 Other businesses 1,083 1,564 900 3,547 — 3,522 37,988 41,510 Unallocated expense — — (4,688 ) (4,688 ) — — — — Total $ 961 $ 29,944 $ (7,571 ) $ 23,334 $ 2,574 $ 20,024 $ 34,265 $ 56,863 Other charges (gains) primarily include asset impairment charges in Canada and other exit-related costs, net of gains from the sales of branches in the U.S., Canada and corporate offices. Other charges (gains) in 2017 reflect charges related to the wind-down of the Colombia business, including $16 million of accumulated foreign currency translation losses reclassified from Accumulated other comprehensive losses to SG&A in Other businesses. The following summarizes the restructuring activity for the six months ended June 30, 2018 (in thousands of dollars): Current asset write-downs Property, buildings and equipment write-downs and disposals Current liabilities Involuntary employee termination costs Lease termination costs Other costs Total Balances as of December 31, 2017 $ 13,101 $ 741 50,289 $ 4,893 $ 12,764 $ 81,788 Restructuring costs, net of (gains) 3,958 (11,893 ) 29,945 2,031 (707 ) 23,334 Cash (paid) received (844 ) 13,118 (28,594 ) (2,466 ) (1,425 ) (20,211 ) Non-cash, translation and other (10,843 ) (1,315 ) (1,030 ) (1,578 ) (2,195 ) (16,961 ) Balances as of June 30, 2018 $ 5,372 $ 651 $ 50,610 $ 2,880 $ 8,437 $ 67,950 The cumulative amounts incurred to date and expected through the end of 2019 (excluding results of sales of real estate) in connection with the Company's restructuring actions for active programs are as follows (in thousands of dollars): Cumulative amount incurred to date Additional amount expected U.S. $ 63,936 $ 5,888 Canada 81,405 8,901 Other businesses 64,263 1,485 Unallocated expense 14,852 — Total $ 224,456 $ 16,274

SHORT-TERM AND LONG-TERM DEBT

SHORT-TERM AND LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
SHORT-TERM AND LONG-TERM DEBT	SHORT-TERM AND LONG-TERM DEBT Short-term debt consisted of outstanding lines of credit. Long-term debt consisted of the following (in thousands of dollars): As of June 30, 2018 As of December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value 4.60% senior notes due 2045 $ 1,000,000 $ 1,035,950 $ 1,000,000 $ 1,089,000 3.75% senior notes due 2046 400,000 363,140 400,000 384,200 4.20% senior notes due 2047 400,000 390,800 400,000 410,800 British pound term loan 184,899 184,899 194,574 194,574 Euro term loan 128,514 128,514 131,956 131,956 Canadian dollar revolving credit facility 91,394 91,394 99,388 99,388 Capital lease obligations and other 58,593 58,593 84,274 84,274 Subtotal 2,263,400 2,253,290 2,310,192 2,394,192 Less current maturities (30,172 ) (30,172 ) (38,709 ) (38,709 ) Debt issuance costs and discounts (22,870 ) (22,870 ) (23,447 ) (23,447 ) Long-term debt (less current maturities) $ 2,210,358 $ 2,200,248 $ 2,248,036 $ 2,332,036 The estimated fair value of the Company’s senior notes was based on available external pricing data and current market rates for similar debt instruments, among other factors, which are classified as level 2 inputs within the fair value hierarchy. The carrying value of other long-term debt approximates fair value due to their variable interest rates.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	6 Months Ended
	Jun. 30, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
EMPLOYEE BENEFITS	EMPLOYEE BENEFITS The Company has a postretirement healthcare benefits plan that provides coverage for a majority of its U.S. employees hired prior to January 1, 2013. Effective January 1, 2018, the Company implemented plan design changes, which moved all post-65 Medicare eligible retirees to healthcare exchanges and provides them a subsidy, based on years of service, to purchase insurance. The net periodic benefits for the Company's postretirement healthcare benefits plan which are valued at the measurement date of January 1 for each year and recognized evenly throughout the year, consisted of the following (in thousands of dollars): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Selling, general and administrative expenses Service cost $ 1,629 $ 1,897 $ 3,258 $ 3,794 Other income (expense) Interest cost 1,712 2,148 3,424 4,297 Expected return on assets (3,315 ) (2,857 ) (6,630 ) (5,714 ) Amortization of unrecognized gains (840 ) (656 ) (1,680 ) (1,311 ) Amortization of prior service credits (2,424 ) (1,622 ) (4,848 ) (3,244 ) Net periodic benefit $ (3,238 ) $ (1,090 ) $ (6,476 ) $ (2,178 ) The Company has established a Group Benefit Trust (Trust) to fund postretirement healthcare plan obligations and process benefit payments. The Company has no minimum funding requirement and did not make a contribution to the Trust during the six months ended June 30, 2018 .

