v3.8.0.1
Stock Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary Of Stock Option Activity
Option activity for the year ended December 31, 2017 is summarized below (shares in thousands):
 
Shares
 
Weighted Average Exercise Price
 
Aggregate Intrinsic Value
($ in millions)
 
Weighted Average Remaining Contractual Term
Outstanding as of December 31, 2016
320

 
$
17.44

 
 
 
 
Granted
1

 
68.60

 
 
 
 
Exercised
(178
)
 
13.47

 
 
 
 
Forfeited
(13
)
 
62.86

 
 
 
 
Outstanding as of December 31, 2017
130

 
$
18.82

 
$
11

 
2.7
 
 
 
 
 
 
 
 
Exercisable as of December 31, 2017
115

 
$
13.75

 
$
10

 
1.9
Option Grant Pricing Assumptions
The fair value of each option grant is estimated on the date of the grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:
 
Year Ended December 31,
 
2017
 
2016
 
2015 (1)
Expected life (in years)
4.8
 
4.8
 
Risk-free interest rate
1.9%
 
1.6%
 
Expected volatility
37.5%
 
39.0%
 
Expected dividend yield
 
 
 
 
 
 
 
 
(1) No options were awarded in the year ended December 31, 2015.
Other Information Pertaining to Stock Option Activity
Other information pertaining to option activity is as follows:
 
Year Ended December 31,
 
2017
 
2016
 
2015 (1)
Weighted-average fair value of options granted
$
68.60

 
$
59.94

 
$

Total intrinsic value of stock options exercised ($ in millions)
$
12

 
$
19

 
$
28

 
 
 
 
 
 
(1) No options were awarded in the year ended December 31, 2015.
Summary of Non-Vested Restricted Stock And Restricted Stock
A summary of the Company's non-vested restricted stock and restricted stock unit shares as of December 31, 2017, and changes during the year ended December 31, 2017, is presented below (shares in thousands):
 
Shares
 
Weighted Average Grant Date Fair Value
Non-vested balance as of December 31, 2016
4,790

 
$
55.75

Granted
1,412

 
95.13

Vested
(1,883
)
 
58.10

Forfeited
(150
)
 
20.40

Non-vested balance as of December 31, 2017
4,169

 
$
69.30