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STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Mar. 31, 2013
STOCK-BASED COMPENSATION  
Weighted-average assumptions used to estimate fair value of stock options granted

Stock Awards Plans:

 

 

 

 

 

Three months ended March 31,

 

2013

 

2012

 

 

 

 

 

 

 

Dividend Yield

 

1.8

%

1.8

%

Expected Stock Price Volatility

 

22.7

%

22.9

%

Risk-free Interest Rate

 

1.2

%

1.3

%

Expected Life of Option (years)

 

6.9

 

6.9

 

Summary of option activity

 

 

 

 

Stock Awards Plans

 

Director Stock Option Plans

 

 

 

 

 

Weighted Average

 

 

 

Weighted Average

 

 

 

Shares

 

Exercise Price

 

Shares

 

Exercise Price

 

 

 

 

 

 

 

 

 

 

 

Outstanding, January 1, 2013

 

7,879,197

 

$

37.27

 

276,667

 

$

45.48

 

Granted

 

1,335,300

 

51.57

 

--

 

--

 

Exercised

 

(663,664

)

28.69

 

--

 

--

 

Forfeited or expired

 

(22,966

)

45.02

 

--

 

--

 

Outstanding at March 31, 2013

 

8,527,867

 

$

40.15

 

276,667

 

$

45.48

 

Exercisable at March 31, 2013

 

5,982,854

 

$

35.49

 

121,834

 

$

38.09

 

 

 

 

 

 

 

 

 

 

 

Weighted-Average Remaining Contractual Term (Years):

 

 

 

 

 

 

 

Outstanding at March 31, 2013

 

6.5

 

 

 

7.6

 

 

 

Exercisable at March 31, 2013

 

5.4

 

 

 

6.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Aggregate Intrinsic Value ($000):

 

 

 

 

 

 

 

 

 

Outstanding at March 31, 2013

 

$

146,648

 

 

 

$

3,283

 

 

 

Exercisable at March 31, 2013

 

$

130,756

 

 

 

$

2,347

 

 

 

 

 

 

 

 

 

 

 

 

 

Intrinsic Value of Options Exercised ($000) During the Three Months Ended:

 

 

 

 

 

March 31, 2013

 

$

16,515

 

 

 

$

--

 

 

 

March 31, 2012

 

$

21,524

 

 

 

$

509

 

 

 

Summary of restricted stock unit activity

 

 

 

 

 

 

Weighted-Average

 

 

 

Shares

 

Grant-Date Fair Value

 

 

 

 

 

 

 

Nonvested at January 1, 2013

 

25,862

 

$

48.76

 

Granted

 

9,948

 

53.94

 

Vested

 

(11,208

)

44.27

 

Nonvested at March 31, 2013

 

24,602

 

$

52.90