XML 22 R48.htm IDEA: XBRL DOCUMENT v2.4.1.9
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The following table summarizes the assumptions used in estimating the fair value of these awards issued in 2014:
 
Stock Price on Measurement Date
Dividend Yield
Expected Volatility
Risk Free Interest Rate
Expected Term
Weighted Avg. Grant Date Fair Value
2014
$
106.44

2.1
%
22.7
%
1.0
%
3 Years
$
95.96

Schedule of Activity Related to Employee and Non-Employee Restricted Stock
Activity related to both employee and non-employee restricted stock for the year ended December 31, 2014 is as follows (in thousands, except per share amounts):
 
Shares
Weighted Average Grant Date Fair Value/Share
RESTRICTED STOCK AT DECEMBER 31, 2013
167

$
91.17

Shares granted
87

105.35

Shares vested
(83
)
83.73

Shares forfeited
(4
)
76.28

RESTRICTED STOCK AT DECEMBER 31, 2014
167

$
102.22

Summary of Stock Appreciation Rights
Activity related to SARs for the year ended December 31, 2014 is as follows (in thousands, except per share amounts):
 
Number of Rights
Weighted Average Exercise Price
Weighted Average Remaining Contractual Term
Aggregate Intrinsic Value
OUTSTANDING AT DECEMBER 31, 2013
1,531

$
69.68

 
 

Granted
251

106.73

 
 

Exercised
(314
)
57.16

 
 

Forfeited
(3
)
95.63

 
 

OUTSTANDING AT DECEMBER 31, 2014
1,465

$
78.64

7.4 Years
$
41,601

EXERCISABLE AT DECEMBER 31, 2014
947

$
65.79

6.4 Years
$
38,950

Summary of the Weighted-Average Assumption Used in Estimating Fair Value of Stock Appreciation Rights
The following table summarizes the weighted-average assumptions used in estimating the fair value of the SARs granted during the years 2014, 2013, and 2012:
 
Expected Dividend Yield
Expected Volatility
Risk Free Interest Rate
Expected Term
Weighted Avg. Grant Date Fair Value of 1 SAR
2014
2.0
%
21.8
%
1.6
%
5.3 Years
$
18.42

2013
1.9
%
28.3
%
1.6
%
5.4 Years
$
24.58

2012
2.0
%
29.4
%
0.7
%
5.5 Years
$
18.13

Summary of Performance Shares Valuation
The following table summarizes the related assumptions used to determine the fair values of the performance share awards granted during the years 2014, 2013, and 2012:
 
Stock Price on Measurement Date
Dividend Yield
Expected Volatility
Risk Free Interest Rate
Expected Term
Weighted Avg. Grant Date Fair Value
2014
$
106.44

2.1
%
22.7
%
1.0
%
3 Years
$
117.55

2013
$
107.87

1.9
%
33.8
%
0.6
%
3 Years
$
130.33

2012
$
83.73

2.0
%
27.3
%
0.4
%
3 Years
$
100.77

Summary of Stock Option Activity
Stock option activity for the year ended December 31, 2014 is set forth below (in thousands, except per share amounts):
 
 
Number of Shares

Weighted Average Exercise Price

Weighted Average Remaining Contractual Term

Aggregate Intrinsic Value

OUTSTANDING AT DECEMBER 31, 2013
51

$
47.95

 
 

Exercised
(51
)
47.95

 
 

OUTSTANDING AT DECEMBER 31, 2014

$


$

EXERCISABLE AT DECEMBER 31, 2014

$


$