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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
RSAs and PSAs Granted and Vesting Schedule of Awards | The following table shows the number of RSAs and PSAs granted during 2015 and the vesting schedule.
Vesting period | RSA’s |  | PSA’s |  | Total
At grant | 9,194 |  |  | — |  |  | 9,194 |
After three years of service | 176,588 |  |  | 106,411 |  |  | 282,999 |
Total | 185,782 |  |  | 106,411 |  |  | 292,193 |
Weighted-Average Assumptions Used for Grants of Stock Options and SARs | The following table shows the weighted-average assumptions used for grants of SARs, as well as the fair value of the grants based on those assumptions:
| 2015 |  | 2014 |  | 2013
Expected dividend yield | 0% |  | 0% |  | 0%
Forfeiture rate | 10.24% |  | 10.32% |  | 10.31%
Volatility | 33.98% |  | 34.92% |  | 32.00%
Risk free interest rate | 1.53% |  | 1.73% |  | 0.82%
Range of interest rates | 0.02% - 2.14% |  | 0.02% - 2.61% |  | 0.02% - 1.78%
Expected weighted-average life | 5.32 years |  | 5.36 years |  | 5.42 years
Fair value of SARs granted (in millions) | $12 |  | $5 |  | $5
Weighted-average grant date fair value of SARs granted (per underlying share) | $35.00 |  | $24.98 |  | $13.86
Summary of Stock Option Activity | Stock option activity was as follows:
| 2015 |  | 2014 |  | 2013
Options | Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price
Outstanding at beginning of year | 415,960 |  |  | $ | 40.19 |  |  | 956,502 |  |  | $ | 42.77 |  |  | 1,532,569 |  |  | $ | 41.69 |
Granted | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Exercised | (209,976 | ) |  | 43.53 |  |  | (540,542 | ) |  | 44.76 |  |  | (543,922 | ) |  | 39.54 |
Forfeited | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
Expired | (1,550 | ) |  | $ | 51.62 |  |  | 0 |  |  | 0 |  |  | (32,145 | ) |  | 45.81 |
Outstanding at end of year | 204,434 |  |  | $ | 36.66 |  |  | 415,960 |  |  | $ | 40.19 |  |  | 956,502 |  |  | $ | 42.77 |
Exercisable at end of year | 204,434 |  |  | $ | 36.66 |  |  | 415,960 |  |  | $ | 40.19 |  |  | 956,502 |  |  | $ | 42.77 |
Intrinsic value of exercised options (in millions) | $ | 10 |  |  |  |  | $ | 15 |  |  |  |  | $ | 4 |  |  |
Summary of Outstanding and Exercisable Options | The following table summarizes information about stock options outstanding at December 31, 2015:
| Outstanding |  | Exercisable
Aggregate intrinsic value - (in millions) | $11 |  | $11
Weighted-average remaining contractual term | 2.1 years |  | 2.1 years
The following table summarizes information about SARs outstanding at December 31, 2015:
| Outstanding |  | Exercisable
Aggregate intrinsic value - (in millions) | $52 |  | $40
Weighted-average remaining contractual term | 6.8 years |  | 5.3 years
Summary of SAR Activity | SAR activity was as follows:
|  | 2015 |  | 2014 |  | 2013
SARs |  | Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price
Outstanding at beginning of year |  | 1,292,142 |  |  | $ | 42.20 |  |  | 1,402,784 |  |  | $ | 36.36 |  |  | 1,535,804 |  |  | $ | 31.66 |
Granted |  | 332,159 |  |  | 107.31 |  |  | 195,560 |  |  | 74.59 |  |  | 326,811 |  |  | 46.13 |
Exercised |  | (179,702 | ) |  | 40.71 |  |  | (267,077 | ) |  | 34.03 |  |  | (376,673 | ) |  | 25.44 |
Forfeited |  | (45,441 | ) |  | 75.26 |  |  | (38,738 | ) |  | 50.57 |  |  | (80,515 | ) |  | 37.54 |
Expired |  | (1,547 | ) |  | 47.11 |  |  | (387 | ) |  | 46.07 |  |  | (2,643 | ) |  | 33.70 |