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2018
INCOME TAXES [Abstract]
INCOME TAXES	INCOME TAXES The Tax Cut and Jobs Act (the Tax Act) was enacted on December 22, 2017. The Company applied Staff Accounting Bulletin (SAB) 118 when accounting for the enactment-date effects of the Tax Act at December 31, 2017 and recorded estimates primarily related to the revaluation of deferred tax balances and the one-time transition tax. As of June 30, 2018 , the Company has not completed the analysis for all of the tax effects of the Tax Act and has not recorded any additional adjustments to the amounts recorded at December 31, 2017.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share under the two-class method (in thousands of dollars, except for share and per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Net earnings attributable to W.W. Grainger, Inc. as reported $ 236,981 $ 97,921 $ 468,516 $ 272,665 Distributed earnings available to participating securities (345 ) (427 ) (956 ) (973 ) Undistributed earnings available to participating securities (1,473 ) (217 ) (2,861 ) (1,159 ) Numerator for basic earnings per share – Undistributed and distributed earnings available to common shareholders 235,163 97,277 464,699 270,533 Undistributed earnings allocated to participating securities 1,473 217 2,861 1,159 Undistributed earnings reallocated to participating securities (1,462 ) (216 ) (2,841 ) (1,152 ) Numerator for diluted earnings per share – Undistributed and distributed earnings available to common shareholders $ 235,174 $ 97,278 $ 464,719 $ 270,540 Denominator for basic earnings per share – weighted average shares 56,109,809 58,012,731 56,086,592 58,363,416 Effect of dilutive securities 442,835 274,581 392,053 377,846 Denominator for diluted earnings per share – weighted average shares adjusted for dilutive securities 56,552,644 58,287,312 56,478,645 58,741,262 Earnings per share two-class method Basic $ 4.19 $ 1.68 $ 8.29 $ 4.64 Diluted $ 4.16 $ 1.67 $ 8.23 $ 4.61

DIVIDEND

DIVIDEND	6 Months Ended
	Jun. 30, 2018
Dividends [Abstract]
DIVIDEND	DIVIDEND On July 25, 2018 , the Company’s Board of Directors declared a quarterly dividend of $ 1.36 per share, payable September 1, 2018 , to shareholders of record on August 13, 2018 .

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Grainger's two reportable segments are the U.S. and Canada. These reportable segments reflect the results of the Company's businesses in those geographies, except for Zoro Tools, Inc. (Zoro), which is in the U.S. Other businesses include the Company's single channel businesses (Zoro and MonotaRO in Japan) and small operations in Europe, Asia and Latin America. These businesses individually do not meet the criteria of a reportable segment. Following is a summary of segment results (in thousands of dollars): Three Months Ended June 30, 2018 U.S. Canada Other businesses Total Total net sales $ 2,175,106 $ 176,868 $ 622,153 $ 2,974,127 Intersegment net sales (112,725 ) (15 ) (1,175 ) (113,915 ) Net sales to external customers $ 2,062,381 $ 176,853 $ 620,978 $ 2,860,212 Segment operating earnings $ 349,713 $ (13,667 ) $ 40,899 $ 376,945 Three Months Ended June 30, 2017 U.S. Canada Other businesses Total Total net sales $ 1,999,153 $ 189,113 $ 526,560 $ 2,714,826 Intersegment net sales (98,507 ) 10 (1,060 ) (99,557 ) Net sales to external customers $ 1,900,646 $ 189,123 $ 525,500 $ 2,615,269 Segment operating earnings $ 309,460 $ (27,727 ) $ (14,222 ) $ 267,511 Six Months Ended June 30, 2018 U.S. Canada Other businesses Total Total net sales $ 4,282,792 $ 358,633 $ 1,210,245 $ 5,851,670 Intersegment net sales (222,906 ) (33 ) (2,118 ) (225,057 ) Net sales to external customers $ 4,059,886 $ 358,600 $ 1,208,127 $ 5,626,613 Segment operating earnings $ 706,217 $ (33,824 ) $ 77,321 $ 749,714 Six Months Ended June 30, 2017 U.S. Canada Other businesses Total Total net sales $ 3,952,597 $ 375,254 $ 1,023,967 $ 5,351,818 Intersegment net sales (193,579 ) (3 ) (1,838 ) (195,420 ) Net sales to external customers $ 3,759,018 $ 375,251 $ 1,022,129 $ 5,156,398 Segment operating earnings $ 619,102 $ (44,456 ) $ 17,285 $ 591,931 Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Operating earnings: Segment operating earnings $ 376,945 $ 267,511 $ 749,714 $ 591,931 Unallocated expenses and eliminations (32,959 ) (38,431 ) (70,898 ) (70,350 ) Total consolidated operating earnings $ 343,986 $ 229,080 $ 678,816 $ 521,581 Segment and total consolidated operating earnings for the three and six months ended June 30, 2017 were restated for the implementation of ASU 2017-07. See Note 2 to the Financial Statements. Unallocated expenses and eliminations primarily relate to the Company's headquarters support services and intercompany eliminations, which are not part of any reportable segment. Unallocated expenses are primarily comprised of employee compensation costs, depreciation and other administrative costs. The Company is a broad-line distributor of MRO supplies, and other related products. Products are regularly added and deleted from the Company's inventory. Accordingly, it would be impractical to provide sales information by product category due to the way the business is managed. Following are reconciliations of segment assets with the total consolidated assets per the financial statements (in thousands of dollars): U.S. Canada Other businesses Total Segment assets: June 30, 2018 $ 2,485,497 $ 221,965 $ 656,490 $ 3,363,952 December 31, 2017 $ 2,309,734 $ 278,633 $ 605,452 $ 3,193,819 As of Total assets: June 30, 2018 December 31, 2017 Assets for reportable segments 3,363,952 3,193,819 Other current and non-current assets 2,439,023 2,428,074 Unallocated assets 101,597 182,361 Total consolidated assets $ 5,904,572 $ 5,804,254 Assets for reportable segments include net accounts receivable and first-in, first-out inventory which are reported to the Company's Chief Operating Decision Maker. Other current and non-current assets include all other assets of the reportable segments. Unallocated assets are primarily comprised of non-operating cash and cash equivalents, property, buildings and equipment, net, and certain prepaid expenses related to the Company's headquarters support services.

