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Stockholders' Equity | 9 Months Ended
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Sep. 30, 2021
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | (3) Stockholders' Equity Dividends On October 11, 2021, our board of directors declared a quarterly dividend of $0.28 per sh a re of common stock to be paid in cash on November 23, 2021 to shareholders of record at the close of business on October 26, 2021. Since 2011, we have paid quarterly cash dividends, and in 2020, we paid a special cash dividend late in the year. Our board of directors currently intends to continue paying quarterly cash dividends, provided that any future determination as to payment of dividends will depend on the financial condition and results of operations of the company and such other factors as are deemed relevant by the board of directors. The following table presents the cash dividends either paid previously or declared by our board of directors for future payment on a per share basis:
| 2021 |  | 2020
First quarter | $ | 0.28 |  |  | $ | 0.25 |
Second quarter | $ | 0.28 |  |  | $ | 0.25 |
Third quarter | $ | 0.28 |  |  | $ | 0.25 |
Fourth quarter | $ | 0.28 |  |  | $ | 0.25 |
Fourth quarter (special) |  |  | $ | 0.40 |
Total | $ | 1.12 |  |  | $ | 1.40 |
Stock Options The following tables summarize the details of options granted under our stock option plans that were outstanding as of September 30, 2021, 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 |  | September 30, 2021
Date of Grant |  |  |  | Options Outstanding |  | Options Exercisable
January 4, 2021 | 741,510 |  |  | $ | 48.00 |  |  | $ | 47.650 |  |  | 715,053 |  |  | 26,643 |
January 2, 2020 | 902,263 |  |  | $ | 38.00 |  |  | $ | 37.230 |  |  | 848,066 |  |  | 24,964 |
January 2, 2019 | 1,316,924 |  |  | $ | 26.00 |  |  | $ | 25.705 |  |  | 1,035,830 |  |  | 285,098 |
January 2, 2018 | 1,087,936 |  |  | $ | 27.50 |  |  | $ | 27.270 |  |  | 763,921 |  |  | 337,067 |
January 3, 2017 | 1,529,578 |  |  | $ | 23.50 |  |  | $ | 23.475 |  |  | 750,260 |  |  | 380,596 |
April 19, 2016 | 1,690,880 |  |  | $ | 23.00 |  |  | $ | 22.870 |  |  | 693,029 |  |  | 498,611 |
April 21, 2015 | 1,786,440 |  |  | $ | 21.00 |  |  | $ | 20.630 |  |  | 441,398 |  |  | 278,570 |
April 22, 2014 | 1,910,000 |  |  | $ | 28.00 |  |  | $ | 25.265 |  |  | 224,937 |  |  | 149,953 |
April 16, 2013 | 410,000 |  |  | $ | 27.00 |  |  | $ | 24.625 |  |  | 13,696 |  |  | 13,696 |
Total | 11,375,531 |  |  |  |  |  |  | 5,486,190 |  |  | 1,995,198 |
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 4, 2021 | 0.4 | % |  | 5.00 |  | 2.0 | % |  | 29.17 | % |  | $ | 9.57 |
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 |
All of the options in the tables above vest and become exercisable over a period of up to eight years. Generally, each option will terminate approximately ten years after the grant date. The fair value of each share-based option is estimated on the date of grant using a Black-Scholes valuation method that uses the assumptions listed above. The risk-free interest rate is based on the U.S. Treasury rate over the expected life of the option at the time of grant. The expected life is the average length of time over which we expect the employee groups will exercise their options, which is based on historical experience with similar grants. The dividend yield is estimated over the expected life of the option based on our current dividend payout, historical dividends paid, and expected future cash dividends. Expected stock volatilities are based on the movement of our stock price over the most recent historical period equivalent to the expected life of the option. Compensation expense equal to the grant date fair value is recognized for all of these awards over the vesting period. The stock-based compensation expense for the nine-month periods ended September 30, 2021 and 2020 was $4.3 and $4.3, respectively. Unrecognized stock-based compensation expense related to outstanding unvested stock options as of September 30, 2021 was $14.0 and is expected to be recognized over a weighted average period of 4.11 years. Any future changes in estimated forfeitures will impact this amount. 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:
| Nine-month Period |  | Three-month Period
Reconciliation | 2021 |  | 2020 |  | 2021 |  | 2020
Basic weighted average shares outstanding | 574,637,254 |  |  | 573,673,031 |  |  | 574,973,196 |  |  | 573,913,929 |
Weighted shares assumed upon exercise of stock options | 2,291,000 |  |  | 1,797,201 |  |  | 2,286,643 |  |  | 2,203,402 |
Diluted weighted average shares outstanding | 576,928,254 |  |  | 575,470,232 |  |  | 577,259,839 |  |  | 576,117,331 |
| Nine-month Period |  | Three-month Period
Summary of Anti-dilutive Options Excluded | 2021 |  | 2020 |  | 2021 |  | 2020
Options to purchase shares of common stock | 680,227 |  |  | 852,728 |  |  | 688,410 |  |  | — |
Weighted average exercise prices of options | $ | 48.00 |  |  | 38.00 |  |  | $ | 48.00 |  |  | — |
Any dilutive impact summarized above related to periods when the average market price of our stock exceeded the exercise price of the potentially dilutive stock options then outstanding.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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