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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Stock-based Compensation [Abstract]  
Schedule Of Sharebased Compensation Restricted Operating Partnership Units Earned
Percentage of
Total PlanNotional AmountGrant Date
Plan YearNotional AmountGrantedFair Value(1)OPP Units Earned
2016$40,000,00086.7%$11,800,000To be determined in 2019
201540,000,00084.5%9,120,000To be determined in 2018
201450,000,00058.9%8,202,000297,495(2)
(1)Such amounts are being amortized into expense over a five-year period from the date of grant, using a graded vesting attribution model. In the years ended December 31, 2016, 2015 and 2014, we recognized $11,055,000, $15,531,000 and $6,185,000, respectively, of compensation expense related to OPPs. As of December 31, 2016, there was $5,752,000 of total unrecognized compensation cost related to the OPPs, which will be recognized over a weighted-average period of 1.7 years.
(2)99.5% earned on January 10, 2017.
Schedule Of Share Based Compensation Stock Options Activity
Weighted-
Weighted-Average
AverageRemainingAggregate
Exercise ContractualIntrinsic
SharesPriceTermValue
Outstanding at January 1, 20162,827,570$60.06
Granted42,46692.97
Exercised(125,724) 56.44
Cancelled or expired(11,768) 100.49
Outstanding at December 31, 20162,732,544 $65.763.1$120,360,377
Options vested and expected to vest at
December 31, 20162,737,594$60.664.1$118,170,212
Options exercisable at December 31, 20162,642,684$59.422.9$119,269,973
Schedule Of Share Based Payment Award Stock Options Valuation Assumptions
December 31,
201620152014
Expected volatility 35.00 % 35.00 % 36.00 %
Expected life 5.0 years 5.0 years 5.0 years
Risk free interest rate 1.76 % 1.56 % 1.81 %
Expected dividend yield 3.20 % 3.30 % 4.10 %
Schedule Of Sharebased Compensation Restricted Stock And Restricted Stock Units Activity
Weighted-Average
Grant-Date
Unvested SharesSharesFair Value
Unvested at January 1, 201619,592$91.09
Granted9,97392.97
Vested(7,472) 85.80
Cancelled or expired(1,086) 93.87
Unvested at December 31, 201621,00793.72
Schedule Of Sharebased Compensation Restricted Operating Partnership Units Activity
Weighted-Average
Grant-Date
Unvested UnitsUnitsFair Value
Unvested at January 1, 2016639,017$80.46
Granted211,08687.60
Vested(289,515) 78.41
Cancelled or expired(7,554) 92.01
Unvested at December 31, 2016553,03487.11