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Stock Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Option pricing valuation model for options granted | The assumptions used in the Black-Scholes option pricing valuation model for options granted by the Company in 2017, 2016 and 2015 are as follows:
| 2017 |  | 2016 |  | 2015
Risk-free interest rate | 2.09% |  | 1.39% |  | 1.78%
Expected life (in years) | 6.0 |  | 6.0 |  | 6.0
Expected volatility | 23.23% |  | 25.55% |  | 23.75%
Expected dividend yield | 1.86% |  | 2.15% |  | 1.97%
Summary of the status of MMC's stock option awards | A summary of the status of the Company’s stock option awards as of December 31, 2017 and changes during the year then ended is presented below:
| Shares |  |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value ($000)
Balance at January 1, 2017 | 13,242,529 |  |  | $ | 39.15 |  |  |  |  |
Granted | 1,710,853 |  |  | $ | 73.20 |  |  |  |  |
Exercised | (4,258,027 | ) |  | $ | 30.42 |  |  |  |  |
Forfeited | (494,653 | ) |  | $ | 62.00 |  |  |  |  |
Balance at December 31, 2017 | 10,200,702 |  |  | $ | 47.39 |  |  | 5.9 years |  | $ | 351,317 |
Options vested or expected to vest at December 31, 2017 | 10,052,720 |  |  | $ | 47.17 |  |  | 5.9 years |  | $ | 348,494 |
Options exercisable at December 31, 2017 | 6,247,224 |  |  | $ | 37.75 |  |  | 4.6 years |  | $ | 275,398 |
Summary of restricted stock units and performance stock units | A summary of the status of the Company's restricted stock units and performance stock units as of December 31, 2017 and changes during the period then ended is presented below:
| Restricted Stock Units |  | Performance Stock Units
| Shares |  | Weighted Average Grant Date Fair Value |  |  | Shares |  | Weighted Average Grant Date Fair Value |
Non-vested balance at January 1, 2017 | 3,044,029 |  | $ | 56.40 |  |  | 722,017 |  | $ | 54.68 |
Granted | 2,610,599 |  | $ | 73.23 |  |  | 260,387 |  | $ | 73.20 |
Vested | (1,307,825 | ) | $ | 55.31 |  |  | (212,458 | ) | $ | 48.19 |
Forfeited | (294,056 | ) | $ | 65.06 |  |  | (79,345 | ) | $ | 61.92 |
Non-vested balance at December 31, 2017 | 4,052,747 |  | $ | 66.97 |  |  | 690,601 |  | $ | 62.82 |

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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