CONTINGENCIES AND LEGAL MATTERS

CONTINGENCIES AND LEGAL MATTERS	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES AND LEGAL MATTERS	CONTINGENCIES AND LEGAL MATTERS From time to time the Company is involved in various legal and administrative proceedings that are incidental to its business, including claims related to product liability, general negligence, contract disputes, cybersecurity incidents, privacy matters, environmental issues, wage and hour laws, intellectual property, employment practices, advertising laws, regulatory compliance, and other matters and actions brought by employees, customers, competitors, suppliers and governmental entities. As a government contractor selling to federal, state and local governmental entities, the Company is also subject to governmental and regulatory inquiries, audits and other proceedings, including those related to contract administration and pricing compliance. It is not expected that the ultimate resolution of any of these matters will have, either individually or in the aggregate, a material adverse effect on the Company's consolidated financial position or results of operations.

NEW ACCOUNTING STANDARDS (Polic

NEW ACCOUNTING STANDARDS (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
New Accounting Standards	NEW ACCOUNTING STANDARDS In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2016-02, Leases. This ASU improves transparency and comparability related to the accounting and reporting of leasing arrangements, including balance sheet recognition for assets and liabilities associated with rights and obligations created by leases with terms greater than twelve months, among other changes. In January 2018, the FASB issued ASU 2018-01, Leases: Land Easement Practical Expedient for Transition . This ASU clarifies the accounting and reporting of land easements. The effective date of these ASUs is for fiscal years and interim periods beginning after December 15, 2018 and early adoption is permitted. The Company has evaluated the provisions of the new standards and is in the process of assessing their impact on financial statements and disclosures, information systems and business processes. In March 2017, the FASB issued ASU 2017-07, Compensation Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (ASU 2017-07) . This ASU improves the presentation of net periodic pension cost and net periodic postretirement benefit cost. The effective date of this ASU was for fiscal years and interim periods beginning after December 15, 2017. The Company adopted this ASU as of January 1, 2018. This ASU was applied retrospectively for the presentation of the net periodic postretirement cost components in the Condensed Consolidated Statement of Earnings for the three and six months ended June 30, 2017 and prospectively, after the effective date. The guidance limiting the capitalization of net periodic benefit cost in assets to the service cost component is applied prospectively. The impact of the ASU for the three and six months ended June 30, 2017 was an increase of $ 3.0 million and $ 6.0 million, respectively, in Selling, general and administrative expenses (SG&A) offset by a reduction in Total other expense, net of $ 3.0 million and $ 6.0 million, respectively, related to the reclassification of interest cost, expected return on plan assets and amortization of unrecognized gains and prior service credits. See Note 8 to the Financial Statements. In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This ASU allows a reclassification from Accumulated other comprehensive earnings to Retained earnings for stranded tax effects resulting from the 2017 Tax Cuts and Jobs Act. The effective date of this ASU is for fiscal years and interim periods beginning after December 15, 2018, and early adoption is permitted. The Company has evaluated the provisions of this standard and is in the process of assessing the amount to reclassify from Accumulated other comprehensive losses to Retained earnings and early adoption.

REVENUE (Policies)

REVENUE (Policies)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Company revenue is primarily comprised of MRO product sales and related activities, such as freight and services. Recognition The Company recognizes revenue when a sales arrangement with a customer exists (e.g., contract, purchase orders, others), transaction price is fixed or determinable and the Company has satisfied its performance obligation per the sales arrangement. Company sales arrangements have standard payment terms that do not exceed a year. The majority of Company revenue originates from contracts with a single performance obligation to deliver products, whereby the Company’s performance obligations are satisfied when control of the product is transferred to the customer per the arranged shipping terms. Some Company contracts contain a combination of product sales and services, which are distinct and accounted for as separate performance obligations. The Company’s performance obligations for services are satisfied when the services are rendered within the arranged service period. Total service revenue is not material and accounted for approximately 1% of total Company revenue for the three and six months ended June 30, 2018 . The Company records a contract asset when it has a right to payment from a customer that is conditioned on events other than the passage of time. The Company also records a contract liability when customers prepay but the Company has not yet satisfied its performance obligation. The Company did not have any material unsatisfied performance obligations, contract assets or liabilities as of June 30, 2018 and December 31, 2017 . Measurement The Company’s revenue is reported as Net sales and is measured as the determinable transaction price, net of any variable considerations (e.g., rights to return product, sales incentives, others) and any taxes collected from customers and subsequently remitted to governmental authorities. The Company considers shipping and handling as activities to fulfill its performance obligation. Billings for freight are accounted for as Net sales and shipping and handling costs are accounted for in Cost of goods sold. The Company offers customers rights to return product and sales incentives, which primarily consist of volume rebates. The Company’s rights of return and sales incentives generally do not exceed a year. The Company estimates sales returns and volume rebate accruals throughout the year based on various factors, including contract terms, historical experience and performance levels.

