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Stock-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Weighted-Average Assumptions
The fair value of each option grant in the Non-employee Director Stock Option Plans was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions for the indicated periods:

 
2017
 
2016
 
2015
Dividend yield (1)
2.2
%
 
2.2
%
 
2.1
%
Expected volatility (2)
28.3
%
 
34.1
%
 
36.3
%
Risk-free interest rate (3)
2.2
%
 
1.9
%
 
2.2
%
Expected term of options (in years) (4)
6.4

 
6.2

 
6.0

Weighted-average grant-date fair value
$
5

 
$
4

 
$
5


(1)    Represents the Company's estimated cash dividend yield over the expected term of option grant.
(2)
Amount is determined based on analysis of historical price volatility of the Company's common stock. The expected volatility is based on the daily percentage change in the price of the stock over a period equal to the expected term of the option grant.
(3)    Represents the U.S. Treasury yield over the expected term of the option grant.
(4)
Represents the period of time that options granted are expected to be outstanding. Based on analysis of historical option exercise activity, the Company has determined that non-employee directors exhibit similar exercise and post-vesting termination behavior.

The fair value of each option grant in the Employee Stock Option Plan was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions for the indicated periods:
 
2017
 
2016

2015
Dividend yield (1)
2.1
%
 
2.2
%
 
2.1
%
Expected volatility (2)
26.7
%
 
33.2
%
 
35.8
%
Risk-free interest rate (3)
2.0
%
 
1.4
%
 
1.5
%
Expected term of options (in years) (4)
4.2

 
4.7

 
4.3

Weighted-average grant-date fair value
$
4

 
$
4

 
$
4


(1)    Represents the Company's estimated cash dividend yield over the expected term of option grant.
(2)
Amount is determined based on analysis of historical price volatility of the Company's common stock. The expected volatility is based on the daily percentage change in the price of the stock over a period equal to the expected term of the option grant.
(3)    Represents the U.S. Treasury yield over the expected term of the option grant.
(4)
Represents the period of time that options granted are expected to be outstanding. Based on analysis of historical option exercise activity, the Company has determined that all employee groups exhibit similar exercise and post-vesting termination behavior.
Summary of Stock Option Activity
A summary of the status of the Company’s employee stock option plan at December 31, 2017, 2016 and 2015, and changes during the same periods are presented in the tables and narrative below.
 
2017
 
Shares
(000)
 
Wtd. Avg.
Ex. Price
 
Wtd. Avg. 
Remaining
Contract Life
 
Aggregate
Intrinsic 
Value
(000)
Outstanding at Beginning of Year
14,252

 
$
15

 
 
 
 
Granted
1,295

 
20

 
 
 
 
Exercised
(3,476
)
 
13

 
 
 
$
25,156

Forfeited
(234
)
 
16

 
 
 
 
Outstanding at End of Year
11,837

 
16

 
2.7 Yrs
 
$
58,202

Exercisable at End of Year
5,297

 
$
15

 
2 Yrs
 
$
32,152


 
2016
 
Shares
(000)
 
Wtd. Avg.
Ex. Price
 
Wtd. Avg. 
Remaining
Contract Life
 
Aggregate
Intrinsic 
Value
(000)
Outstanding at Beginning of Year
17,692

 
$
14

 
 
 
 
Granted
3,227

 
17

 
 
 
 
Exercised
(6,291
)
 
12

 
 
 
$
31,790

Forfeited
(376
)
 
15

 
 
 
 
Outstanding at End of Year
14,252

 
15

 
3 Yrs
 
$
67,763

Exercisable at End of Year
4,855

 
$
14

 
2.3 Yrs
 
$
30,021


 
 
2015
 
Shares
(000)
 
Wtd. Avg.
Ex. Price
 
Wtd. Avg. 
Remaining
Contract Life
 
Aggregate
Intrinsic 
Value
(000)
Outstanding at Beginning of Year
17,829

 
$
13

 
 
 
 
Granted
2,966

 
17

 
 
 
 
Exercised
(2,344
)
 
12

 
 
 
$
11,596

Forfeited
(759
)
 
14

 
 
 
 
Outstanding at End of Year
17,692

 
14

 
3 Yrs
 
$
45,842

Exercisable at End of Year
6,858

 
$
13

 
2.1 Yrs
 
$
23,917


A summary of the status of the Company’s Non-employee Director Stock Option Plan at December 31, 2017, 2016, and 2015, and changes during the same periods are presented in the tables and narrative below: 
 
