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Stock Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Values of Options Based on Stock Price at Grant Date and Assumptions

The expected term is based on the period of time that options granted are expected to be outstanding based on historical experience.

 

  

       

     

      
            2014     2013     2012  

Risk-free interest rate

         1.51 %      .88 %      .74 % 

Expected volatility

         34 %      44 %      47 % 

Expected dividend yield

         3.4 %      3.3 %      3.8 % 

Expected term

         5 years        5 years        5 years   

Weighted average grant date fair value of options per share

       $ 13.17      $ 13.78      $ 12.67   
Activity Under Company's Stock Plans

A summary of activity under the Company’s stock plans is presented below:

 

   

  
            2014     2013     2012  

Intrinsic value of options exercised

       $ 20.9      $ 19.6      $ 15.4   

Cash received from stock option exercises

         29.1        31.0        13.9   

Tax benefit related to stock award exercises

         4.4        3.9        4.4   

Stock based compensation

         16.2        14.0        13.9   

Tax benefit related to stock based compensation

         5.6        4.9        4.8   
Stock Option Activity

The summary of options as of December 31, 2014 and changes during the year then ended are presented below:

 

     NUMBER
OF SHARES		     PER SHARE
EXERCISE
PRICE*		      REMAINING
CONTRACTUAL
LIFE IN YEARS*		     AGGREGATE
INTRINSIC
VALUE		  

Options outstanding at January 1

      4,745,200      $ 41.11        

Granted

      656,200        59.15        

Exercised

      (780,700 )      37.21        

Cancelled

      (84,000 )      48.46        

Options outstanding at December 31

      4,536,700      $ 44.25         5.90      $ 107.8   
  

 

 

    

 

 

     

 

 

    

 

 

  

Vested and expected to vest

      4,414,300      $ 43.95         5.82      $ 106.2   
  

 

 

    

 

 

     

 

 

    

 

 

  

Exercisable

      2,335,800      $ 39.42         3.90      $ 66.8   
  

 

 

    

 

 

     

 

 

    

 

 

  

 

*  Weighted Average

 

 

  

   
Nonvested Restricted Shares Activity

The summary of nonvested restricted shares as of December 31, 2014 and changes during the year then ended is presented below:

 

  

   

NONVESTED SHARES

                 NUMBER
OF SHARES		     GRANT DATE
FAIR VALUE*		  

Nonvested awards outstanding at January 1

           166,700      $ 46.32   

Granted

           112,500        59.06   

Vested

           (93,500 )      51.17   
       

 

 

    

 

 

  

Nonvested awards outstanding at December 31

           185,700      $ 51.60   
       

 

 

    

 

 

  

*  Weighted Average
Dilutive and Antidilutive Options

The dilutive and antidilutive options are shown separately in the table below:

 

Year Ended December 31,

    2014      2013      2012  

Additional shares

      1,120,500         932,000         730,000   

Antidilutive options

      673,700         873,800         2,572,000