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Equity Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2017
Equity Incentive Plans [Abstract]  
Assumptions used to determine the fair value of options granted
Option grant assumptions
 
 
2017
 
2016
 
2015
Weighted average expected term
 
6.1 years

 
5.0 years

 
6.5 years

Expected volatility
 
15.7 - 32.7%

 
16.0 - 34.3%

 
16.0 - 37.8%

Weighted average volatility
 
21.0
%
 
24.3
%
 
24.7
%
Expected dividends
 
1.4 - 1.9%

 
1.9 - 2.1%

 
1.6 - 2.1%

Weighted average expected dividends
 
1.9
%
 
2.1
%
 
1.7
%
Risk-free rate
 
0.5 - 2.5%

 
0.2 - 2.4%

 
0.0 - 2.4%

Summary of option activity
Summary of option activity
 
 
For the year ended December 31, 2017
 
 
Number
(in 000s)
 
Weighted average exercise price
 
Aggregate intrinsic value
(in 000s)
 
Weighted average remaining contractual term (years)
Outstanding as of January 1, 2017
 
13,560

 
$
50.01

 
 
 
 
Granted
 
2,631

 
78.93

 
 
 
 
Exercised
 
(4,688
)
 
44.91

 
 
 
 
Forfeited
 
(229
)
 
70.85

 
 
 
 
Expired
 
(12
)
 
59.91

 
 
 
 
Outstanding as of December 31, 2017
 
11,262

 
58.46

 
$
520,900

 
6.5
Outstanding, net of expected forfeitures
 
11,140

 
58.27

 
517,276

 
6.5
Outstanding, exercisable (“vested”)
 
6,314

 
47.83

 
359,121

 
5.1
Changes in restricted stock units
Changes in restricted stock units
 
 
For the year ended December 31, 2017
 
 
Number
(in 000s)
 
Weighted average grant date fair value
Nonvested as of January 1, 2017
 
1,679

 
$
58.49

Granted
 
333

 
80.12

Vested
 
(718
)
 
51.42

Forfeited
 
(53
)
 
69.19

Nonvested as of December 31, 2017
 
1,241

 
67.93

Changes in performance stock units
Changes in performance stock awards
 
 
For the year ended December 31, 2017

 
 
Number
(in 000s)
 
Weighted average grant date fair value
Nonvested as of January 1, 2017
 
919

 
$
61.50

Granted
 
458

 
78.47

Adjustment for performance achievement
 
(33
)
 
52.75

Vested
 
(213
)
 
52.52

Forfeited
 
(41
)
 
69.30

Nonvested as of December 31, 2017
 
1,090

 
70.35