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Stock Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2015
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.

 

        2015     2014     2013  

Risk-free interest rate

       1.35 %      1.51 %      .88 % 

Expected volatility

       28 %      34 %      44 % 

Expected dividend yield

       3.4 %      3.4 %      3.3 % 

Expected term

       5 years        5 years        5 years   

Weighted average grant date fair value of options per share

     $ 10.98        $ 13.17        $ 13.78   
Activity Under Company's Stock Plans
A summary of activity under the Company’s stock plans is presented below:   
        2015     2014     2013  

Intrinsic value of options exercised

       $   14.1        $   20.9        $   19.6   

Cash received from stock option exercises

       21.8        29.1        31.0   

Tax benefit related to stock award exercises

       3.5        4.4        3.9   

Stock based compensation

       14.6        16.2        14.0   

Tax benefit related to stock based compensation

       5.1        5.6        4.9   
Stock Option Activity
The summary of options as of December 31, 2015 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

     4,536,700      $ 44.25        

Granted

     569,500        62.46        

Exercised

     (582,300 )      37.50        

Cancelled

     (102,300 )      55.17        
 

 

 

    

 

 

       

Options outstanding at December 31

     4,421,600      $ 47.23        5.69       $ 17.5   
 

 

 

    

 

 

    

 

 

     

 

 

  

Vested and expected to vest

     4,325,600      $ 46.93        5.63       $ 17.5   
 

 

 

    

 

 

    

 

 

     

 

 

  

Exercisable

     2,590,700      $ 41.14        4.04       $ 17.5   
 

 

 

    

 

 

    

 

 

     

 

 

  

*  Weighted Average
Nonvested Restricted Shares Activity

The summary of nonvested restricted shares as of December 31, 2015 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

         185,700      $ 51.60   

Granted

         112,000        63.39   

Vested

         (115,800 )      51.70   
     

 

 

    

 

 

  

Nonvested awards outstanding at December 31

         181,900      $ 58.79   
     

 

 

    

 

 

  

 

*  Weighted Average
Dilutive and Antidilutive Options

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

  

    

  

Year Ended December 31,

    2015      2014     2013  

Additional shares

      906,100         1,120,500        932,000   

Antidilutive options

      1,180,400         673,700        873,800