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Stock Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2017

The expected term is based on the period of time that options granted are expected to be outstanding based on historical experience.

		2017			2016			2015
Risk-free interest rate		1.97	%		1.37	%		1.35	%
Expected volatility		23	%		26	%		28	%
Expected dividend yield		3.1	%		4.0	%		3.4	%
Expected term	5 years			5 years			5 years
Weighted average grant date fair value of options per share	$	10.56		$	7.51		$	10.98

A summary of activity under the Company’s stock plans is presented below:

		2017		2016		2015
Intrinsic value of options exercised	$	22.0	$	10.4	$	14.1
Cash received from stock option exercises		40.0		29.4		21.8
Tax benefit related to stock award exercises		4.9		1.0		3.5
Stock based compensation		12.7		13.1		14.6
Tax benefit related to stock based compensation		4.6		4.7		5.1

The summary of options as of December 31, 2017 and changes during the year then ended are presented below:

				PER SHARE		REMAINING		AGGREGATE
	NUMBER			EXERCISE		CONTRACTUAL		INTRINSIC
	OF SHARES			PRICE*		LIFE IN YEARS*		VALUE
Options outstanding at January 1		4,466,900		$	48.15
Granted		605,300			67.63
Exercised		(895,100	)		44.74
Cancelled		(120,900	)		56.28
Options outstanding at December 31		4,056,200		$	51.57		5.73	$	79.1
Vested and expected to vest		3,949,100		$	51.31		5.65	$	78.1
Exercisable		2,295,200		$	45.79		3.84	$	58.0

*	Weighted Average

The summary of nonvested restricted shares as of December 31, 2017 and changes during the year then ended is presented below:

	NUMBER			GRANT DATE
NONVESTED SHARES	OF SHARES			FAIR VALUE*
Nonvested awards outstanding at January 1		198,400		$	55.27
Granted		119,200			67.48
Vested		(105,900	)		59.24
Nonvested awards outstanding at December 31		211,700		$	60.16

*	Weighted Average

The dilutive and antidilutive options are shown separately in the table below: