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Stock Transactions and Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2012
Share-based Compensation [Abstract]  
Assumptions Used In The Black-Scholes Model To Value Options Granted
The following summarizes the assumptions used in the Black-Scholes model to value options granted during the years ended December 31, 2012, 2011 and 2010:
 
 
Year Ended December 31
 
2012
 
2011
 
2010
Risk-free interest rate
0.7 – 1.7%

 
1.2 – 3.2%

 
1.4 – 3.4%

Weighted average volatility
30.1
%
 
28.0
%
 
28.0
%
Dividend yield
0.2
%
 
0.2
%
 
0.2
%
Expected years until exercise
6.0 – 8.5

 
6.0 – 8.5

 
6.0 – 8.5
Components Of Share-Based Compensation Program
The following table summarizes the components of the Company’s stock-based compensation program recorded as expense ($ in millions):
 
 
Year Ended December 31
 
2012
 
2011
 
2010
RSUs and restricted shares:
 
 
 
 
 
Pre-tax compensation expense
$
61.1

 
$
47.9

 
$
32.2

Income tax benefit
(19.6
)
 
(17.8
)
 
(12.0
)
RSU and restricted share expense, net of income taxes
$
41.5

 
$
30.1

 
$
20.2

Stock options:
 
 
 
 
 
Pre-tax compensation expense
$
48.8

 
$
47.7

 
$
55.9

Income tax benefit
(15.0
)
 
(14.6
)
 
(16.5
)
Stock option expense, net of income taxes
$
33.8

 
$
33.1

 
$
39.4

Total stock-based compensation:
 
 
 
 
 
Pre-tax compensation expense
$
109.9

 
$
95.6

 
$
88.1

Income tax benefit
(34.6
)
 
(32.4
)
 
(28.5
)
Total stock-based compensation expense, net of income taxes
$
75.3

 
$
63.2

 
$
59.6
Option Activity Under The Company's Stock Plans
Option activity under the Company’s stock plans as of December 31, 2012 and changes during the three years ended December 31, 2012 were as follows (in thousands; except exercise price and number of years):
 
 
Options
 
Weighted
Average
Exercise  Price
 
Weighted Average
Remaining
Contractual Term
(in Years)
 
Aggregate
Intrinsic
Value
Outstanding as of January 1, 2010
38,794

 
$
27.57

 
 
 
 
Granted
4,425

 
38.26

 
 
 
 
Exercised
(7,028
)
 
19.49

 
 
 
 
Cancelled/forfeited
(1,371
)
 
33.62

 
 
 
 
Outstanding as of December 31, 2010
34,820

 
30.31

 
 
 
 
Granted
3,807

 
50.02

 
 
 
 
Exercised
(4,488
)
 
25.73

 
 
 
 
Cancelled/forfeited
(1,685
)
 
35.62

 
 
 
 
Outstanding as of December 31, 2011
32,454

 
32.98

 
 
 
 
Granted
4,268

 
52.21

 
 
 
 
Exercised
(8,133
)
 
25.25

 
 
 
 
Cancelled/forfeited
(1,217
)
 
40.52

 
 
 
 
Outstanding as of December 31, 2012
27,372

 
$
37.94

 
6
 
$
491,528

Vested and Expected to Vest as of December 31, 2012 (1)
26,590

 
$
37.67

 
6
 
$
484,806

Vested as of December 31, 2012
14,673

 
$
32.91

 
4
 
$
337,339


 
(1) 
The “Expected to Vest” options are the net unvested options that remain after applying the pre-vesting forfeiture rate assumption to total unvested options
Summary Of Options Outstanding
Options outstanding as of December 31, 2012 are summarized below:
 
 
Outstanding
 
Exercisable
Exercise Price
Shares
(thousands)
 
Average
Exercise Price
 
Average
Remaining
Life
 
Shares
(thousands)
 
Average
Exercise Price
$15.23 to $23.56
910

 
$
19.93

 
1
 
904

 
$
19.94

$23.57 to $31.26
8,167

 
$
28.40

 
4
 
6,080

 
$
28.65

$31.27 to $38.81
8,183

 
$
36.44

 
5
 
5,323

 
$
35.83

$38.82 to $46.81
2,539

 
$
40.32

 
6
 
1,878

 
$
40.17

$46.82 to $55.07
7,573

 
$
51.23

 
9
 
488

 
$
50.23
RSU And Restricted Stock Activity
The following table summarizes information on unvested RSUs and restricted shares activity during the three years ended December 31, 2012:
 
 
Number of RSUs/Restricted
Shares (in thousands)
 
Weighted Average
Grant-Date  Fair Value
Unvested as of January 1, 2010
5,580

 
$
29.53

Granted
1,759

 
38.17

Vested
(1,877
)
 
25.19

Forfeited
(309
)
 
34.37

Unvested as of December 31, 2010
5,153

 
33.77

Granted
1,628

 
49.96

Vested
(405
)
 
35.81

Forfeited
(397
)
 
38.59

Unvested as of December 31, 2011
5,979

 
37.72

Granted
1,776

 
52.26

Vested
(1,704
)
 
34.86

Forfeited
(466
)
 
36.84

Unvested as of December 31, 2012
5,585

 
$
43.29