Share-Based Awards (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of RSU and PRSU Settled in Stock and Restricted Stock Transactions

The following table summarizes the RSUs and PRSUs settled in stock and restricted stock transactions for the year ended December 31, 2016 (in thousands except for per share amounts):

	Shares / Units		Grant Date Fair Value Per Share
Nonvested, beginning of period	850		$	59
Granted	1,054		$	41
Vested	(389	)	$	59
Forfeited	(144	)	$	49
Nonvested, end of period	1,371		$	46

Summary of Restricted Stock Unit Transactions

The following table summarizes the RSUI and PRSUI transactions for the year ended December 31, 2016 (in thousands except for per share amounts):

	Units		Weighted-Average Grant Date Fair Value Per Share
Nonvested, beginning of period	109		$	52
Granted	94		$	58
Vested	(55	)	$	52
Forfeited	(24	)	$	56
Nonvested, end of period	124		$	56

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

Assumptions used in calculating the lattice-based fair value of options granted during 2015 and 2014 were as follows:

	2015		2014
Expected average term (in years)	6.0		6.1
Expected volatility	24% - 30%		25% - 34%
Weighted average volatility	28	%	32	%
Expected dividend yield	2.0	%	1.8	%
Risk-free interest rate	0.1% - 2.0%		0.1% - 2.8%

Summary of Stock Option Transactions

The following table summarizes the stock option transactions for the year ended December 31, 2016 (in thousands except for per share amounts):

	Options		Weighted- Average Price
Options outstanding, beginning of period	2,503		$	47
Options exercised	(468	)	$	34
Options forfeited	(157	)	$	58
Options outstanding, end of period	1,878		$	49
Exercisable, end of period	1,599		$	46

Summary of 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):

	2016		2015		2014
Exercised	$	9,595	$	9,890	$	31,623
Outstanding	$	22,383	$	16,605	$	61,947
Exercisable	$	22,383	$	16,605	$	54,071

Stock Options Outstanding By Price Range

Stock options outstanding at December 31, 2016 were as follows (options in thousands):

Price Range	Weighted-Average Contractual Life	Options	Weighted-Average Exercise Price
$10.01 to $20	2.2	199	$	14
$20.01 to $30	3.1	155	$	24
$30.01 to $40	1.1	112	$	39
$40.01 to $50	4.5	272	$	44
$50.01 to $60	4.2	313	$	52
$60.01 to $70	5.1	827	$	64
Options outstanding	4.2	1,878	$	49
Options exercisable	3.5	1,599	$	46

Assumptions Used In Calculating Fair Value of Options

The assumptions used to determine the fair value of the SAR awards at December 31, 2016 and 2015 were as follows:

	2016		2015
Expected average term (in years)	5.2 - 5.7		5.3 - 7.4
Expected volatility	28% - 31%		28% - 30%
Expected dividend yield	2.4	%	2.7	%
Risk-free interest rate	0.5% - 2.6%		0.2% - 2.3%

Summary of Stock Appreciation Right Transactions

The following table summarizes the SAR transactions for the year ended December 31, 2016 (in thousands except for per share amounts):

	SARs		Weighted-Average Price
Outstanding, beginning of period	162		$	33
Exercised	(84	)	$	29
Forfeited	(3	)	$	63
Outstanding, end of period	75		$	37
Exercisable, end of period	65		$	34