XML 73 R30.htm IDEA: XBRL DOCUMENT v3.8.0.1
Equity (Tables)
3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Summary of Stock Options
The following is a summary of stock options for the three months ended March 31, 2018:
 
Number of Options
 
Weighted Average
Exercise Price per
Option
Outstanding at December 31, 2017
4,013,388

 
$
41.13

Granted
522,881

 
67.00

Exercised
(170,536
)
 
23.03

Outstanding at March 31, 2018
4,365,733

 
44.93

Details of Stock Options Outstanding
Details of stock options outstanding as of March 31, 2018 are as follows:
 
Number of Options
 
Weighted Average
Exercise Price
 
Weighted Average
Remaining
Contractual Life
(Years)
 
Aggregate
Intrinsic
Value
(In millions)
Vested or expected to vest
4,365,733

 
$
44.93

 
6.9
 
$
120

Exercisable
3,146,697

 
$
39.00

 
6.0
 
$
105

Stock Options Valuation Assumptions
During the three months ended March 31, 2018 and 2017, we used the weighted-average assumptions in the table below to compute the value of all options for shares of common stock granted to employees:
 
Three Months Ended March 31,
Assumptions:
2018
 
2017
Risk-free interest rate
2.66
%
 
1.84
%
Expected life in years
6.0

 
5.0

Expected volatility
20
%
 
21
%
Expected dividend yield
1.43
%
 
1.40
%
Estimated weighted-average fair value of options granted per share
$
13.98

 
$
10.49

Summary of Nonvested Restricted Stock Options
The following is a summary of the non-vested restricted shares for the three months ended March 31, 2018:  
 
Number of
Restricted
Stock Shares
 
Weighted Average
Grant-Date Fair
Value per Share
Non-vested at December 31, 2017
5,748,408
 
$
52.78

Granted
1,730,214
 
67.24

Vested
(2,490,257)
 
49.46

Forfeited
(150,134)
 
57.22

Non-vested at March 31, 2018
4,838,231
 
59.52