XML 61 R48.htm IDEA: XBRL DOCUMENT v3.6.0.2
Note 11 - Stock Options Valuation Assumptions (Details) - $ / shares
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Expected option life in years(1) (Year) [1] 6 years 6 years 6 years
Expected stock price volatility percentage(2) [2] 25.00% 25.00% 27.00%
Risk-free interest rate percentage(3) [3] 1.40% 1.80% 1.90%
Expected dividend yield(4) [4] 0.50% 0.44% 0.46%
Fair value as of the date of grant (in dollars per share) $ 5.28 $ 5.96 $ 6.25
[1] We use historical employee exercise and option expiration data to estimate the expected life assumption for the Black-Scholes grant-date valuation. We believe that this historical data is currently the best estimate of the expected term of a new option. We use a weighted-average expected life for all awards.
[2] We use our stock's historical volatility for the same period of time as the expected life. We have no reason to believe that its future volatility will differ from the past.
[3] The rate is based on the U.S. Treasury yield curve in effect at the time of the grant for the same period of time as the expected life.
[4] The calculation is based on the total expected annual dividend payout divided by the average stock price.