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Stock Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of information relating to options
The following table sets forth information relating to such options during 2018, 2017, and 2016.
Stock Option Activity
Number Of
Shares
 
Average
Exercise
Price
 
Weighted-
Average
Grant Date
Fair Value
Balance, December 31, 2015
2,320,687

 
$
71.01

 
 
Options exercised
(745,938
)
 
36.97

 
 
Options forfeited
(9,458
)
 
73.40

 
 
Options terminated
(2,426
)
 
67.06

 


Options granted
377,920

 
68.32

 
$
12.90

Balance, December 31, 2016
1,940,785

 
66.83

 
 
Options exercised
(386,300
)
 
45.21

 
 
Options forfeited
(34,545
)
 
72.97

 
 
Options terminated
(23,320
)
 
75.60

 
 
Options granted
316,830

 
71.37

 
13.00

Balance, December 31, 2017
1,813,450

 
72.04

 
 
Options exercised
(243,502
)
 
61.92

 
 
Options forfeited
(90,862
)
 
69.82

 
 
Options terminated
(33,481
)
 
75.07

 
 
Options granted
428,190

 
67.36

 
12.30

Balance, December 31, 2018
1,873,795

 
72.34

 
 
Schedule of summary of non-vested option activity for the period
The following is a summary of nonvested option activity for the year ended December 31, 2018.
Stock Option Activity
Number Of
Shares
 
Weighted-
Average
Grant Date
Fair Value
Nonvested options outstanding at beginning of year
719,027

 
$
15.47

Granted
428,190

 
12.30

Vested
(358,511
)
 
18.14

Forfeited
(124,343
)
 
14.99

Nonvested options outstanding at end of year
664,363

 
12.88

Schedule of stock options outstanding and exercisable by exercise price range
A summary of our stock options outstanding and exercisable at December 31, 2018, follows:
Exercise Price Range
Number
Outstanding
 
Number
Exercisable
 
Outstanding Weighted-
Average
Remaining
Contractual
Life (Years)
 
Exercisable
Weighted-
Average
Exercise
Price
$60 - $70
710,321

 
226,938

 
3.23
 
68.27

$70 - $80
1,139,369

 
958,389

 
1.46
 
75.72

$80 - $90
24,105

 
24,105

 
0.16
 
80.76

 
1,873,795

 
1,209,432

 
 
 
 
Schedule of the assumptions used for estimating the fair value of stock options granted during the period
The following summarizes the weighted average assumptions used for estimating the fair value of stock options granted during 2018, 2017 and 2016, respectively.
 
2018
 
2017
 
2016
Expected volatility
22.9% - 24.4%
 
23.8% - 25.1%
 
26.2% - 27.5%
Weighted average expected volatility
23.7%
 
24.8%
 
26.6%
Expected term
3.00 - 6.50 years
 
3.00 - 4.00 years
 
3.00 - 4.00 years
Risk-free rate
2.55%
 
1.66%
 
1.01%
Dividend yield
1.4%
 
1.2%
 
1.0%