GOODWILL AND OTHER INTANGIBLE23

GOODWILL AND OTHER INTANGIBLE ASSETS (Policies)	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Grainger tests reporting units' goodwill and intangible assets for impairment annually during the fourth quarter and more frequently if impairment indicators exist. Accordingly, Grainger periodically performs qualitative assessments of significant events and circumstances such as reporting units' historical and current results, assumptions regarding future performance, strategic initiatives and overall economic factors to determine the existence of impairment indicators and assess if it is more likely than not that the fair value of reporting units or intangible assets is less than their carrying value and if a quantitative impairment test is necessary. In the quantitative test for goodwill and indefinite-lived intangible assets, Grainger compares the assets' carrying value with the fair value and records an impairment charge for any excess of carrying over fair value. For amortizable intangibles, an impairment loss is recognized when estimated undiscounted future cash flows resulting from use of the asset, including disposition, are less than the carrying value of the asset, and is measured as the amount by which the asset's carrying amount exceeds the fair value.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Disaggregation of Revenues	The following table presents the Company's percentage of revenue by reportable segment and by major customer industry for the three and six months ended June 30, 2018 : Three Months Ended June 30, 2018 U.S. Canada Total Company (2) Government 19 % 5 % 14 % Heavy Manufacturing 19 % 21 % 18 % Light Manufacturing 13 % 6 % 11 % Transportation 5 % 7 % 5 % Commercial 16 % 10 % 13 % Retail/Wholesale 8 % 4 % 7 % Contractors 10 % 11 % 8 % Natural Resources 3 % 33 % 4 % Other 7 % 3 % 20 % (1 ) Total net sales 100 % 100 % 100 % Percent of Total Company Revenue 72 % 6 % 100 % Six Months Ended June 30, 2018 U.S. Canada Total Company (2) Government 18 % 6 % 14 % Heavy Manufacturing 20 % 20 % 18 % Light Manufacturing 13 % 5 % 11 % Transportation 5 % 8 % 5 % Commercial 16 % 10 % 13 % Retail/Wholesale 8 % 4 % 7 % Contractors 10 % 12 % 8 % Natural Resources 3 % 32 % 4 % Other 7 % 3 % 20 % (1 ) Total net sales 100 % 100 % 100 % Percent of Total Company Revenue 72 % 6 % 100 % (1) Other category primarily includes revenue from individual customers not aligned to any industry segment, including small businesses and consumers and intersegment net sales. (2) Total Company includes other businesses, which include the Company's single channel businesses and operations in Europe, Asia and Latin America and account for approximately 22% of revenue for the three and six months ended June 30, 2018.

PROPERTY, BUILDINGS AND EQUIP25

PROPERTY, BUILDINGS AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Line Items]
PROPERTY, BUILDINGS AND EQUIPMENT	Property, buildings and equipment consisted of the following (in thousands of dollars): As of June 30, 2018 December 31, 2017 Land $ 339,010 $ 348,739 Building, structures and improvements 1,335,320 1,342,508 Furniture, fixtures, machinery and equipment 1,751,864 1,753,413 Property, buildings and equipment 3,426,194 $ 3,444,660 Less: Accumulated depreciation and amortization 2,066,286 2,052,693 Property, buildings and equipment, net $ 1,359,908 $ 1,391,967

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	6 Months Ended
	Jun. 30, 2018
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Costs, Cumulative Amounts Incurred to Date and Expected	The cumulative amounts incurred to date and expected through the end of 2019 (excluding results of sales of real estate) in connection with the Company's restructuring actions for active programs are as follows (in thousands of dollars): Cumulative amount incurred to date Additional amount expected U.S. $ 63,936 $ 5,888 Canada 81,405 8,901 Other businesses 64,263 1,485 Unallocated expense 14,852 — Total $ 224,456 $ 16,274 Restructuring costs, net, for the three and six months ended June 30, 2018 and 2017 are as follows (in thousands of dollars): Three Months Ended June 30, 2018 2017 Cost of goods sold Selling, general and administrative expenses Total Cost of goods sold Selling, general and administrative expenses Total Involuntary employee termination costs Other charges (gains) Involuntary employee termination costs Other charges (gains) U.S. $ 300 $ 5,686 $ (22 ) $ 5,964 $ — $ 5,359 $ (5,256 ) $ 103 Canada (34 ) 11,309 743 12,018 2,574 7,025 10,886 20,485 Other businesses 1,083 469 820 2,372 — 3,522 37,988 41,510 Unallocated expense — — (5,058 ) (5,058 ) — — — — Total $ 1,349 $ 17,464 $ (3,517 ) $ 15,296 $ 2,574 $ 15,906 $ 43,618 $ 62,098 Six Months Ended June 30, 2018 2017 Cost of goods sold Selling, general and administrative expenses Total Cost of goods sold Selling, general and administrative expenses Total Involuntary employee termination costs Other charges (gains) Involuntary employee termination costs Other charges (gains) U.S. $ 300 $ 8,680 $ (7,443 ) $ 1,537 $ — $ 8,542 $ (14,761 ) $ (6,219 ) Canada (422 ) 19,700 3,660 22,938 2,574 7,960 11,038 21,572 Other businesses 1,083 1,564 900 3,547 — 3,522 37,988 41,510 Unallocated expense — — (4,688 ) (4,688 ) — — — — Total $ 961 $ 29,944 $ (7,571 ) $ 23,334 $ 2,574 $ 20,024 $ 34,265 $ 56,863
Summary Of Restructuring Reserve Activity	The following summarizes the restructuring activity for the six months ended June 30, 2018 (in thousands of dollars): Current asset write-downs Property, buildings and equipment write-downs and disposals Current liabilities Involuntary employee termination costs Lease termination costs Other costs Total Balances as of December 31, 2017 $ 13,101 $ 741 50,289 $ 4,893 $ 12,764 $ 81,788 Restructuring costs, net of (gains) 3,958 (11,893 ) 29,945 2,031 (707 ) 23,334 Cash (paid) received (844 ) 13,118 (28,594 ) (2,466 ) (1,425 ) (20,211 ) Non-cash, translation and other (10,843 ) (1,315 ) (1,030 ) (1,578 ) (2,195 ) (16,961 ) Balances as of June 30, 2018 $ 5,372 $ 651 $ 50,610 $ 2,880 $ 8,437 $ 67,950

