v2.4.0.8

Equity (Tables)

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Summary of Stock Options

The following is a summary of stock options for the six months ended June 30, 2014:

	Number of Options			Weighted Average Exercise Price per Option
Outstanding at December 31, 2013	872,347			$	97.92
Granted	154,202			206.87
Exercised	(135,620	)		34.55
Outstanding at June 30, 2014	890,929			126.97

Details of Stock Options Outstanding

Details of stock options outstanding as of June 30, 2014 are as follows:

	Number of Options			Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (In millions)
Vested or expected to vest	890,929			$	126.97			6.1		$	58
Exercisable	642,627			$	107.94			5.0		$	52

Stock Options Valuation Assumptions

During the six months ended June 30, 2014 and 2013, the Company used the weighted-average assumptions in the table below to compute the value of all options for shares of common stock granted to employees:

	Six Months Ended June 30,
Assumptions	2014				2013
Risk-free interest rate	1.23		%		0.53		%
Expected life in years	5.0				4.0
Expected volatility	27		%		37		%
Expected dividend yield	1.26		%		0		%
Estimated weighted-average fair value of options granted per share	$	45.23			$	38.41

Summary of Nonvested Restricted Stock Options

The following is a summary of the non-vested restricted shares for the six months ended June 30, 2014:

	Number of Restricted Stock Shares		Weighted Average Grant-Date Fair Value per Share
Non-vested at December 31, 2013	1,234,552		$	147.00
Granted	625,413		205.13
Vested	(408,182)		119.75
Forfeited	(29,052)		149.79
Non-vested at June 30, 2014	1,422,731		180.31

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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

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

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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

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Tabular disclosure of the number of fully vested share options (or share units) and share options expected to vest at the date of the latest statement of financial position, weighted-average exercise price (or conversion ratio), aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term for both options (or share units) currently outstanding and options (or share units) exercisable (or convertible).

+ References

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