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Stock Option Plans (Tables) | 9 Months Ended
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Sep. 30, 2017
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Black-Scholes Option Pricing Model with Weighted Average | For purposes of expense recognition, the estimated fair values of the stock option grants are amortized to expense over the options’ vesting period. We estimated the fair value of stock options at the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:
|  | 2017 |  |  | 2016 |
Expected dividend yield |  |  | 2.8 | % |  |  | 3.0 | %
Expected risk-free interest rate |  |  | 2.3 | % |  |  | 1.6 | %
Volatility |  |  | 27.2 | % |  |  | 27.7 | %
Expected life (in years) |  |  | 5.0 |  |  |  | 5.5 |
Stock Option Activity and Related Information | The following is a summary of our stock option activity and related information for 2017 (in millions, except exercise price and year data):
|  | Nine-month period ended September 30, 2017 |
|  |  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  |  |  |  | Average |  |  |  |
|  |  |  |  | Weighted |  |  | Remaining |  |  |  |
|  | Shares |  |  | Average |  |  | Contractual |  |  | Aggregate |
|  | Under |  |  | Exercise |  |  | Term |  |  | Intrinsic |
|  | Option |  |  | Price |  |  | (in years) |  |  | Value |
Beginning balance |  |  | 10.3 |  |  | $ | 41.40 |  |  |  |  |  |  |  |  |
Granted |  |  | 1.6 |  |  |  | 56.85 |  |  |  |  |  |  |  |  |
Exercised |  |  | (1.2 | ) |  |  | 32.58 |  |  |  |  |  |  |  |  |
Forfeited or canceled |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Ending balance |  |  | 10.7 |  |  | $ | 44.83 |  |  |  | 4.16 |  |  | $ | 179.4 |
Exercisable at end of period |  |  | 2.7 |  |  | $ | 37.76 |  |  |  | 1.98 |  |  | $ | 63.7 |
Ending vested and expected to vest |  |  | 10.5 |  |  | $ | 44.75 |  |  |  | 4.13 |  |  | $ | 177.0 |
Other Information Regarding Stock Options Outstanding and Exercisable | Other information regarding stock options outstanding and exercisable at September 30, 2017 is summarized as follows (in millions, except exercise price and year data):
|  |  |  |  |  |  |  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  |  | Number Outstanding |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Weighted Average Exercise Price |  |  | Number Exercisable |  |  | Weighted Average Exercise Price |
$ | 23.76 |  |  | - |  | $ | 39.17 |  |  |  | 2.7 |  |  |  | 1.77 |  |  | $ | 36.12 |  |  |  | 2.1 |  |  | $ | 35.44 |
| 43.71 |  |  | - |  |  | 46.17 |  |  |  | 4.5 |  |  |  | 5.02 |  |  |  | 44.77 |  |  |  | — |  |  |  | — |
| 46.87 |  |  | - |  |  | 55.94 |  |  |  | 1.9 |  |  |  | 3.49 |  |  |  | 46.94 |  |  |  | 0.6 |  |  |  | 46.87 |
| 56.86 |  |  | - |  |  | 56.86 |  |  |  | 1.6 |  |  |  | 6.46 |  |  |  | 56.86 |  |  |  | — |  |  |  | — |
$ | 23.76 |  |  | - |  | $ | 56.86 |  |  |  | 10.7 |  |  |  | 4.16 |  |  | $ | 44.83 |  |  |  | 2.7 |  |  | $ | 37.76 |

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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 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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