Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2014

Share-Based Compensation Plans [Abstract]

Stock Option Activity

Stock option activity for the three years ended December 31, 2014 was:

	2014			2013			2012
	Shares		Weighted Average Exercise Price	Shares		Weighted Average Exercise Price	Shares		Weighted Average Exercise Price
January 1	2,643,680		$26.39	5,590,880		$25.72	18,301,409		$26.22
Granted	60,000		$66.16	60,000		$70.68	60,000		$49.65
Exercised	(1,046,540	)	$26.19	(3,021,200	)	$26.01	(12,673,529	)	$26.47
(Forfeited) reinstated	(5,000	)	$23.40	14,000		$23.40	(97,000	)	$35.98
December 31	1,652,140		$27.97	2,643,680		$26.39	5,590,880		$25.72
Exercisable December 31	1,526,140		$24.95	2,505,680		$24.67	5,333,880		$24.89

Options Outstanding and Exercisable

Options outstanding and exercisable at December 31, 2014 were:

			Options Outstanding			Options Exercisable
Range of Exercise Prices			Shares	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price	Shares	Weighted Average Exercise Price
$23.40	to	$29.99	1,437,140	4.2 years	$23.40	1,437,140	$23.40
$30.00	to	$44.99	41,000	6.1 years	$41.57	41,000	$41.57
$45.00	to	$59.99	54,000	7.5 years	$49.32	30,000	$49.05
$60.00	to	$70.68	120,000	9.4 years	$68.42	18,000	$70.68
			1,652,140			1,526,140

Black-Scholes Assumptions and Weighted Average Fair Value Per Share for Options Granted

The Black-Scholes assumptions (without adjusting for the risk of forfeiture and lack of liquidity) and the weighted average fair value per share for options granted were:

	2014	2013	2012
Expected option lives	5 years	5 years	5 years
Risk free interest rate	1.4%	1.4%	0.8%
Expected volatility	22.3%	26.0%	29.5%
Dividend yield	3.0%	2.0%	3.1%
Weighted average fair value per option granted	$10.50	$14.50	$10.42

Restricted Stock Activity

Restricted stock activity for the three years ended December 31, 2014 was:

	2014		2013		2012
January 1	6,090,697		7,241,490		6,038,978
Granted	915,922		706,900		2,515,127
Vested	(1,619,444	)	(1,490,786	)	(981,737	)
Forfeited	(346,534	)	(366,907	)	(330,878	)
December 31	5,040,641		6,090,697		7,241,490
Weighted average grant date fair value of shares granted in the period	$64.92		$60.98		$49.55
Weighted average grant date fair value at December 31	$50.98		$47.47		$45.34

Performance Restricted Stock Units Activity

PRSU activity of the three years ended December 31, 2014 was:

	2014				2013				2012
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
January 1	681,555		$	51.19	538,948		$	48.74	413,909		48.56
Granted	188,621		69.89		183,998		57.77		166,426		$	49.13
Distributed	(165,562	)	48.56		(41,391	)	48.56		(41,387	)	48.56
Forfeited	(81,755	)	61.76		—		—		—		—
December 31	622,859		$	56.16	681,555		$	51.19	538,948		$	48.74