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STOCK - BASED COMPENSATION PLANS (Tables)
12 Months Ended
Dec. 31, 2015
Stock-Based Compensation Expense and Associated Tax Benefit
Year Ended December 31,
201520142013
Stock-based compensation expense$87.2$80.4$67.1
Tax benefit$28.6$27.5$24.7
Weighted Average Assumptions Used in Determining Fair Value for Options Granted
Year Ended December 31,
201520142013
Expected dividend yield1.39%1.41%1.72%
Expected stock volatility39%41%43%
Risk-free interest rate1.88%2.30%1.53%
Expected holding period6.9 years7.2 years7.2 years
Grant date fair value$36.08$31.53$17.58
Summary of Option Activity
OptionsSharesWeighted Average Exercise Price Per ShareWeighted Average Remaining Contractual TermAggregate Intrinsic Value
Outstanding, December 31, 20146.0$46.00
Granted0.3$98.08
Exercised(1.5)$54.89
Outstanding, December 31, 20154.8$46.474.1 years$256.9
Vested and expected to vest, December 31, 20154.7$45.904.0 years$254.9
Exercisable, December 31, 20153.9$40.793.2 years$231.2
Summary of Information Relating to Stock Option Exercises
Year Ended December 31,
201520142013
Proceeds from stock option exercises$83.9$145.5$163.3
Aggregate intrinsic value$72.9$122.3$112.4
Tax benefit realized upon exercise$26.0$43.2$41.1
Information Related to Vesting of Restricted Stock Awards
Year Ended December 31,
201520142013
Fair value of shares upon delivery$111.9$92.4$54.6
Tax benefit realized upon delivery$38.1$31.2$19.3
Performance Based Restricted Stock [Member]  
Summary of Restricted Stock
Performance-based restricted stockSharesWeighted Average Grant Date Fair Value Per Share
Balance, December 31, 20140.9$46.09
Granted0.2$94.08
Vested(0.5)$36.78
Balance, December 31, 20150.6$64.46
Information Related to Vesting of Restricted Stock Awards
Year Ended December 31,
201520142013
Fair value of shares upon delivery$43.1$38.0$25.5
Tax benefit realized upon delivery$15.6$14.4$9.7
Non Vested Restricted Stock [Member]  
Summary of Restricted Stock
Nonvested Restricted StockSharesWeighted Average Grant Date Fair Value Per Share
Balance, December 31, 20142.7$53.98
Granted0.9$98.07
Vested(1.2)$47.30
Forfeited(0.1)$70.42
Balance, December 31, 20152.3$75.33