Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2013

Stockholders' Equity Note [Abstract]

Summary of Authorized, Issued and Outstanding Shares

Our authorized, issued, and outstanding shares (stated in whole numbers) at year end consist of the following:



	Par Value	2013	2012
Preferred stock	.01/share
Authorized		5,000,000	5,000,000
Shares issued and outstanding		—	—
Common stock	.01/share
Authorized		400,000,000	400,000,000
Shares issued and outstanding		296,753,544	296,564,382

Summary of Stock Option Plan Activity and Summary of Stock Options Granted

The following tables summarize the details of grants made under our stock option plan that are still outstanding, and the assumptions used to value these grants. All options granted were effective at the close of business on the date of grant.



	Options Granted	Option Exercise (Strike) Price		Closing Stock Price on Date of Grant		December 31, 2013
Date of Grant	Options Granted	Option Exercise (Strike) Price		Closing Stock Price on Date of Grant		Options Outstanding	Options Exercisable
April 16, 2013	205,000	$	54.00	$	49.25	172,500	—
April 17, 2012	1,235,000	$	54.00	$	49.01	1,127,500	—
April 19, 2011	410,000	$	35.00	$	31.78	350,000	25,000
April 20, 2010	530,000	$	30.00	$	27.13	300,000	—
April 21, 2009	790,000	$	27.00	$	17.61	413,300	173,300
April 15, 2008	550,000	$	27.00	$	24.35	206,750	113,000
April 17, 2007	4,380,000	$	22.50	$	20.15	1,786,580	1,131,080
Total	8,100,000					4,356,630	1,442,380

A summary of the activity under our stock option plan is as follows:



	Options Outstanding		Exercise Price¹		Remaining Life²
Outstanding as of January 1, 2013	4,835,792		$	32.51	5.40
Granted	205,000		$	54.00	8.41
Exercised	(389,162	)	$	23.91
Cancelled/forfeited	(295,000	)	$	35.89
Outstanding as of December 31, 2013	4,356,630		$	34.06	4.66
Exercisable as of December 31, 2013	1,442,380		$	23.61	2.74



	Options Outstanding		Exercise Price¹		Remaining Life²
Outstanding as of January 1, 2012	5,132,750		$	24.92	4.72
Granted	1,235,000		$	54.00	8.41
Exercised	(1,305,708	)	22.70
Cancelled/forfeited	(226,250	)	$	34.12
Outstanding as of December 31, 2012	4,835,792		$	32.51	5.40
Exercisable as of December 31, 2012	1,168,792		$	22.95	3.45


¹	Weighted-average exercise price


²	Weighted-average remaining contractual life in years

Summary of Fair Value Assumptions for Options Granted



Date of Grant	Risk-free Interest Rate		Expected Life of Option in Years	Expected Dividend Yield		Expected Stock Volatility		Estimated Fair Value of Stock Option
April 16, 2013	0.7	%	5.00	1.6	%	37.42	%	$	12.66
April 17, 2012	0.9	%	5.00	1.4	%	39.25	%	$	13.69
April 19, 2011	2.1	%	5.00	1.6	%	39.33	%	$	11.20
April 20, 2010	2.6	%	5.00	1.5	%	39.10	%	$	8.14
April 21, 2009	1.9	%	5.00	1.0	%	38.80	%	$	3.64
April 15, 2008	2.7	%	5.00	1.0	%	30.93	%	$	7.75
April 17, 2007	4.6	%	4.85	1.0	%	31.59	%	$	5.63

Reconciliation of Denominators used in Computation of Basic and Diluted Earnings per Share



Reconciliation	2013	2012	2011
Basic-weighted average shares outstanding	296,754,160	296,089,348	295,053,790
Weighted shares assumed upon exercise of stock options	929,428	1,061,602	814,936
Diluted-weighted average shares outstanding	297,683,588	297,150,950	295,868,726

Summary of Anti-Dilutive Options Excluded



Summary of Anti-dilutive Options Excluded	2013		2012	2011
Options to purchase shares of common stock	1,273,527		847,254	704,384
Weighted-average exercise prices of options	$	54.00	54.00	32.05