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Equity-Based Compensation Expense (Tables)

9 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Black-Scholes Option-Pricing Model Assumptions

The fair value of the Options granted during 2014 was estimated on the grant date using the Pricing Model, based on the following assumptions:


Estimated average holding period (years)		5.16
Risk free interest rate (range)		1.064% - 2.489%
Expected volatility (range)		18.585% - 30.571%
Expected dividend rate		0.00%
Weighted average grant-date fair value per share of options granted		$267.62

Stock-Based Compensation Plans


				Weighted Avg.
	Options			Exercise Price
Outstanding at December 31, 2013		667		$	740.18
Granted		675			1,094.82
Exercised		(99	)		657.85
Forfeited		(18	)		819.08

Outstanding at September 30, 2014		1,225		$	941.31

Exercisable at September 30, 2014		177		$	627.80

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References+ Details