SHORT-TERM AND LONG-TERM DEBT (

SHORT-TERM AND LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	Long-term debt consisted of the following (in thousands of dollars): As of June 30, 2018 As of December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value 4.60% senior notes due 2045 $ 1,000,000 $ 1,035,950 $ 1,000,000 $ 1,089,000 3.75% senior notes due 2046 400,000 363,140 400,000 384,200 4.20% senior notes due 2047 400,000 390,800 400,000 410,800 British pound term loan 184,899 184,899 194,574 194,574 Euro term loan 128,514 128,514 131,956 131,956 Canadian dollar revolving credit facility 91,394 91,394 99,388 99,388 Capital lease obligations and other 58,593 58,593 84,274 84,274 Subtotal 2,263,400 2,253,290 2,310,192 2,394,192 Less current maturities (30,172 ) (30,172 ) (38,709 ) (38,709 ) Debt issuance costs and discounts (22,870 ) (22,870 ) (23,447 ) (23,447 ) Long-term debt (less current maturities) $ 2,210,358 $ 2,200,248 $ 2,248,036 $ 2,332,036

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	6 Months Ended
	Jun. 30, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Net Periodic Benefit Costs Charged to Operating Expenses	The net periodic benefits for the Company's postretirement healthcare benefits plan which are valued at the measurement date of January 1 for each year and recognized evenly throughout the year, consisted of the following (in thousands of dollars): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Selling, general and administrative expenses Service cost $ 1,629 $ 1,897 $ 3,258 $ 3,794 Other income (expense) Interest cost 1,712 2,148 3,424 4,297 Expected return on assets (3,315 ) (2,857 ) (6,630 ) (5,714 ) Amortization of unrecognized gains (840 ) (656 ) (1,680 ) (1,311 ) Amortization of prior service credits (2,424 ) (1,622 ) (4,848 ) (3,244 ) Net periodic benefit $ (3,238 ) $ (1,090 ) $ (6,476 ) $ (2,178 )

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings per Share under Two-Class Method	The following table sets forth the computation of basic and diluted earnings per share under the two-class method (in thousands of dollars, except for share and per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Net earnings attributable to W.W. Grainger, Inc. as reported $ 236,981 $ 97,921 $ 468,516 $ 272,665 Distributed earnings available to participating securities (345 ) (427 ) (956 ) (973 ) Undistributed earnings available to participating securities (1,473 ) (217 ) (2,861 ) (1,159 ) Numerator for basic earnings per share – Undistributed and distributed earnings available to common shareholders 235,163 97,277 464,699 270,533 Undistributed earnings allocated to participating securities 1,473 217 2,861 1,159 Undistributed earnings reallocated to participating securities (1,462 ) (216 ) (2,841 ) (1,152 ) Numerator for diluted earnings per share – Undistributed and distributed earnings available to common shareholders $ 235,174 $ 97,278 $ 464,719 $ 270,540 Denominator for basic earnings per share – weighted average shares 56,109,809 58,012,731 56,086,592 58,363,416 Effect of dilutive securities 442,835 274,581 392,053 377,846 Denominator for diluted earnings per share – weighted average shares adjusted for dilutive securities 56,552,644 58,287,312 56,478,645 58,741,262 Earnings per share two-class method Basic $ 4.19 $ 1.68 $ 8.29 $ 4.64 Diluted $ 4.16 $ 1.67 $ 8.23 $ 4.61

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Summary of Segment Results	Following is a summary of segment results (in thousands of dollars): Three Months Ended June 30, 2018 U.S. Canada Other businesses Total Total net sales $ 2,175,106 $ 176,868 $ 622,153 $ 2,974,127 Intersegment net sales (112,725 ) (15 ) (1,175 ) (113,915 ) Net sales to external customers $ 2,062,381 $ 176,853 $ 620,978 $ 2,860,212 Segment operating earnings $ 349,713 $ (13,667 ) $ 40,899 $ 376,945 Three Months Ended June 30, 2017 U.S. Canada Other businesses Total Total net sales $ 1,999,153 $ 189,113 $ 526,560 $ 2,714,826 Intersegment net sales (98,507 ) 10 (1,060 ) (99,557 ) Net sales to external customers $ 1,900,646 $ 189,123 $ 525,500 $ 2,615,269 Segment operating earnings $ 309,460 $ (27,727 ) $ (14,222 ) $ 267,511 Six Months Ended June 30, 2018 U.S. Canada Other businesses Total Total net sales $ 4,282,792 $ 358,633 $ 1,210,245 $ 5,851,670 Intersegment net sales (222,906 ) (33 ) (2,118 ) (225,057 ) Net sales to external customers $ 4,059,886 $ 358,600 $ 1,208,127 $ 5,626,613 Segment operating earnings $ 706,217 $ (33,824 ) $ 77,321 $ 749,714 Six Months Ended June 30, 2017 U.S. Canada Other businesses Total Total net sales $ 3,952,597 $ 375,254 $ 1,023,967 $ 5,351,818 Intersegment net sales (193,579 ) (3 ) (1,838 ) (195,420 ) Net sales to external customers $ 3,759,018 $ 375,251 $ 1,022,129 $ 5,156,398 Segment operating earnings $ 619,102 $ (44,456 ) $ 17,285 $ 591,931
Schedule of Reconciliation of Operating Earnings from Segment to Consolidated	Following are reconciliations of segment assets with the total consolidated assets per the financial statements (in thousands of dollars): U.S. Canada Other businesses Total Segment assets: June 30, 2018 $ 2,485,497 $ 221,965 $ 656,490 $ 3,363,952 December 31, 2017 $ 2,309,734 $ 278,633 $ 605,452 $ 3,193,819
Schedule of Reconciliation of Assets from Segment to Consolidated	Following are reconciliations of segment assets with the total consolidated assets per the financial statements (in thousands of dollars): U.S. Canada Other businesses Total Segment assets: June 30, 2018 $ 2,485,497 $ 221,965 $ 656,490 $ 3,363,952 December 31, 2017 $ 2,309,734 $ 278,633 $ 605,452 $ 3,193,819 As of Total assets: June 30, 2018 December 31, 2017 Assets for reportable segments 3,363,952 3,193,819 Other current and non-current assets 2,439,023 2,428,074 Unallocated assets 101,597 182,361 Total consolidated assets $ 5,904,572 $ 5,804,254

