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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 2020
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:
| 2020 |  | 2019
First quarter | $ | 0.250 |  |  | 0.215 |
Second quarter | 0.250 |  |  | 0.215 |
Third quarter | 0.250 |  |  | 0.220 |
Fourth quarter |  |  | 0.220 |
Total | $ | 0.750 |  |  | 0.870 |
Stock Options Granted | The following tables summarize the details of options granted under our stock option plans that were outstanding as of June 30, 2020, 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, 2020
Date of Grant |  |  |  | Options Outstanding |  | Options Exercisable
January 2, 2020 | 902,263 |  |  | $ | 38.00 |  |  | $ | 37.230 |  |  | 891,871 |  |  | 24,964 |
January 2, 2019 | 1,316,924 |  |  | $ | 26.00 |  |  | $ | 25.705 |  |  | 1,242,736 |  |  | 29,010 |
January 2, 2018 | 1,087,936 |  |  | $ | 27.50 |  |  | $ | 27.270 |  |  | 923,634 |  |  | 297,568 |
January 3, 2017 | 1,529,578 |  |  | $ | 23.50 |  |  | $ | 23.475 |  |  | 1,086,892 |  |  | 472,572 |
April 19, 2016 | 1,690,880 |  |  | $ | 23.00 |  |  | $ | 22.870 |  |  | 1,036,809 |  |  | 537,431 |
April 21, 2015 | 1,786,440 |  |  | $ | 21.00 |  |  | $ | 20.630 |  |  | 689,259 |  |  | 439,859 |
April 22, 2014 | 1,910,000 |  |  | $ | 28.00 |  |  | $ | 25.265 |  |  | 452,323 |  |  | 291,073 |
April 16, 2013 | 410,000 |  |  | $ | 27.00 |  |  | $ | 24.625 |  |  | 63,844 |  |  | 45,106 |
April 17, 2012 | 2,470,000 |  |  | $ | 27.00 |  |  | $ | 24.505 |  |  | 181,440 |  |  | 181,440 |
Total | 13,104,021 |  |  |  |  |  |  | 6,568,808 |  |  | 2,319,023 |
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, 2020 | 1.7 | % |  | 5.00 |  | 2.4 | % |  | 25.70 | % |  | $ | 6.81 |
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 |
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 | 2020 |  | 2019 |  | 2020 |  | 2019
Basic weighted average shares outstanding | 573,550,730 |  |  | 572,669,693 |  |  | 573,197,303 |  |  | 573,159,138 |
Weighted shares assumed upon exercise of stock options | 1,577,540 |  |  | 1,105,366 |  |  | 1,754,697 |  |  | 1,392,211 |
Diluted weighted average shares outstanding | 575,128,270 |  |  | 573,775,059 |  |  | 574,952,000 |  |  | 574,551,349 |
Anti-Dilutive Options Excluded |
| Six-month Period |  | Three-month Period
Summary of Anti-dilutive Options Excluded | 2020 |  | 2019 |  | 2020 |  | 2019
Options to purchase shares of common stock | 893,428 |  |  | 450,960 |  |  | 895,566 |  |  | — |
Weighted average exercise prices of options | $ | 38.00 |  |  | 27.53 |  |  | $ | 38.00 |  |  | — |

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