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Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2019
Equity [Abstract] |
Summary of Stock Options | The following is a summary of stock option activity for the nine months ended September 30, 2019:
| Number of Options (in thousands) |  | Weighted Average Exercise Price per Option
Outstanding at December 31, 2018 | 3,610 |  |  | $ | 46.44 |
Granted | 493 |  |  | 76.16 |
Exercised | (575 | ) |  | 38.71 |
Outstanding at September 30, 2019 | 3,528 |  |  | 51.86 |
Details of Stock Options Outstanding | Details of stock options outstanding as of September 30, 2019 are as follows:
| Number of Options (in thousands) |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value (In millions)
Vested or expected to vest | 3,528 |  |  | $ | 51.86 |  |  | 6.4 |  | $ | 143 |
Exercisable | 2,458 |  |  | $ | 44.27 |  |  | 5.4 |  | $ | 118 |
Stock Options Valuation Assumptions | During the nine months ended September 30, 2019 and 2018, 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: | 2019 |  | 2018
Risk-free interest rate | 2.49 | % |  | 2.67 | %
Expected life in years | 5.9 |  |  | 6.0 |
Expected volatility | 20 | % |  | 20 | %
Expected dividend yield | 1.44 | % |  | 1.43 | %
Estimated weighted-average fair value of options granted per share | $ | 15.45 |  |  | $ | 14.08 |
Summary of Nonvested Restricted Stock Options | The following is a summary of the non-vested restricted share activity for the nine months ended September 30, 2019:
| Number of Restricted Shares (in thousands) |  | Weighted Average Grant-Date Fair Value per Share
Non-vested at December 31, 2018 | 4,470 |  | $ | 60.56 |
Granted | 1,675 |  | 76.65 |
Vested | (2,191) |  | 57.64 |
Forfeited | (189) |  | 66.38 |
Non-vested at September 30, 2019 | 3,765 |  | 69.13 |

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=116856206&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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