EQUITY COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2017

EQUITY COMPENSATION PLANS

Summary of stock option activity and average exercise prices

	2017			2016			2015
	Number of	Exercise		Number of	Exercise		Number of	Exercise
	Options	Price (a)		Options	Price (a)		Options	Price (a)
Outstanding, beginning of year	11,910,501		$ 84.22	12,378,372		$ 74.23	13,169,776		$ 63.88
Granted	1,491,893		136.87	1,679,941		117.60	1,686,816		118.99
Exercised	(1,951,920)		56.00	(2,061,553)		50.33	(2,316,025)		46.22
Canceled	(70,461)		116.44	(86,259)		111.08	(162,195)		99.67
Outstanding, end of year	11,380,013		$ 95.76	11,910,501		$ 84.22	12,378,372		$ 74.23
Exercisable, end of year	8,371,809		$ 84.40	8,720,943		$ 72.35	9,248,880		$ 61.18
Vested and expected to vest, end of year	11,200,505		$ 95.25

(a) Represents weighted average price per share.

Weighted-average grant-date fair value of options granted and significant assumptions used in determining the underlying fair value of each option grant

	2017			2016			2015
Weighted-average grant-date fair value of options
granted at market prices		$ 30.34			$ 25.59			$ 25.71
Assumptions
Risk-free rate of return		2.2	%		2.0	%		1.8	%
Expected life		6	years		6	years		6	years
Expected volatility		22.7	%		22.9	%		22.9	%
Expected dividend yield		1.2	%		1.3	%		1.2	%

Summary of non-vested PBRSU awards and restricted stock activity

	PBRSU	Grant Date		RSAs and	Grant Date
	Awards	Fair Value (a)		RSUs	Fair Value (a)
December 31, 2014	1,593,234		$ 78.59	401,071		$ 80.33
Granted	368,373		114.31	103,841		112.90
Vested / Earned	(468,317)		52.97	(212,576)		67.70
Canceled	(49,101)		90.97	(19,101)		81.06
December 31, 2015	1,444,189		$ 95.59	273,235		$ 102.49
Granted	371,859		112.29	88,437		109.27
Vested / Earned	(402,509)		68.64	(96,874)		94.06
Canceled	(26,852)		105.09	(10,411)		105.07
December 31, 2016	1,386,687		$ 107.70	254,387		$ 107.95
Granted	323,750		131.71	96,980		125.34
Vested / Earned	(312,745)		99.65	(86,622)		102.02
Canceled	(34,856)		108.16	(15,343)		109.72
December 31, 2017	1,362,836		$ 115.24	249,402		$ 116.66

Represents weighted average price per share.