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Capital Stock and Shares Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock options transactions

Options generally become exercisable over a three year period. Information about options outstanding and options exercisable is as follows:

 

(shares in thousands)

 

Number of Shares

 

 

Weighted-Average Exercise Price

 

 

Weighted Average Remaining Term (in years)

 

 

Aggregate Intrinsic Value

 

Outstanding at December 31, 2014

 

 

2,223

 

 

$

52.81

 

 

 

 

 

 

 

 

 

Granted in 2015

 

 

435

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercised in 2015

 

 

(286

)

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited in 2015

 

 

(1

)

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2015

 

 

2,371

 

 

$

57.38

 

 

 

4.5

 

 

$

14,936

 

Vested and expected to vest as of December 31, 2015

 

 

2,315

 

 

$

57.06

 

 

 

4.4

 

 

 

14,936

 

Options exercisable at December 31, 2015

 

 

1,660

 

 

$

50.87

 

 

 

3.6

 

 

$

14,936

 

 

Value of exercises of stock options

The following table presents additional information on exercises of stock options:

 

 

 

For the years ended December 31,

 

(in thousands)

 

2015

 

 

2014

 

 

2013

 

Cash received upon exercise

 

$

9,207

 

 

$

39,605

 

 

$

42,976

 

Intrinsic value (market value on date of exercise less exercise price)

 

$

6,030

 

 

$

40,961

 

 

$

25,552

 

 

Restricted stock units

The following table presents additional information about RSUs:

 

 

 

 

 

 

 

Grant Date Fair Value

 

 

 

 

 

 

 

Weighted

 

(shares in thousands)

 

Units

 

 

Average

 

Unvested units at December 31, 2014

 

 

614.0

 

 

$

67.68

 

Awarded in 2015

 

 

346.0

 

 

$

71.01

 

Converted in 2015

 

 

(462.0

)

 

$

63.19

 

Forfeited in 2015

 

 

(4.0

)

 

$

74.03

 

Unvested units at December 31, 2015

 

 

494.0

 

 

$

60.26

 

 

Weighted-average assumptions used in estimate of compensation costs of share options

The weighted-average assumptions SNI used in the model are as follows:

 

 

For the years ended December 31,

 

 

2015

 

 

2014

 

 

2013

 

Weighted-average fair value of stock options granted

$

15.18

 

 

$

19.20

 

 

$

18.94

 

Assumptions used to determine fair value:

 

 

 

 

 

 

 

 

 

 

 

Dividend yield

 

1.28

%

 

 

0.99

%

 

 

0.95

%

Risk-free rate of return

 

1.49

%

 

 

1.53

%

 

 

0.84

%

Expected life of options (years)

 

5.0

 

 

 

5.0

 

 

 

5.0

 

Expected volatility

 

24.7

%

 

 

27.2

%

 

 

36.3

%

 

Stock-based compensation costs

A summary of share-based compensation costs is as follows:

 

 

For the years ended December 31,

 

(in thousands)

2015

 

 

2014

 

 

2013

 

Total share-based compensation costs

$

29,568

 

 

$

35,474

 

 

$

36,845