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Stock Transactions and Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2014
Share-based Compensation [Abstract]  
Assumptions Used In The Black-Scholes Model To Value Options Granted
The following summarizes the assumptions used in the Black-Scholes model to value options granted during the years ended December 31:
 
2014
 
2013
 
2012
Risk-free interest rate
1.7 – 2.4%

 
1.0 – 2.3%

 
0.7 – 1.7%

Weighted average volatility
22.4
%
 
23.6
%
 
30.1
%
Dividend yield
0.5
%
 
0.2
%
 
0.2
%
Expected years until exercise
5.5 – 8.0

 
6.0 – 8.5

 
6.0 – 8.5
Components Of Share-Based Compensation Program
The following summarizes the components of the Company’s continuing operations stock-based compensation expense for the years ended December 31 ($ in millions):
 
2014
 
2013
 
2012
RSUs and restricted shares:
 
 
 
 
 
Pre-tax compensation expense
$
71.4

 
$
64.6

 
$
57.7

Income tax benefit
(20.8
)
 
(19.4
)
 
(18.5
)
RSU and restricted share expense, net of income taxes
50.6

 
45.2

 
39.2

Stock options:
 
 
 
 
 
Pre-tax compensation expense
44.1

 
45.0

 
46.0

Income tax benefit
(13.2
)
 
(13.8
)
 
(14.1
)
Stock option expense, net of income taxes
30.9

 
31.2

 
31.9

Total stock-based compensation:
 
 
 
 
 
Pre-tax compensation expense
115.5

 
109.6

 
103.7

Income tax benefit
(34.0
)
 
(33.2
)
 
(32.6
)
Total stock-based compensation expense, net of income taxes
$
81.5

 
$
76.4

 
$
71.1
Option Activity Under The Company's Stock Plans
The following summarizes option activity under the Company’s stock plans (in millions; except exercise price and number of years):
 
Options
 
Weighted
Average
Exercise  Price
 
Weighted Average
Remaining
Contractual Term
(in years)
 
Aggregate
Intrinsic
Value
Outstanding as of January 1, 2012
32.4

 
$
32.98

 
 
 
 
Granted
4.3

 
52.21

 
 
 
 
Exercised
(8.1
)
 
25.25

 
 
 
 
Cancelled/forfeited
(1.2
)
 
40.52

 
 
 
 
Outstanding as of December 31, 2012
27.4

 
37.94

 
 
 
 
Granted
3.8

 
64.73

 
 
 
 
Exercised
(5.1
)
 
31.19

 
 
 
 
Cancelled/forfeited
(1.1
)
 
47.35

 
 
 
 
Outstanding as of December 31, 2013
25.0

 
42.93

 
 
 
 
Granted
3.9

 
77.37

 
 
 
 
Exercised
(3.7
)
 
34.98

 
 
 
 
Cancelled/forfeited
(0.9
)
 
61.46

 
 
 
 
Outstanding as of December 31, 2014
24.3

 
$
48.92

 
6
 
$
892.6

Vested and expected to vest as of December 31, 2014 (1)
23.0

 
$
48.00

 
6
 
$
869.1

Vested as of December 31, 2014
12.9

 
$
37.37

 
4
 
$
624.3


(1) 
The “Expected to Vest” options are the net unvested options that remain after applying the forfeiture rate assumption to total unvested options
Summary Of Options Outstanding
Options outstanding as of December 31, 2014 are summarized below:
 
Outstanding
 
Exercisable
Exercise Price
Shares
(in millions)
 
Average
Exercise Price
 
Average
Remaining
Life
(in years)
 
Shares
(in millions)
 
Average
Exercise Price
$25.85 to $31.16
4.3

 
$
28.61

 
3
 
4.3

 
$
28.61

$31.17 to $38.07
4.8

 
36.36

 
3
 
4.1

 
36.23

$38.08 to $49.59
3.9

 
43.42

 
5
 
2.6

 
41.12

$49.60 to $61.53
5.7

 
54.22

 
7
 
1.5

 
52.04

$61.54 to $82.23
5.6

 
74.00

 
9
 
0.4

 
68.13
RSU And Restricted Stock Activity
The following summarizes information on unvested RSUs and restricted shares activity (in millions; except weighted average grant-date fair value):
 
Number of RSUs/Restricted
Shares 
 
Weighted Average
Grant-Date  Fair Value
Unvested as of January 1, 2012
6.0

 
$
37.72

Granted
1.8

 
52.26

Vested
(1.7
)
 
34.86

Forfeited
(0.5
)
 
36.84

Unvested as of December 31, 2012
5.6

 
43.29

Granted
1.5

 
64.83

Vested
(1.4
)
 
38.66

Forfeited
(0.5
)
 
43.90

Unvested as of December 31, 2013
5.2

 
51.04

Granted
1.6

 
76.71

Vested
(1.5
)
 
42.60

Forfeited
(0.4
)
 
58.82

Unvested as of December 31, 2014
4.9

 
61.64