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Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2022

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:

			2022						2021
First quarter			$	0.31					$	0.28
Second quarter			$	0.31					$	0.28
Third quarter			$	0.31					$	0.28
Fourth quarter			$	0.31					$	0.28
Total			$	1.24					$	1.12

Stock Options Granted

The following tables summarize the details of options granted under our stock option plans that were outstanding as of September 30, 2022, 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, 2022
Date of Grant																					Options Outstanding						Options Exercisable
January 3, 2022			713,438						$	62.00					$	61.980					689,415						53,355
January 4, 2021			741,510						$	48.00					$	47.650					676,305						26,643
January 2, 2020			902,263						$	38.00					$	37.230					774,842						266,832
January 2, 2019			1,316,924						$	26.00					$	25.705					942,372						411,536
January 2, 2018			1,087,936						$	27.50					$	27.270					693,780						420,712
January 3, 2017			1,529,578						$	23.50					$	23.475					675,420						516,344
April 19, 2016			1,690,880						$	23.00					$	22.870					498,563						375,563
April 21, 2015			1,786,440						$	21.00					$	20.630					363,211						286,051
April 22, 2014			1,910,000						$	28.00					$	25.265					137,868						137,868
Total			11,678,969																		5,451,776						2,494,904

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 3, 2022			1.3		%				5.00						1.7		%				28.52		%				$	13.68
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

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			2022						2021						2022						2021
Basic weighted average shares outstanding			574,667,188						574,637,254						573,019,381						574,973,196
Weighted shares assumed upon exercise of stock options			1,912,011						2,291,000						1,724,550						2,286,643
Diluted weighted average shares outstanding			576,579,199						576,928,254						574,743,931						577,259,839

Anti-Dilutive Options Excluded

			Nine-month Period												Three-month Period
Summary of Anti-dilutive Options Excluded			2022						2021						2022						2021
Options to purchase shares of common stock			1,343,160						680,227						1,340,567						688,410
Weighted average exercise prices of options			$	55.23					48.00						$	55.22					48.00

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