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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2015
Stock-Based Compensation Plans [Abstract]  
Schedule Of Total Stock Option And Award Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Options

 

Stock Awards

 

Performance Units (PSUs)

 

 

 

 

Weighted Average

 

Aggregate

 

 

 

Weighted

 

Number of

 

Weighted

 

 

 

 

 

 

Remaining

 

Intrinsic

 

 

 

Average

 

Nonvested

 

Average

 

 

Number of

 

Exercise

 

Contractual

 

Value

 

Number of

 

Grant-Date

 

Target

 

Grant-Date

 

 

Options

 

Price

 

Life (Years)

 

(thousands)

 

Awards

 

Price

 

Units

 

Price

Outstanding at January 1, 2014

 

1,768,174 

$

73.14 

 

 

 

 

 

140,510 

$

67.71 

 

56,699 

$

81.91 

Granted

 

422,750 

 

157.36 

 

 

 

 

 

36,987 

 

121.75 

 

21,522 

 

127.85 

Exercised/Vested

 

(611,786)

 

62.03 

 

 

 

 

 

(80,011)

 

68.36 

 

 -

 

 -

Canceled/ Forfeited

 

(15,263)

 

89.64 

 

 

 

 

 

(754)

 

79.50 

 

(1,845)

 

98.56 

Outstanding at December 31, 2015

 

1,563,875 

 

100.09 

 

6.3 

$

82,056 

 

96,732 

 

87.75 

 

76,376 

 

94.45 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

at December 31, 2015

 

1,563,875 

 

100.09 

 

6.3 

 

82,056 

 

96,732 

 

87.75 

 

127,061 

*

97.68 

Exercisable at December 31, 2015

 

768,261 

 

70.41 

 

6.1 

 

61,756 

 

n.a.

 

n.a.

 

n.a.

 

n.a.

* Amount includes 46,610 share units which vested and were converted to Capital Stock and distributed in the first quarter of 2016. The shares that vested in 2016 had a weighted average grant-date fair value of $71.69 per share and an estimated fair value of $139.51.

 

Schedule Of Comparative Date For Performance Stock Units

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015 Awards

 

2014 Awards

 

2013 Awards

TSR Awards

 

 

 

 

 

 

Shares granted

 

10,761 

 

10,340 

 

16,149 

Per-share fair value

 

$               142.55 

 

$               112.60 

 

$               139.51 

Volatility

 

25.2% 

 

30.8% 

 

21.2% 

Risk-free interest rate

 

0.93% 

 

0.33% 

 

0.25% 

 

 

 

 

 

 

 

EPS Awards

 

 

 

 

 

 

Shares granted

 

10,761 

 

14,061 

 

16,149 

Per-share fair value

 

$               113.14 

 

$                 82.80 

 

$               139.51 

 

 

 

 

 

 

 

Common Assumptions

 

 

 

 

 

 

Service period (years)

 

2.9 

 

2.9 

 

2.2 

Three-year measurement period ends December 31,

 

2017 

 

2016 

 

2015 

 

Schedule Of Other Data For Stock Option And Stock Award Activity

 

 

 

 

 

 

 

 

 

Years Ended December 31,

 

 

2015

 

2014

 

2013

Total compensation cost of stock-based compensation

 

 

 

 

 

 

  plans charged against income

$

14,737 

$

10,323 

$

10,868 

Total income tax benefit recognized in income for stock

 

 

 

 

 

 

  based compensation plans

 

5,416 

 

3,794 

 

3,994 

Total intrinsic value of stock options exercised

 

45,600 

 

26,344 

 

16,922 

Total intrinsic value of stock awards vested during the period

 

12,065 

 

4,564 

 

4,298 

Per-share weighted averaged grant-date fair value of

 

 

 

 

 

 

stock awards granted

 

121.75 

 

88.48 

 

77.13 

 

Schedule Of Valuation Assumptions

 

 

 

 

 

 

 

 

 

2015

 

2014

 

2013

 

 

 

 

 

 

 

Stock price on date of issuance

 

$157.36 

 

$106.59 

 

$70.30 

Grant date fair value per share

 

$29.46 

 

$21.58 

 

$14.79 

Number of options granted

 

422,750 

 

410,800 

 

392,274 

Expected term (years)

 

4.0 

 

4.8 

 

4.9 

Risk free rate of return

 

1.57% 

 

1.59% 

 

1.39% 

Volatility

 

22.20% 

 

22.60% 

 

24.90% 

Dividend yield

 

0.6% 

 

0.8% 

 

1.1% 

Forfeiture rate

 

-

 

-

 

-

 

Schedule Of Other Data For Stock Options, Stock Awards And PSUs

 

 

 

 

 

 

 

 

 

Stock

 

Stock

 

 

 

 

Options

 

Awards

 

PSUs

Total unrecognized compensation related to nonvested options, stock awards

 

 

 

 

 

 

and PSUs at the end of year

$

18,421 

$

3,849 

$

3,515 

Weighted average period over which unrecognized compensation cost of

 

 

 

 

 

 

  nonvested options, stock awards and PSUs to be recognized (years)

 

2.4 

 

2.1 

 

1.7 

Actual income tax benefit realized from options exercised or stock awards

 

 

 

 

 

 

and PSUs vested

$

16,786 

$

3,667 

$

2,397 

Aggregate intrinsic value of stock options, stock awards and PSUs vested

 

 

 

 

 

 

and expected to vest

$

82,056 

$

14,586 

$

19,160