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Stock Option Plans (Tables)

3 Months Ended

Mar. 31, 2019

Text Block [Abstract]

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:

		2019				2018
Expected dividend yield			1.7	%			2.3	%
Expected risk-free interest rate			2.5	%			2.7	%
Volatility			15.6	%			15.1	%
Expected life (in years)			5.5				5.5

Stock Option Activity and Related Information

The following is a summary of our stock option activity and related information for 2019 (in millions, except exercise price and year data):

		Three-month period ended March 31, 2019
										Weighted
										Average
						Weighted				Remaining
		Shares				Average				Contractual				Aggregate
		Under				Exercise				Term				Intrinsic
		Option				Price				(in years)				Value
Beginning balance			8.8			$	50.16
Granted			1.3				79.59
Exercised			(0.7	)			41.11
Forfeited or canceled			(0.1	)			51.52
Ending balance			9.3			$	54.92				4.24			$	217.2
Exercisable at end of period			3.2			$	44.68				2.47			$	106.2
Ending unvested and expected to vest			5.8			$	59.61				5.10			$	108.6

Other Information Regarding Stock Options Outstanding and Exercisable

											Options Outstanding												Options Exercisable
															Weighted
															Average
															Remaining				Weighted								Weighted
															Contractual				Average								Average
											Number				Term				Exercise				Number				Exercise
	Range of Exercise Prices										Outstanding				(in years)				Price				Exercisable				Price
$	39.17			—			$	39.17				0.6				0.95			$	39.17				0.6			$	39.17
	43.71			—				43.71				2.2				3.96				43.71				0.7				43.71
	46.17			—				46.87				2.5				2.51				46.47				1.9				46.56
	47.92							63.60				1.5				4.96				56.81				—				—
	70.74			—				70.74				1.2				5.96				70.74				—				—
	79.59			—				79.59				1.3				6.96				79.59				—				—
$	39.17			—			$	79.59				9.3				4.24			$	54.92				3.2			$	44.68

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901

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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=109197908&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=109197908&loc=d3e5070-113901

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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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=109197908&loc=d3e5070-113901

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