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Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2021

Stockholders' Equity Note [Abstract]

Schedule of Dividends Paid Previously or Declared

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 Granted

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

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 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

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:

			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

Anti-Dilutive Options Excluded

			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					—

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