Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2015

Share-Based Compensation Plans [Abstract]

Stock Option Activity

Stock option activity for the three years ended December 31, 2015 was:

	2015			2014			2013
	Shares		Weighted Average Exercise Price	Shares		Weighted Average Exercise Price	Shares		Weighted Average Exercise Price
January 1	1,652,140		$27.97	2,643,680		$26.39	5,590,880		$25.72
Granted	—			60,000		$66.16	60,000		$70.68
Exercised	(511,593	)	$25.98	(1,046,540	)	$26.19	(3,021,200	)	$26.01
(Forfeited) reinstated	—			(5,000	)	$23.40	14,000		$23.40
December 31	1,140,547		$28.86	1,652,140		$27.97	2,643,680		$26.39
Exercisable December 31	1,074,547		$26.47	1,526,140		$24.95	2,505,680		$24.67

Options Outstanding and Exercisable

Options outstanding and exercisable at December 31, 2015 were:

			Options Outstanding			Options Exercisable
Exercise Price Range			Shares	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price	Shares	Weighted Average Exercise Price
$23.40	to	$29.99	978,547	3.2 years	$23.40	978,547	$23.40
$30.00	to	$44.99	21,000	5.9 years	$43.49	21,000	$43.49
$45.00	to	$59.99	30,000	6.8 years	$49.65	30,000	$49.65
$60.00	to	$70.68	111,000	8.3 years	$68.60	45,000	$69.78
			1,140,547			1,074,547

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
Expected option lives	5 years	5 years
Risk free interest rate	1.4%	1.4%
Expected volatility	22.3%	26.0%
Dividend yield	3.0%	2.0%
Weighted average fair value per option granted	$10.50	$14.50

Restricted Stock Activity

Restricted stock activity for the three years ended December 31, 2015 was:

	2015		2014		2013
January 1	5,040,641		6,090,697		7,241,490
Granted	1,208,964		915,922		706,900
Vested	(1,631,343	)	(1,619,444	)	(1,490,786	)
Forfeited	(269,157	)	(346,534	)	(366,907	)
December 31	4,349,105		5,040,641		6,090,697
Weighted average grant date fair value of shares granted in the period	$64.49		$64.92		$60.98
Weighted average grant date fair value at December 31	$55.08		$50.98		$47.47

Performance Restricted Stock Units Activity

PRSU activity of the three years ended December 31, 2015 was:

	2015				2014				2013
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
January 1	622,859		$	56.16	681,555		$	51.19	538,948		$	48.74
Granted	161,625		77.68		188,621		69.89		183,998		57.77
Distributed	(239,387	)	48.94		(165,562	)	48.56		(41,391	)	48.56
Forfeited	(10,641	)	48.87		(81,755	)	61.76		—		—
December 31	534,456		$	66.05	622,859		$	56.16	681,555		$	51.19