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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Weighted Average Fair Values and Related Assumptions for Options Granted
The following table sets forth the weighted average fair values and related assumptions for options granted for the years ended December 31, 2015, 2014 and 2013:
 
2015
 
2014
 
2013
Fair value per share
$
7.69

 
$
7.28

 
$
5.15

Expected dividend yield
1.75
%
 
1.86
%
 
2.40
%
Risk free interest rate
1.60
%
 
1.65
%
 
1.26
%
Expected volatility factor
36.61
%
 
39.23
%
 
37.59
%
Expected life in years
6.0

 
5.7

 
6.3

Summary of Stock Option Activity
The following table sets forth the Company’s total stock option activity and related information for these plans for the years ended December 31, 2015, 2014 and 2013:
(millions, except per share amounts)
2015
 
2014
 
2013
  
Options
 
Weighted-
Average
Exercise
Price
 
Options
 
Weighted-
Average
Exercise
Price
 
Options
 
Weighted-
Average
Exercise
Price
Outstanding, beginning of year
3.7

 
$
21.29

 
3.9

 
$
22.01

 
3.9

 
$
22.25

Granted
0.4

 
22.87

 
0.3

 
21.20

 
0.5

 
16.82

Exercised
(0.3
)
 
16.56

 
(0.1
)
 
16.43

 
(0.2
)
 
16.82

Canceled
(0.4
)
 
25.18

 
(0.4
)
 
30.21

 
(0.3
)
 
19.52

Outstanding, end of year
3.4

 
$
21.44

 
3.7

 
$
21.29

 
3.9

 
$
22.01

 
 
 
 
 
 
 
 
 
 
 
 
Summary of Stock Options Outstanding and Exercisable
The following table sets forth information pertaining to the total options outstanding and exercisable at December 31, 2015:
(Options in millions)
Options Outstanding
 
Options Exercisable
  
Number
 
Weighted-
Average
Remaining
Contractual Life
 
Weighted-
Average
Exercise
Price
 
Number
 
Weighted-
Average
Exercise
Price
Range of Exercise Prices:
 
 
 
 
 
 
 
 
 
$10.01 – $20.00
1.7

 
5.0
 
$
16.53

 
1.5

 
$
16.53

$20.01 – $30.00
1.4

 
4.1
 
25.01

 
0.8

 
26.89

Greater than $30.00
0.3

 
0.4
 
33.48

 
0.3

 
33.48

 
3.4

 
4.2
 
$
21.44

 
2.6

 
$
21.67

 
 
 
 
 
 
 
 
 
 
Restricted Stock [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Non-Vested and Vested Restricted Shares and Changes
The following table sets forth the status of the Company’s non-vested and vested restricted shares and changes for the years ended December 31, 2015, 2014 and 2013:
 
2015
 
2014
 
2013
  
Shares
 
Weighted
Average
Grant
Date Fair
Value
 
Shares
 
Weighted
Average
Grant
Date Fair
Value
 
Shares
 
Weighted
Average
Grant
Date Fair
Value
Outstanding, beginning of year
76,472

 
$
19.06

 
38,233

 
$
15.06

 
55,413

 
$
16.21

Granted
74,020

 
22.83

 
56,178

 
21.23

 

 

Vested
(35,859
)
 
16.88

 
(16,892
)
 
17.08

 
(17,180
)
 
18.78

Canceled
(3,549
)
 
21.92

 
(1,047
)

21.23

 

 

Outstanding, end of year
111,084

 
$
22.19

 
76,472

 
$
19.06

 
38,233

 
$
15.06