NEW ACCOUNTING STANDARDS (Detai

NEW ACCOUNTING STANDARDS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative expenses	$ 766,955	$ 810,876	$ 1,523,884	$ 1,537,567
Nonoperating Income (Expense)	$ 20,626	21,884	$ 48,462	43,712
Accounting Standards Update 2017-07 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative expenses		3,000		6,000
Nonoperating Income (Expense)		$ 3,000		$ 6,000

REVENUE Narrative (Details)

REVENUE Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Accrued sales returns	$ 26	$ 26	$ 28
Accrued sales incentives	$ 52	$ 52	$ 55
Service Revenue [Member]
Disaggregation of Revenue [Line Items]
Percent of Total Company Revenue	1.00%	1.00%

REVENUE (Details)

REVENUE (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	100.00%	100.00%
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage Of Company-Wide Revenue	100.00%	100.00%
Government [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	14.00%	14.00%
Heavy Manufacturing [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	18.00%	18.00%
Light Manufacturing [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	11.00%	11.00%
Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	5.00%	5.00%
Commercial [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	13.00%	13.00%
Retail/Wholesale [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	7.00%	7.00%
Contractors [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	8.00%	8.00%
Natural Resources [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	4.00%	4.00%
Other [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	20.00%	20.00%
Other Segments [Member]
Disaggregation of Revenue [Line Items]
Percent of Total Company Revenue	22.00%	22.00%
United States [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	100.00%	100.00%
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage Of Company-Wide Revenue	72.00%	72.00%
United States [Member] | Government [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	19.00%	18.00%
United States [Member] | Heavy Manufacturing [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	19.00%	20.00%
United States [Member] | Light Manufacturing [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	13.00%	13.00%
United States [Member] | Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	5.00%	5.00%
United States [Member] | Commercial [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	16.00%	16.00%
United States [Member] | Retail/Wholesale [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	8.00%	8.00%
United States [Member] | Contractors [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	10.00%	10.00%
United States [Member] | Natural Resources [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	3.00%	3.00%
United States [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	7.00%	7.00%
Canada [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	100.00%	100.00%
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage Of Company-Wide Revenue	6.00%	6.00%
Canada [Member] | Government [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	5.00%	6.00%
Canada [Member] | Heavy Manufacturing [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	21.00%	20.00%
Canada [Member] | Light Manufacturing [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	6.00%	5.00%
Canada [Member] | Transportation [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	7.00%	8.00%
Canada [Member] | Commercial [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	10.00%	10.00%
Canada [Member] | Retail/Wholesale [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	4.00%	4.00%
Canada [Member] | Contractors [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	11.00%	12.00%
Canada [Member] | Natural Resources [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	33.00%	32.00%
Canada [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue From Contract With Customer, Excluding Assessed Tax, Percentage	3.00%	3.00%

PROPERTY, BUILDINGS AND EQUIP34

PROPERTY, BUILDINGS AND EQUIPMENT (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
PROPERTY, BUILDINGS AND EQUIPMENT	$ 3,426,194	$ 3,444,660
Less: Accumulated depreciation and amortization	2,066,286	2,052,693
PROPERTY, BUILDINGS AND EQUIPMENT, NET	1,359,908	1,391,967
Land [Member]
Property, Plant and Equipment [Line Items]
PROPERTY, BUILDINGS AND EQUIPMENT	339,010	348,739
Building, Structures and Improvements [Member]
Property, Plant and Equipment [Line Items]
PROPERTY, BUILDINGS AND EQUIPMENT	1,335,320	1,342,508
Furniture, Fixtures, Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
PROPERTY, BUILDINGS AND EQUIPMENT	$ 1,751,864	$ 1,753,413

GOODWILL AND OTHER INTANGIBLE35

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Billions	Jun. 30, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	$ 1.1	$ 1.1

RESTRUCTURING - Schedule of Res

RESTRUCTURING - Schedule of Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Restructuring Cost and Reserve [Line Items]
Cost of merchandise sold	$ 1,349	$ 2,574	$ 961	$ 2,574
Involuntary employee termination costs	17,464	15,906	29,944	20,024
Other charges (gains)	(3,517)	43,618	(7,571)	34,265
Total	15,296	62,098	23,334	56,863
Accumulated foreign currency translations losses reclassified from Accumulated other comprehensive losses					$ 16,000
Segments | United States [Member]
Restructuring Cost and Reserve [Line Items]
Cost of merchandise sold	300	0	300	0
Involuntary employee termination costs	5,686	5,359	8,680	8,542
Other charges (gains)	(22)	(5,256)	(7,443)	(14,761)
Total	5,964	103	1,537	(6,219)
Segments | Canada [Member]
Restructuring Cost and Reserve [Line Items]
Cost of merchandise sold	(34)	2,574	(422)	2,574
Involuntary employee termination costs	11,309	7,025	19,700	7,960
Other charges (gains)	743	10,886	3,660	11,038
Total	12,018	20,485	22,938	21,572
Segments | Other Segments [Member]
Restructuring Cost and Reserve [Line Items]
Cost of merchandise sold	1,083	0	1,083	0
Involuntary employee termination costs	469	3,522	1,564	3,522
Other charges (gains)	820	37,988	900	37,988
Total	2,372	41,510	3,547	41,510
Unallocated expense
Restructuring Cost and Reserve [Line Items]
Cost of merchandise sold	0	0	0	0
Involuntary employee termination costs	0	0	0	0
Other charges (gains)	(5,058)	0	(4,688)	0
Total	$ (5,058)	$ 0	$ (4,688)	$ 0

