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Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2019

Stockholders' Equity Note [Abstract]

Schedule of Dividends Paid Previously or Declared

The following table presents the dividends either paid previously or declared by our board of directors for future payment on a per share basis:

	2019				2018
First quarter	$	0.215			0.185
Second quarter	0.215				0.185
Third quarter	0.220				0.200
Fourth quarter					0.200
Total	$	0.650			0.770

Stock Options Granted

The following tables summarize the details of options granted under our stock option plans that were still outstanding as of June 30, 2019, and the assumptions used to value these grants. All such grants were effective at the close of business on the date of grant.

	Options Granted			Option Exercise (Strike) Price				Closing Stock Price on Date of Grant				June 30, 2019
Date of Grant												Options Outstanding			Options Exercisable
January 2, 2019	1,316,924			$	26.00			$	25.705			1,303,670			29,010
January 2, 2018	1,087,936			$	27.50			$	27.270			1,033,248			42,370
January 3, 2017	1,529,578			$	23.50			$	23.475			1,247,616			371,622
April 19, 2016	1,690,880			$	23.00			$	22.870			1,286,260			327,170
April 21, 2015	1,786,440			$	21.00			$	20.630			975,939			463,383
April 22, 2014	1,910,000			$	28.00			$	25.265			743,716			494,356
April 16, 2013	410,000			$	27.00			$	24.625			118,094			76,844
April 17, 2012	2,470,000			$	27.00			$	24.505			872,358			764,306
April 19, 2011	820,000			$	17.50			$	15.890			56,300			56,300
Total	13,021,758											7,637,201			2,625,361

Fair Value Assumptions for Options Granted

Date of Grant	Risk-free Interest Rate			Expected Life of Option in Years		Expected Dividend Yield			Expected Stock Volatility			Estimated Fair Value of Stock Option
January 2, 2019	2.5	%		5.00		2.9	%		23.96	%		$	4.40
January 2, 2018	2.2	%		5.00		2.3	%		23.45	%		$	5.02
January 3, 2017	1.9	%		5.00		2.6	%		24.49	%		$	4.20
April 19, 2016	1.3	%		5.00		2.6	%		26.34	%		$	4.09
April 21, 2015	1.3	%		5.00		2.7	%		26.84	%		$	3.68
April 22, 2014	1.8	%		5.00		2.0	%		28.55	%		$	4.79
April 16, 2013	0.7	%		5.00		1.6	%		37.42	%		$	6.33
April 17, 2012	0.9	%		5.00		1.4	%		39.25	%		$	6.85
April 19, 2011	2.1	%		5.00		1.6	%		39.33	%		$	5.60

Reconciliation of Denominators used in Computation of Basic and Diluted Earnings Per Share

The following tables present a reconciliation of the denominators used in the computation of basic and diluted earnings per share and a summary of the options to purchase shares of common stock which were excluded from the diluted earnings per share calculation because they were anti-dilutive:

	Six-month Period						Three-month Period
Reconciliation	2019			2018			2019			2018
Basic weighted average shares outstanding	572,669,693			574,783,228			573,159,138			574,280,852
Weighted shares assumed upon exercise of stock options	1,105,366			335,708			1,392,211			234,122
Diluted weighted average shares outstanding	573,775,059			575,118,936			574,551,349			574,514,974

Anti-Dilutive Options Excluded

	Six-month Period							Three-month Period
Summary of Anti-dilutive Options Excluded	2019				2018			2019				2018
Options to purchase shares of common stock	450,960				5,581,260			—				6,113,644
Weighted average exercise prices of options	$	27.53			26.43			$	—			26.09

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