Share-Based Awards (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

Assumptions used in calculating the lattice-based fair value of options granted during 2014, 2013 and 2012 were as follows:

	2014		2013		2012
Expected average term (in years)	6.1		6.1		6.3
Expected volatility	25% - 34%		27% - 36%		32% - 50%
Weighted average volatility	32	%	33	%	41	%
Expected dividend yield	1.8	%	1.6	%	1.1	%
Risk-free interest rate	0.1% - 2.8%		0.1% - 2.1%		0.1% - 2.1%

Summary Of Stock Option Transactions

The following table summarizes the stock option transactions for the year ended December 31, 2014 (in thousands except for per share amounts):

	Options		Weighted- Average Price
Options outstanding, beginning of period	3,391		$	40
Options granted	401		$	62
Options exercised	(1,002	)	$	38
Options forfeited	(73	)	$	58
Options outstanding, end of period	2,717		$	43
Exercisable, end of period	1,938		$	38

Summary Of The Aggregate Intrinsic Value Related To Options Outstanding, Exercisable And Exercised

The following table summarizes the aggregate intrinsic value related to options outstanding, exercisable and exercised as of and for the years ended December 31 (in thousands):

	2014		2013		2012
Exercised	$	31,623	$	28,879	$	34,443
Outstanding	$	61,947	$	100,054	$	60,963
Exercisable	$	54,071	$	81,930	$	35,873

Stock Options Outstanding By Price Range

Stock options outstanding at December 31, 2014 (options in thousands):

Price Range	Weighted-Average Contractual Life	Options	Weighted-Average Exercise Price
$10.01 to $20	4.0	409	$	13
$20.01 to $30	5.1	233	$	23
$30.01 to $40	3.1	262	$	39
$40.01 to $50	6.6	659	$	44
$50.01 to $60	6.7	494	$	52
$60.01 to $70	5.8	660	$	64
Options outstanding	5.6	2,717	$	43
Options exercisable	4.4	1,938	$	38

Assumptions Used In Calculating Fair Value Of Options

The assumptions used to determine the fair value of the SAR awards at December 31, 2014 and 2013 were as follows:

	2014		2013
Expected average term (in years)	3.7 - 5.4		3.5 - 4.3
Expected volatility	25% - 31%		24% - 32%
Expected dividend yield	1.7	%	1.2	%
Risk-free interest rate	0.0% - 2.3%		0.1% - 3.0%

Summary Of Stock Appreciation Right Transactions

The following table summarizes the SAR transactions for the year ended December 31, 2014 (in thousands except for per share amounts):

	SARs		Weighted-Average Price
Outstanding, beginning of period	210		$	26
Granted	12		$	62
Exercised	(46	)	$	20
Forfeited	—		$	—
Outstanding, end of period	176		$	30
Exercisable, end of period	148		$	25

Summary Of Restricted Stock Unit Transactions

The fair value of RSUIs is determined based on the market price of the Company’s shares on the grant date. The following table summarizes the RSUI transactions for the year ended December 31, 2014 (in thousands except for per share amounts):

	Restricted Stock Unit		Weighted-Average Grant Date Fair Value Per Share
Nonvested, beginning of period	147		$	66
Granted	72		$	66
Vested	(74	)	$	63
Forfeited	(16	)	$	66
Nonvested, end of period	129		$	66

The fair value of RSUs settled in stock and restricted stock is determined based on the market price of the Company’s shares on the grant date. The following table summarizes the RSUs settled in stock and restricted stock transactions for the year ended December 31, 2014 (in thousands except for per share amounts):

	Restricted Shares		Grant Date Fair Value Per Share
Nonvested, beginning of period	982		$	47
Granted	459		$	62
Vested	(464	)	$	46
Forfeited	(57	)	$	56
Nonvested, end of period	920		$	54