RESTRUCTURING - Summary Of Rest

RESTRUCTURING - Summary Of Restructuring Reserve Activity (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Restructuring Reserve
Beginning balance	$ 81,788
Restructuring costs, net of (gains)	23,334
Cash (paid) received	(20,211)
Non-cash, translation and others	(16,961)
Ending balance	67,950
Current assets write-downs
Restructuring Reserve
Beginning balance	13,101
Restructuring costs, net of (gains)	3,958
Cash (paid) received	(844)
Non-cash, translation and others	(10,843)
Ending balance	5,372
Fixed assets write-downs and disposals
Restructuring Reserve
Beginning balance	741
Restructuring costs, net of (gains)	(11,893)
Cash (paid) received	13,118
Non-cash, translation and others	(1,315)
Ending balance	651
Involuntary employee termination costs
Restructuring Reserve
Beginning balance	50,289
Restructuring costs, net of (gains)	29,945
Cash (paid) received	(28,594)
Non-cash, translation and others	(1,030)
Ending balance	50,610
Lease termination costs
Restructuring Reserve
Beginning balance	4,893
Restructuring costs, net of (gains)	2,031
Cash (paid) received	(2,466)
Non-cash, translation and others	(1,578)
Ending balance	2,880
Other costs
Restructuring Reserve
Beginning balance	12,764
Restructuring costs, net of (gains)	(707)
Cash (paid) received	(1,425)
Non-cash, translation and others	(2,195)
Ending balance	$ 8,437

RESTRUCTURING - Schedule of Cum

RESTRUCTURING - Schedule of Cumulative Amounts Incurred to Date and Expected (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	$ 224,456
Additional amount expected	16,274
Segments | United States [Member]
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	63,936
Additional amount expected	5,888
Segments | Canada [Member]
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	81,405
Additional amount expected	8,901
Segments | Other Segments [Member]
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	64,263
Additional amount expected	1,485
Unallocated expense
Restructuring Cost and Reserve [Line Items]
Cumulative amount incurred to date	14,852
Additional amount expected	$ 0

SHORT-TERM AND LONG-TERM DEBT -

SHORT-TERM AND LONG-TERM DEBT - Schedule of Long-Term Debt Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Capital lease obligations and other	$ 58,593	$ 84,274
Capital lease obligations and other, fair value	58,593	84,274
Long-term debt, gross	2,263,400	2,310,192
Long-term debt, gross, fair value	2,253,290	2,394,192
Less current maturities	(30,172)	(38,709)
Less current maturities, fair value	(30,172)	(38,709)
Debt issuance costs and discounts	(22,870)	(23,447)
Debt issuance costs and discounts, fair value	(22,870)	(23,447)
Long-term debt, excluding current maturities	2,210,358	2,248,036
Long-term debt, excluding current maturities, , fair value	2,200,248	2,332,036
British pound denominated term loan and revolving credit facility [Member]
Debt Instrument [Line Items]
Long-term debt	184,899	194,574
Long-term debt, fair value	184,899	194,574
Euro denominated term loan and revolving credit facility [Member]
Debt Instrument [Line Items]
Long-term debt	128,514	131,956
Long-term debt, fair value	128,514	131,956
Canadian dollar revolving credit facility [Member]
Debt Instrument [Line Items]
Long-term debt	91,394	99,388
Long-term debt, fair value	91,394	99,388
Senior Notes, 4.60% due 2045 [Member] | Senior notes [Member]
Debt Instrument [Line Items]
Long-term debt	1,000,000	1,000,000
Long-term debt, fair value	1,035,950	1,089,000
Senior Notes, 3.75% due 2046 [Member] | Senior notes [Member]
Debt Instrument [Line Items]
Long-term debt	400,000	400,000
Long-term debt, fair value	363,140	384,200
Senior Notes, 4.20% due 2047 [Member] | Senior notes [Member]
Debt Instrument [Line Items]
Long-term debt	400,000	400,000
Long-term debt, fair value	$ 390,800	$ 410,800

EMPLOYEE BENEFITS - Schedule of

EMPLOYEE BENEFITS - Schedule of Net Periodic Benefit Costs Charged to Operating Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Service cost	$ 1,629	$ 1,897	$ 3,258	$ 3,794
Interest cost	1,712	2,148	3,424	4,297
Expected return on assets	(3,315)	(2,857)	(6,630)	(5,714)
Amortization of unrecognized gains	(840)	(656)	(1,680)	(1,311)
Amortization of prior service credits	(2,424)	(1,622)	(4,848)	(3,244)
Net periodic benefit	$ (3,238)	$ (1,090)	$ (6,476)	$ (2,178)

