v3.5.0.2

Equity (Tables)

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Summary of Stock Options

The following is a summary of stock options for the nine months ended September 30, 2016:

	Number of Options			Weighted Average Exercise Price per Option
Outstanding at December 31, 2015	774,551			$	159.66
Granted	150,323			250.07
Exercised	(135,048	)		146.26
Outstanding at September 30, 2016	789,826			179.16

Details of Stock Options Outstanding

Details of stock options outstanding as of September 30, 2016 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	789,826			$	179.16			6.8		$	71
Exercisable	544,367			$	154.58			5.9		$	62

Stock Options Valuation Assumptions

During the nine months ended September 30, 2016 and 2015, we used the weighted-average assumptions in the table below to compute the value of all options for shares of common stock granted to employees:

	Nine Months Ended September 30,
Assumptions:	2016				2015
Risk-free interest rate	1.51		%		1.08		%
Expected life in years	5.0				5.0
Expected volatility	24		%		24		%
Expected dividend yield	1.36		%		1.25		%
Estimated weighted-average fair value of options granted per share	$	49.39			$	40.94

Summary of Nonvested Restricted Stock Options

The following is a summary of the non-vested restricted shares for the nine months ended September 30, 2016:

	Number of Restricted Stock Shares		Weighted Average Grant-Date Fair Value per Share
Non-vested at December 31, 2015	1,254,235		$	199.44
Granted	614,479		249.43
Vested	(476,581)		188.73
Forfeited	(66,266)		227.27
Non-vested at September 30, 2016	1,325,867		225.54

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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
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
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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
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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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

Reference 1: 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=6415400&loc=d3e5070-113901

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