XML 90 R39.htm IDEA: XBRL DOCUMENT v3.3.1.900
INCENTIVE PLANS (Tables)
12 Months Ended
Dec. 31, 2015
INCENTIVE PLANS [Abstract]  
Summary of Activity For Nonvested Performance Share Units

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Target

 

 

Weighted-average

 

 

 

 

Number

 

 

Grant-date

 

 

 

 

of Shares

 

 

Fair Value

 

Performance Shares

 

 

 

 

 

Nonvested at January 1, 2015

1,019,416 

 

 

$             53.16 

 

Granted

231,730 

 

 

74.85 

 

Vested

(441,483)

 

 

46.22 

 

Canceled/forfeited

(3,324)

 

 

67.28 

 

Nonvested at December 31, 2015

806,339 

 

 

$             63.13 

 

 

Aggregate Value of Performance Shares

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

in thousands

2015 

 

 

2014 

 

 

2013 

 

Aggregate value of distributed

 

 

 

 

 

 

 

 

 performance shares

$       26,258 

 

 

$                0 

 

 

$         9,286 

 

 

Weighted-Average Fair Value And Weighted-Average Assumptions Used In Estimating Fair Value of Grants

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015 

 

 

2014 

 

 

2013 

 

 

SOSARs

 

 

 

 

 

 

 

 

 

Fair value

$        25.17 

 

 

$        21.94 

 

 

$        16.96 

 

 

Risk-free interest rate

1.85% 

 

 

2.40% 

 

 

1.40% 

 

 

Dividend yield

1.70% 

 

 

1.64% 

 

 

1.72% 

 

 

Volatility

33.00% 

 

 

33.00% 

 

 

33.00% 

 

 

Expected term

8.00 years

 

 

8.00 years

 

 

8.00 years

 

 

 

Summary of Our Stock Option/SOSAR Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average

 

 

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

 

Aggregate

 

 

 

 

Number

 

 

Weighted-average

 

 

Contractual

 

 

Intrinsic Value

 

 

 

 

of Shares

 

 

Exercise Price

 

 

Life (Years)

 

 

(in thousands)

 

Stock Options/SOSARs

 

 

 

 

 

 

 

 

 

 

 

Outstanding at January 1, 2015

4,786,305 

 

 

$             59.65 

 

 

 

 

 

 

 

Granted

161,310 

 

 

79.41 

 

 

 

 

 

 

 

Exercised

(1,890,028)

 

 

63.48 

 

 

 

 

 

 

 

Forfeited or expired

(4,838)

 

 

64.48 

 

 

 

 

 

 

 

Outstanding at December 31, 2015

3,052,749 

 

 

$             58.32 

 

 

4.36 

 

 

$         118,401 

 

Vested and expected to vest

3,038,898 

 

 

$             58.27 

 

 

4.35 

 

 

$         118,043 

 

Exercisable at December 31, 2015

2,602,447 

 

 

$             56.65 

 

 

3.70 

 

 

$         106,100 

 

 

Aggregate Intrinsic Values of Options Exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

in thousands

2015 

 

 

2014 

 

 

2013 

 

Aggregate intrinsic value of options/

 

 

 

 

 

 

 

 

 SOSARs exercised

$       43,620 

 

 

$         7,372 

 

 

$         4,563 

 

 

Cash and Stock Consideration Received and Tax Benefit Realized from Stock Option/Sosar Exercises and Compensation Cost Recorded

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

in thousands

2015 

 

 

2014 

 

 

2013 

 

Stock Options/SOSARs

 

 

 

 

 

 

 

 

Cash and stock consideration received

 

 

 

 

 

 

 

 

 from exercises

$       72,884 

 

 

$       23,199 

 

 

$       17,156 

 

Tax benefit from exercises

16,920 

 

 

2,844 

 

 

1,770 

 

Compensation cost

2,221 

 

 

4,650 

 

 

3,936