2017
 
Shares
(000)
 
Wtd. Avg.
Ex. Price
 
Wtd. Avg. 
Remaining
Contract Life
 
Aggregate
Intrinsic 
Value
(000)
Outstanding at Beginning of Year
381

 
$
14

 
 
 
 
Granted
56

 
19

 
 
 
 
Exercised
(31
)
 
14

 
 
 


Forfeited
—

 
—

 
 
 
 
Outstanding at End of Year
406

 
15

 
6.1 Yrs
 
$
2,565

Exercisable at End of Year
406

 
$
15

 
6.1 Yrs
 
$
2,565


 
2016
 
Shares
(000)
 
Wtd. Avg.
Ex. Price
 
Wtd. Avg. 
Remaining
Contract Life
 
Aggregate
Intrinsic 
Value
(000)
Outstanding at Beginning of Year
373

 
$
13

 
 
 
 
Granted
56

 
16

 
 
 
 
Exercised
(36
)
 
10

 
 
 


Forfeited
(12
)
 
16

 
 
 
 
Outstanding at End of Year
381

 
14

 
6.4 Yrs
 
$
2,180

Exercisable at End of Year
381

 
$
14

 
6.4 Yrs
 
$
2,180


 
 
2015
 
Shares
(000)
 
Wtd. Avg.
Ex. Price
 
Wtd. Avg. 
Remaining
Contract Life
 
Aggregate
Intrinsic 
Value
(000)
Outstanding at Beginning of Year
381

 
$
12

 
 
 
 
Granted
49

 
17

 
 
 
 
Exercised
(57
)
 
11

 
 
 


Forfeited
—

 
—

 
 
 
 
Outstanding at End of Year
373

 
13

 
6.4 Yrs
 
$
1,069

Exercisable at End of Year
373

 
$
13

 
6.4 Yrs
 
$
1,069
Schedule of Non-Vested Stock Option Activity
A summary of the status of the Company’s non-vested employee stock option activity for the years ended December 31, 2017, 2016, and 2015, are presented in the table and narrative below: 
 
2017
 
2016
 
2015
 
Shares
(000)
 
Wtd. Avg
Grant
Date
Fair Value
 
Shares
(000)
 
Wtd. Avg
Grant
Date
Fair Value
 
Shares
(000)
 
Wtd. Avg
Grant
Date
Fair Value
Nonvested Stock Options at Beginning of Year
9,397

 
$
4

 
10,835

 
$
4

 
13,265

 
$
4

Granted
1,295

 
4

 
3,227

 
4

 
2,966

 
4

Vested
(3,941
)
 
4

 
(4,343
)
 
4

 
(4,678
)
 
4

Forfeited
(211
)
 
4

 
(322
)
 
4

 
(718
)
 
4

Nonvested Stock Options at End of Year
6,540

 
$
4

 
9,397

 
$
4

 
10,835

 
$
4

A summary of the status of the Company’s nonvested Non-employee Director Stock Option Plan activity for the years ended December 31, 2017, 2016, and 2015, are presented in the table and narrative below:
 
 
2017
 
2016
 
2015
 
Shares
(000)
 
Wtd. Avg
Grant Date
Fair Value
 
Shares
(000)
 
Wtd. Avg
Grant Date
Fair Value
 
Shares
(000)
 
Wtd. Avg
Grant Date
Fair Value
Nonvested Stock Options at Beginning of Year
—

 
$
—

 
—

 
$
—

 
—

 
$
—

Granted
56

 
5

 
56

 
4

 
49

 
5

Vested
(56
)
 
5

 
(56
)
 
4

 
(49
)
 
5

Forfeited
—

 
—

 
—

 
—

 
—

 
—

Nonvested stock options at End of Year
—

 
$
—

 
—

 
$
—

 
—

 
$
—
Schedule of Employee Stock Purchase Plan
The following table summarizes shares sold to employees under the 2013 Plan in the years ended December 31, 2017, 2016 and 2015.
Plan
2017
 
2016
 
2015
Cumulative Shares Issued in 2017
Weighted Average Fair Value 2017
2013 Employee Stock Purchase Plan
175,479

 
177,781

 
201,785

794,997

$
17.12