Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2015

Share-based Compensation [Abstract]

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Methods Used

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:

	Six months ended June 30,
	2015			2014
Dividend yield	1.60		%	1.50		%
Volatility - stock option plans	31		%	36		%
Risk free interest rates	1.79		%	2.27		%
Expected life (years) - stock option plans	6.41 - 7.47			6.52 - 7.43
Weighted average fair value of stock options granted during the period	$	13.42		$	14.08

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Total stock compensation expense and the total related tax benefit recognized are as follows:

	Three months ended				Six months ended
	June 30,				June 30,
	2015		2014		2015		2014
Stock compensation expense	$	11,663	$	11,877	$	21,570	$	22,171
Recognized tax benefit	$	1,491	$	1,183	$	2,734	$	2,126