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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Summary of RSUs | Restricted Stock Units — A summary of our RSUs is presented in the table below (units in thousands):
|  | Units |  |  | Weighted Average Per Share Fair Value |
Unvested at January 1, 2016 |  |  | 524 |  |  | $ | 43.76 |
Granted |  |  | 186 |  |  | $ | 57.38 |
Vested |  |  | (205 | ) |  | $ | 37.45 |
Forfeited |  |  | (15 | ) |  | $ | 51.17 |
Unvested at December 31, 2016 |  |  | 490 |  |  | $ | 51.32 |
Summary of PSUs | A summary of our PSUs, at 100% of the targeted amount, is presented in the table below (units in thousands):
|  | Units |  |  | Weighted Average Per Share Fair Value |
Unvested at January 1, 2016 |  |  | 1,762 |  |  | $ | 52.90 |
Granted |  |  | 555 |  |  | $ | 79.27 |
Vested |  |  | (664 | ) |  | $ | 48.38 |
Forfeited |  |  | (148 | ) |  | $ | 76.01 |
Unvested at December 31, 2016 |  |  | 1,505 |  |  | $ | 68.98 |
Summary of Stock Options | A summary of our stock options is presented in the table below (options in thousands):
|  | Options |  |  | Weighted Average Per Share Exercise Price |
Outstanding at January 1, 2016 |  |  | 7,507 |  |  | $ | 40.80 |
Granted |  |  | 1,387 |  |  | $ | 56.24 |
Exercised |  |  | (2,645 | ) |  | $ | 37.20 |
Forfeited or expired |  |  | (606 | ) |  | $ | 51.70 |
Outstanding at December 31, 2016(a) |  |  | 5,643 |  |  | $ | 45.12 |
Exercisable at December 31, 2016(b) |  |  | 2,921 |  |  | $ | 38.84 |
(a) | Stock options outstanding as of December 31, 2016 have a weighted average remaining contractual term of 6.9 years and an aggregate intrinsic value of $146 million based on the market value of our common stock on December 31, 2016.
(b) | Stock options exercisable as of December 31, 2016 have an aggregate intrinsic value of $94 million based on the market value of our common stock on December 31, 2016.
Summary of Exercisable Stock Options | Exercisable stock options at December 31, 2016, were as follows (options in thousands):
Range of Exercise Prices |  | Options |  |  | Weighted Average Per Share Exercise Price |  |  | Weighted Average Remaining Years |
$32.315-$40.00 |  |  | 2,141 |  |  | $ | 36.12 |  |  |  | 4.9 |
$40.01-$50.00 |  |  | 491 |  |  | $ | 41.36 |  |  |  | 7.2 |
$50.01-$54.635 |  |  | 289 |  |  | $ | 54.64 |  |  |  | 8.2 |
$32.315-$54.635 |  |  | 2,921 |  |  | $ | 38.84 |  |  |  | 5.6 |
Weighted Average Assumptions Used to Value Employee Stock Options Granted | The following table presents the weighted average assumptions used to value employee stock options granted during the years ended December 31 under the Black-Scholes valuation model:
|  | 2016 |  | 2015 |  | 2014
Expected option life |  | 4.7 years |  | 4.4 years |  | 4.8 years
Expected volatility |  | 18.4% |  | 16.7% |  | 18.4%
Expected dividend yield |  | 2.9% |  | 2.8% |  | 3.6%
Risk-free interest rate |  | 1.3% |  | 1.4% |  | 1.6%

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- Definition Tabular disclosure of the number, aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term for both performance-based awards (or share units) outstanding and performance-based awards (or share units) fully vested and expected to vest at the date of the latest statement of financial position. + 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)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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