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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-Based Compensation Expense | Stock based compensation expense for the years ended December 31, 2017, 2016 and 2015 was as follows (in millions):
| 2017 |  | 2016 |  | 2015
Stock based compensation | $ | 83.1 |  |  | $ | 78.8 |  |  | $ | 61.8 |
Tax benefit recognized in net earnings | 29.1 |  |  | 27.6 |  |  | 21.6 |
Windfall tax benefit, net | — |  |  | — |  |  | 22.2 |
Weighted-Average Assumptions of Stock-Based Compensation | The weighted-average fair value of options granted in 2017, 2016 and 2015 were calculated using the following weighted-average assumptions:
| 2017 |  | 2016 |  | 2015
Weighted-average fair value ($) | 40.87 |  |  | 34.57 |  |  | 33.98 |
Risk-free interest rate (%) | 2.03 |  |  | 1.44 |  |  | 1.53 |
Average expected option life (years) | 5.26 |  |  | 5.20 |  |  | 5.10 |
Expected volatility (%) | 18.74 |  |  | 21.35 |  |  | 22.17 |
Expected dividend yield (%) | 0.67 |  |  | 0.70 |  |  | 0.62 |
Stock-Based Compensation Activity | The following table summarizes the Company's activities with respect to its share-based compensation plans for the years ended December 31, 2017 and 2016:
| Number of shares |  | Weighted-average exercise price per share |  | Weighted-average contractual term |  | Aggregate intrinsic value
Outstanding at January 1, 2016 | 3,117,616 |  |  | $ | 104.54 |  |  |  |  |
Granted | 743,250 |  |  | 172.23 |  |  |  |  |
Exercised | (371,853 | ) |  | 75.23 |  |  |  |  |
Canceled | (69,416 | ) |  | 159.97 |  |  |  |  |
Outstanding at December 31, 2016 | 3,419,597 |  |  | 121.31 |  |  | 6.15 |  | $ | 211,369,740 |
Granted | 608,598 |  |  | 210.56 |  |  |  |  |  |
Exercised | (644,610 | ) |  | 95.14 |  |  |  |  |  |
Canceled | (187,721 | ) |  | 170.75 |  |  |  |  |  |
Outstanding at December 31, 2017 | 3,195,864 |  |  | 140.68 |  |  | 6.09 |  | $ | 368,589,147 |
Exercisable at December 31, 2017 | 1,766,869 |  |  | $ | 103.48 |  |  | 4.12 |  | $ | 269,474,477 |
Schedule of Stock-Based Compensation by Exercise Price Range | The following table summarizes information for stock options outstanding at December 31, 2017:
|  | Outstanding options |  | Exercisable options
Exercise price |  | Number |  | Average exercise price |  | Average remaining life (years) |  | Number |  | Average exercise price
$40.57 - 52.37 |  | 147,840 |  |  | $ | 47.38 |  |  | 1.7 |  | 147,840 |  |  | $ | 47.38 |
52.37 - 78.56 |  | 500,259 |  |  | 61.18 |  |  | 1.2 |  | 500,259 |  |  | 61.18 |
78.56 - 104.75 |  | 172,777 |  |  | 93.83 |  |  | 4.1 |  | 172,777 |  |  | 93.83 |
104.75 - 130.94 |  | 342,805 |  |  | 117.51 |  |  | 5.2 |  | 342,805 |  |  | 117.51 |
130.94 - 157.12 |  | 481,652 |  |  | 139.21 |  |  | 6.4 |  | 430,101 |  |  | 138.27 |
157.12 - 183.31 |  | 870,883 |  |  | 169.61 |  |  | 7.8 |  | 151,337 |  |  | 166.74 |
183.31 - 209.50 |  | 225,450 |  |  | 187.64 |  |  | 8.7 |  | 21,750 |  |  | 185.47 |
209.50 - 235.68 |  | 434,398 |  |  | 215.02 |  |  | 9.3 |  | — |  |  | — |
235.68 - 261.87 |  | 19,800 |  |  | 253.01 |  |  | 9.8 |  | — |  |  | — |
$40.57 - 261.87 |  | 3,195,864 |  |  | $ | 140.68 |  |  | 6.1 |  | 1,766,869 |  |  | $ | 103.48 |
Schedule of Nonvested Restricted Stock Awards Activity | A summary of the Company's nonvested shares activity for 2017 and 2016 is as follows:
| Number of shares |  | Weighted-average grant date fair value
Nonvested at December 31, 2015 | 709,275 |  |  | $ | 146.64 |
Granted | 555,730 |  |  | 172.67 |
Vested | (287,233 | ) |  | 141.27 |
Forfeited | (25,100 | ) |  | 139.56 |
Nonvested at December 31, 2016 | 952,672 |  |  | $ | 164.62 |
Granted | 410,267 |  |  | 205.88 |
Vested | (387,452 | ) |  | 155.95 |
Forfeited | (116,491 | ) |  | 173.53 |
Nonvested at December 31, 2017 | 858,996 |  |  | $ | 187.01 |

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