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Computation of Basic and Diluted Earnings per Share under Two-Class Method (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Net earnings attributable to W.W. Grainger, Inc. as reported	$ 236,981	$ 97,921	$ 468,516	$ 272,665
Distributed earnings available to participating securities	(345)	(427)	(956)	(973)
Undistributed earnings available to participating securities	(1,473)	(217)	(2,861)	(1,159)
Numerator for basic earnings per share – Undistributed and distributed earnings available to common shareholders	235,163	97,277	464,699	270,533
Undistributed earnings allocated to participating securities	1,473	217	2,861	1,159
Undistributed earnings reallocated to participating securities	(1,462)	(216)	(2,841)	(1,152)
Numerator for diluted earnings per share – Undistributed and distributed earnings available to common shareholders	$ 235,174	$ 97,278	$ 464,719	$ 270,540
Denominator for basic earnings per share - weighted average shares (in shares)	56,109,809	58,012,731	56,086,592	58,363,416
Effect of dilutive securities (in shares)	442,835	274,581	392,053	377,846
Denominator for diluted earnings per share - weighted average shares adjusted for dilutive securities (in shares)	56,552,644	58,287,312	56,478,645	58,741,262
Basic (in dollars per share)	$ 4.19	$ 1.68	$ 8.29	$ 4.64
Diluted (in dollars per share)	$ 4.16	$ 1.67	$ 8.23	$ 4.61

DIVIDEND - Narrative (Details)

DIVIDEND - Narrative (Details)	Jul. 25, 2018$ / shares
Subsequent event
Subsequent Event [Line Items]
Dividend declared (in dollars per share)	$ 1.36

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	6 Months Ended
	Jun. 30, 2018segment
Segment Reporting Information [Line Items]
Number of reportable segments	2

SEGMENT INFORMATION - Summary o

SEGMENT INFORMATION - Summary of Segment Results (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
TOTAL ASSETS	$ 5,904,572		$ 5,904,572		$ 5,804,254
Summarized Information
Net sales to external customers	2,860,212	$ 2,615,269	5,626,613	$ 5,156,398
Total consolidated operating earnings	343,986	229,080	678,816	521,581
United States [Member]
Segment Reporting Information [Line Items]
TOTAL ASSETS	2,485,497		2,485,497		2,309,734
Summarized Information
Net sales to external customers	2,062,381	1,900,646	4,059,886	3,759,018
Canada [Member]
Segment Reporting Information [Line Items]
TOTAL ASSETS	221,965		221,965		278,633
Summarized Information
Net sales to external customers	176,853	189,123	358,600	375,251
Other Businesses [Member]
Segment Reporting Information [Line Items]
TOTAL ASSETS	656,490		656,490		605,452
Summarized Information
Net sales to external customers	620,978	525,500	1,208,127	1,022,129
Segment Balances Before Intersegment Eliminations and Consolidation Reconciling Items [Member]
Segment Reporting Information [Line Items]
TOTAL ASSETS	3,363,952		3,363,952		$ 3,193,819
Summarized Information
Net sales to external customers	2,974,127	2,714,826	5,851,670	5,351,818
Total consolidated operating earnings	376,945	267,511	749,714	591,931
Segment Balances Before Intersegment Eliminations and Consolidation Reconciling Items [Member] | United States [Member]
Summarized Information
Net sales to external customers	2,175,106	1,999,153	4,282,792	3,952,597
Total consolidated operating earnings	349,713	309,460	706,217	619,102
Segment Balances Before Intersegment Eliminations and Consolidation Reconciling Items [Member] | Canada [Member]
Summarized Information
Net sales to external customers	176,868	189,113	358,633	375,254
Total consolidated operating earnings	(13,667)	(27,727)	(33,824)	(44,456)
Segment Balances Before Intersegment Eliminations and Consolidation Reconciling Items [Member] | Other Businesses [Member]
Summarized Information
Net sales to external customers	622,153	526,560	1,210,245	1,023,967
Total consolidated operating earnings	40,899	(14,222)	77,321	17,285
Intersegment Eliminations [Member]
Summarized Information
Net sales to external customers	(113,915)	(99,557)	(225,057)	(195,420)
Intersegment Eliminations [Member] | United States [Member]
Summarized Information
Net sales to external customers	(112,725)	(98,507)	(222,906)	(193,579)
Intersegment Eliminations [Member] | Canada [Member]
Summarized Information
Net sales to external customers	(15)	10	(33)	(3)
Intersegment Eliminations [Member] | Other Businesses [Member]
Summarized Information
Net sales to external customers	$ (1,175)	$ (1,060)	$ (2,118)	$ (1,838)

SEGMENT INFORMATION - Schedule

SEGMENT INFORMATION - Schedule of Reconciliation of Operating Earnings from Segment to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Total consolidated operating earnings	$ 343,986	$ 229,080	$ 678,816	$ 521,581
Segment Balances Before Intersegment Eliminations and Consolidation Reconciling Items [Member]
Segment Reporting Information [Line Items]
Total consolidated operating earnings	376,945	267,511	749,714	591,931
Eliminations and Unallocated in Consolidation [Member]
Segment Reporting Information [Line Items]
Total consolidated operating earnings	$ (32,959)	$ (38,431)	$ (70,898)	$ (70,350)

SEGMENT INFORMATION - Schedul46

SEGMENT INFORMATION - Schedule of Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
TOTAL ASSETS	$ 5,904,572	$ 5,804,254
Segment Balances Before Intersegment Eliminations and Consolidation Reconciling Items [Member]
Segment Reporting Information [Line Items]
TOTAL ASSETS	3,363,952	3,193,819
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
TOTAL ASSETS	2,439,023	2,428,074
Eliminations and Unallocated in Consolidation [Member]
Segment Reporting Information [Line Items]
TOTAL ASSETS	101,597	182,361
United States [Member]
Segment Reporting Information [Line Items]
TOTAL ASSETS	2,485,497	2,309,734
Canada [Member]
Segment Reporting Information [Line Items]
TOTAL ASSETS	221,965	278,633
Other Businesses [Member]
Segment Reporting Information [Line Items]
TOTAL ASSETS	$ 656,490	$ 605,452