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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2022
Stockholders' Equity Note [Abstract]  
Schedule of Dividends Paid Previously or Declared
The following table presents the cash dividends either paid previously or declared by our board of directors for future payment on a per share basis:
20222021
First quarter$0.31 $0.28 
Second quarter$0.31 $0.28 
Third quarter$0.28 
Fourth quarter$0.28 
Total$0.62 $1.12 
Stock Options Granted
The following tables summarize the details of options granted under our stock option plans that were outstanding as of March 31, 2022, and the assumptions used to value these grants. All such grants 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
March 31, 2022
Date of GrantOptions
Outstanding
Options
Exercisable
January 3, 2022713,438 $62.00 $61.980 701,829 53,355 
January 4, 2021741,510 $48.00 $47.650 691,096 26,643 
January 2, 2020902,263 $38.00 $37.230 796,263 272,843 
January 2, 20191,316,924 $26.00 $25.705 958,946 421,462 
January 2, 20181,087,936 $27.50 $27.270 712,852 435,272 
January 3, 20171,529,578 $23.50 $23.475 706,446 542,046 
April 19, 20161,690,880 $23.00 $22.870 520,571 330,717 
April 21, 20151,786,440 $21.00 $20.630 394,072 232,732 
April 22, 20141,910,000 $28.00 $25.265 182,839 107,855 
April 16, 2013410,000 $27.00 $24.625 5,672 5,672 
Total12,088,969 5,670,586 2,428,597 
Fair Value Assumptions for Options Granted
Date of GrantRisk-free
Interest Rate
Expected Life of
Option in Years
Expected
Dividend
Yield
Expected
Stock
Volatility
Estimated Fair
Value of Stock
Option
January 3, 20221.3 %5.001.7 %28.52 %$13.68 
January 4, 20210.4 %5.002.0 %29.17 %$9.57 
January 2, 20201.7 %5.002.4 %25.70 %$6.81 
January 2, 20192.5 %5.002.9 %23.96 %$4.40 
January 2, 20182.2 %5.002.3 %23.45 %$5.02 
January 3, 20171.9 %5.002.6 %24.49 %$4.20 
April 19, 20161.3 %5.002.6 %26.34 %$4.09 
April 21, 20151.3 %5.002.7 %26.84 %$3.68 
April 22, 20141.8 %5.002.0 %28.55 %$4.79 
April 16, 20130.7 %5.001.6 %37.42 %$6.33 
Reconciliation of Denominators used in Computation of Basic and Diluted Earnings Per Share
The following tables present a reconciliation of the denominators used in the computation of basic and diluted earnings per share and a summary of the options to purchase shares of common stock which were excluded from the diluted earnings per share calculation because they were anti-dilutive:
 Three-month Period
Reconciliation20222021
Basic weighted average shares outstanding575,559,161 574,336,112 
Weighted shares assumed upon exercise of stock options2,059,645 2,210,857 
Diluted weighted average shares outstanding577,618,806 576,546,969 
Anti-Dilutive Options Excluded
 Three-month Period
Summary of Anti-dilutive Options Excluded20222021
Options to purchase shares of common stock930,401 711,977 
Weighted average exercise prices of options$58.40 48.00