Long-term Equity-based Compensation (Tables)

The assumptions used in the Black-Scholes pricing model for Tandem Awards granted during the years ended December 31, 2015, 2014 and 2013 are presented below.



	2015					2014					2013
RANGE OF VALUATION ASSUMPTIONS
Expected Volatility	21.31	%	-	41.65	%	25.76	%	-	44.43	%	39.10	%	-	48.23	%
Risk-free Interest Rate	1.08		-	1.96		1.07		-	2.14		0.62		-	1.38
Expected Dividend Yield	2.37		-	2.62		2.53		-	2.60		2.83		-	3.00
WEIGHTED-AVERAGE EXPECTED LIFE IN YEARS
Employee Grants	4		-	7		4		-	7		4		-	7
Director Grants	5.5					6					6

activity for the year ended December 31, 2015 is presented below.



	Shares Subject to Awards		Weighted- average Exercise Price Per Share ($)		Weighted- average Remaining Contractual Life (in Years)	Aggregate Intrinsic Value ($ In Millions)
Outstanding at Beginning of the Year	2,265,711		$	39.74
Granted	397,532		37.51
Exercised	(629,625	)	31.84
Forfeited or Expired	(605,461	)	46.45
Outstanding at December 31, 2015	1,428,157		39.75		5.4	$	2.1
Vested and Expected to Vest at December 31, 2015	1,393,530		$	39.84	5.3	$	2.0
Exercisable at December 31, 2015	978,437		$	41.02	3.8	$	1.6

Information pertaining to Tandem Awards outstanding at December 31, 2015 is presented below.



			Outstanding			Exercisable
Range of Exercise Prices ($)			Shares Subject to Awards	Weighted- average Exercise Price Per Share ($)	Weighted- average Remaining Contractual Life (in Years)	Shares Subject to Awards	Weighted- average Exercise Price Per Share ($)
15.01	-	20.00	4,000	16.48	3.35	4,000	16.48
20.01	-	25.00	14,500	23.47	4.07	14,500	23.47
25.01	-	30.00	75,750	28.67	5.46	75,750	28.67
30.01	-	35.00	173,625	33.20	7.11	131,998	33.12
35.01	-	40.00	600,000	36.55	7.73	290,187	36.83
40.01	-	45.00	103,782	40.70	9.89	5,502	40.70
45.01	-	50.00	456,500	48.80	0.59	456,500	48.80
15.01	-	50.00	1,428,157	39.75	5.36	978,437	41.02

Activity related to DSU awards for the year ended December 31, 2015 is presented below.



	Number of DSUs		Weighted- average Grant-date Fair Value Per DSU
Vested Balance at Beginning of the Year	8,000		$	34.52
Granted and Vested	3,500		38.38
Reduction for Shares Issued on Conversion	(4,500	)	34.94
Vested Balance at December 31, 2015	7,000		$	36.17

Activity related to nonvested time-based restricted stock and nonvested time-based RSUs for the year ended December 31, 2015 is presented below.



	Time-based Restricted Stock Awards				Time-based RSU Awards
	Number of Shares		Weighted- average Grant-date Fair Value Per Share		Number of RSUs		Weighted- average Grant-date Fair Value Per RSU
Nonvested Balance at Beginning of the Year	53,095		$	32.42	30,024		$	36.60
Granted	—		—		74,375		36.79
Vested	(18,733	)	31.09		(16,701	)	36.33
Forfeited	(4,914	)	29.48		(2,650	)	36.19
Nonvested Balance at December 31, 2015	29,448		$	33.77	85,048		$	36.84

Activity related to nonvested performance-based restricted stock and nonvested performance-based RSU awards for the year ended December 31, 2015 is presented below.



	Performance-based Restricted Stock Awards				Performance-based RSU Awards
	Number of Shares		Weighted- average Grant-date Fair Value Per Share		Number of RSUs		Weighted- average Grant-date Fair Value Per RSU
Nonvested Balance at Beginning of the Year	110,625		$	39.28	61,875		$	40.50
Granted	—		—		68,825		43.05
Vested	—		—		—		—
Forfeited	(59,225	)	36.81		(2,600	)	41.68
Nonvested Balance at December 31, 2015	51,400		$	42.12	128,100		$	41.85