XML 87 R70.htm IDEA: XBRL DOCUMENT v3.3.1.900
STOCK-BASED COMPENSATION (Details) - USD ($)
$ / shares in Units, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
STOCK-BASED COMPENSATION      
Proceeds from stock option exercises $ 64,003 $ 36,015 $ 42,684
Stock options      
STOCK-BASED COMPENSATION      
Award vesting period 3 years    
Expiration period 10 years    
Compensation expense $ 17,900 18,000 13,700
Compensation expense, net of tax 11,600 11,700 9,200
Income tax benefit related to compensation expense 6,300 6,300 4,500
Fair value of shares vested 16,100 14,100 13,000
Proceeds from stock option exercises 64,000    
Actual tax benefit realized for the tax deduction from option exercises 12,500    
Unrecognized compensation cost expected to be recognized in future periods $ 12,800    
Weighted-average period over which compensation cost is expected to be recognized 1 year 3 months 18 days    
Stock options | Selling, research & development and administrative expenses      
STOCK-BASED COMPENSATION      
Compensation expense $ 15,700 16,000 12,100
Restricted stock units      
STOCK-BASED COMPENSATION      
Compensation expense 2,700 1,800 664
Unrecognized compensation cost expected to be recognized in future periods $ 1,600    
Weighted-average period over which compensation cost is expected to be recognized 1 year 3 months 18 days    
Weighted-Average Grant-Date Fair Value      
Fair value of units vested $ 757 614 571
Intrinsic value of units vested $ 877 $ 761 $ 661
Stock Option Plans | Stock options      
STOCK-BASED COMPENSATION      
Weighted-average fair value of stock options granted (in dollars per share) $ 12.83 $ 14.82 $ 10.16
Assumptions used to estimate fair value of stock options granted      
Dividend Yield (as a percent) 1.70% 1.70% 1.80%
Expected Stock Price Volatility (as a percent) 21.90% 22.20% 22.70%
Risk-free Interest Rate (as a percent) 1.60% 2.30% 1.30%
Expected Life of Option (years) 6 years 10 months 24 days 6 years 10 months 24 days 6 years 10 months 24 days
Stock options activity      
Outstanding at the beginning of the period (in shares) 8,107,806    
Granted (in shares) 1,391,355    
Exercised (in shares) (1,416,507)    
Forfeited or expired (in shares) (50,624)    
Outstanding at the end of the period (in shares) 8,032,030 8,107,806  
Exercisable at the end of the period (in shares) 5,324,545    
Weighted Average Exercise Price      
Outstanding at the beginning of the period (in dollars per share) $ 46.74    
Granted (in dollars per share) 64.60    
Exercised (in dollars per share) 37.15    
Forfeited or expired (in dollars per share) 60.84    
Outstanding at the end of the period (in dollars per share) 51.44 $ 46.74  
Exercisable at the end of the period (in dollars per share) $ 45.23    
Weighted-Average Remaining Contractual Term (Years):      
Outstanding at the end of the period 6 years 1 month 6 days    
Exercisable at the end of the period 4 years 10 months 24 days    
Aggregate Intrinsic Value:      
Outstanding at the end of the period $ 170,340    
Exercisable at the end of the period 145,978    
Intrinsic Value of Options Exercised $ 43,041 $ 33,059 $ 37,822
Stock Option Plans | Restricted stock units      
STOCK-BASED COMPENSATION      
Award vesting period 3 years    
Restricted stock unit activity      
Balance at the beginning of the period (in shares) 61,750,000    
Granted (in shares) 17,957,000    
Vested (in shares) (13,331,000)    
Balance at the end of the period (in shares) 66,376,000 61,750,000  
Weighted-Average Grant-Date Fair Value      
Nonvested at the beginning of the period (in dollars per share) $ 64.09    
Granted (in dollars per share) 67.96    
Vested (in dollars per share) 56.75    
Nonvested at the end of the period (in dollars per share) $ 66.61 $ 64.09  
Director Stock Option Plans | Stock options      
STOCK-BASED COMPENSATION      
Weighted-average fair value of stock options granted (in dollars per share)   $ 14.07 $ 10.89
Assumptions used to estimate fair value of stock options granted      
Dividend Yield (as a percent)   1.80% 1.90%
Expected Stock Price Volatility (as a percent)   22.20% 23.00%
Risk-free Interest Rate (as a percent)   2.20% 1.30%
Expected Life of Option (years)   6 years 10 months 24 days 6 years 10 months 24 days
Stock options activity      
Outstanding at the beginning of the period (in shares) 368,668    
Exercised (in shares) (65,167)    
Outstanding at the end of the period (in shares) 303,501 368,668  
Exercisable at the end of the period (in shares) 221,159    
Weighted Average Exercise Price      
Outstanding at the beginning of the period (in dollars per share) $ 53.52    
Exercised (in dollars per share) 41.93    
Outstanding at the end of the period (in dollars per share) 56.00 $ 53.52  
Exercisable at the end of the period (in dollars per share) $ 53.22    
Weighted-Average Remaining Contractual Term (Years):      
Outstanding at the end of the period 6 years 9 months 18 days    
Exercisable at the end of the period 6 years 4 months 24 days    
Aggregate Intrinsic Value:      
Outstanding at the end of the period $ 5,052    
Exercisable at the end of the period 4,297    
Intrinsic Value of Options Exercised $ 1,478 $ 741 $ 732
Director Stock Option Plans | Restricted stock units      
Restricted stock unit activity      
Granted (in shares) 18,857,000    
Balance at the end of the period (in shares) 18,857,000    
Weighted-Average Grant-Date Fair Value      
Granted (in dollars per share) $ 63.10    
Nonvested at the end of the period (in dollars per share) $ 63.10    
New long-term incentive program      
STOCK-BASED COMPENSATION      
Compensation expense $ 1,200 $ 530  
Performance period used to measure cumulative total shareholder return of common stock 3 years    
Expected total expense related to program over the performance period $ 2,700