Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

Fair value for the shares granted during the six months ended June 30, 2017 was estimated as of the date of grant using a Monte-Carlo option pricing model based on the following assumptions:

Stock price on valuation date	$	59.90
Performance term (in years)	3.0
Quarterly dividends paid per share(1)	$	0.4700
Expected dividend yield	3.09		%
Dividend discount factor	0.9156

⁽¹⁾   In addition to common stock shares, a participant also receives a dividend equivalent cash payment equal to the number of shares of common stock received on the award payout multiplied by the aggregate cash dividends paid per share during the performance period.