Outstanding at end of year |  | 1,397,611 |  |  | $ | 56.78 |  |  | 1,292,142 |  |  | $ | 42.20 |  |  | 1,402,784 |  |  | $ | 36.36 |
Exercisable at end of year |  | 736,075 |  |  | $ | 35.90 |  |  | 586,344 |  |  | $ | 33.03 |  |  | 520,426 |  |  | $ | 30.51 |
Intrinsic value of exercised SARs (in millions) |  | $ | 11 |  |  |  |  | $ | 11 |  |  |  |  | $ | 8 |  |  |
Summary of Restricted Stock Award Activity | Restricted stock award activity was as follows:
|  | 2015 |  | 2014 |  | 2013
Restricted Stock Awards |  | Shares |  | Weighted-Average Grant Date Fair Value |  | Shares |  | Weighted-Average Grant Date Fair Value |  | Shares |  | Weighted-Average Grant Date Fair Value
Outstanding at beginning of year |  | 691,621 |  |  | $ | 60.06 |  |  | 435,377 |  |  | $ | 40.92 |  |  | 444,362 |  |  | $ | 35.43 |
Granted |  | 185,782 |  |  | 107.17 |  |  | 423,644 |  |  | 73.42 |  |  | 167,515 |  |  | 46.17 |
Released |  | (253,801 | ) |  | 51.95 |  |  | (153,200 | ) |  | 43.16 |  |  | (161,976 | ) |  | 31.28 |
Forfeited |  | (57,155 | ) |  | 75.11 |  |  | (14,200 | ) |  | 54.08 |  |  | (14,524 | ) |  | 40.79 |
Outstanding at end of year |  | 566,447 |  |  | $ | 77.68 |  |  | 691,621 |  |  | $ | 60.06 |  |  | 435,377 |  |  | $ | 40.92 |
Summary of Performance Share Award Activity | Performance stock unit activity was as follows:
| Year Ended December 31, 2015 |  | Year Ended December 31, 2014
Performance Stock Units | Shares |  | Shares
Outstanding at beginning of year | 10,345 |  |  | — |
Granted | — |  |  | 10,345 |
Released | — |  |  | — |
Forfeited | (1,272 | ) |  | — |
Outstanding at end of year | 9,073 |  |  | 10,345 |
Performance share award activity was as follows:
|  | 2015 |  | 2014 |  | 2013
Performance Share Awards |  | Shares |  | Weighted-Average Grant Date Fair Value |  | Shares |  | Weighted-Average Grant Date Fair Value |  | Shares |  | Weighted-Average Grant Date Fair Value
Outstanding at beginning of year |  | 374,180 |  |  | $ | 61.53 |  |  | 195,159 |  |  | $ | 42.25 |  |  | 265,829 |  |  | $ | 35.55 |
Granted |  | 106,411 |  |  | 75.77 |  |  | 233,111 |  |  | 73.00 |  |  | 187,794 |  |  | 35.17 |
Released |  | (120,000 | ) |  | 38.67 |  |  | (33,535 | ) |  | 41.45 |  |  | (253,484 | ) |  | 27.90 |
Forfeited |  | (27,961 | ) |  | 73.45 |  |  | (20,555 | ) |  | 41.45 |  |  | (4,980 | ) |  | 41.46 |
Outstanding at end of year |  | 332,630 |  |  | $ | 73.40 |  |  | 374,180 |  |  | $ | 61.53 |  |  | 195,159 |  |  | $ | 42.25 |
Summary of Restricted Stock Unit Activity | Restricted stock unit activity was as follows:
| Year ended December 31,
Restricted Stock Units (Shares) | 2015 |  | 2014
Outstanding at beginning of year | 41,964 |  |  | — |
Granted | 11,618 |  |  | 42,071 |
Released | (8,689 | ) |  | (4 | )
Forfeited | (6,147 | ) |  | (103 | )
Outstanding at end of year | 38,746 |  |  | 41,964 |
Schedule of Assumptions Used | The fair value of the purchase rights issued to employees under the stock purchase plan is estimated using the following weighted-average assumptions for purchase rights granted. Expected lives of 3 months to 1 year have been used along with these assumptions.
| 2015 |  | 2014 |  | 2013
Fair market value | $ | 77.38 |  |  | $ | 64.99 |  |  | $ | 42.45 |
Option price | $ | 73.51 |  |  | $ | 61.74 |  |  | $ | 40.33 |
Expected dividend yield | 0 | % |  | 0 | % |  | 0 | %
Expected volatility | 41 | % |  | 31 | % |  | 19 | %
Risk free interest rate | 0.02 | % |  | 0.05 | % |  | 0.05 | %

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