Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2015

Share-Based Compensation

Summary of assumptions to estimate the fair value of stock option awards

	For the three months ended June 30,				For the six months ended June 30,
	2015		2014		2015		2014
Weighted-average volatility	26.48	%	27.15	%	26.66	%	27.35	%
Dividend yield	1.53	%	1.78	%	1.55	%	1.79	%
Expected term (in years)	5.45		5.46		6.05		6.06
Risk-free interest rate	1.79	%	1.92	%	1.78	%	1.99	%

Summary of options activity and related information under the Plan

			Weighted-				Weighted-
			Average		Aggregate		Average
	Number of		Exercise		Intrinsic		Remaining
	Shares		Price		Value		Contractual
Options	(in thousands)		(per share)		(in thousands) (1)		Term
Outstanding at January 1, 2015	3,971		$	57.40
Granted	376		90.47
Exercised	(485	)	59.81
Forfeited or expired	(28	)	66.45
Outstanding at June 30, 2015	3,834		$	60.27	$	115,498	5.58
Exercisable at June 30, 2015	2,699		$	55.64	$	93,793	4.37

(1) Includes in-the-money options only.

Summary of changes in unvested options and related information under the Plan

			Weighted-Average
	Number of		Grant Date
	Shares		Fair Value
Unvested Options	(in thousands)		(per share)
Unvested at January 1, 2015	1,269		$	14.80
Granted	376		21.80
Vested	(492	)	14.82
Forfeited	(18	)	14.96
Unvested at June 30, 2015	1,135		$	17.11

Share-based compensation

Summary of changes in restricted stock and related information under the Plan

			Weighted-Average
	Number of		Grant Date
	Shares		Fair Value
Restricted Stock (1)	(in thousands)		(per share)
Unvested at January 1, 2015	525		$	60.60
Granted	100		90.47
Vested	(134	)	55.04
Forfeited	(5	)	66.52
Unvested at June 30, 2015	486		$	68.20

(1) Includes restricted stock units.

Cash-settled restricted stock units

Share-based compensation

Summary of changes in restricted stock and related information under the Plan

	Number of
	Shares
Cash-Settled Restricted Stock Units	(in thousands)
Unvested at January 1, 2015	174
Granted	14
Vested	(44	)
Forfeited	(3	)
Unvested at June 30, 2015	141