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CAPITAL STOCK AND STOCK AWARD PLANS (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

A summary of our total compensation expense recognized in our consolidated statements of operations and comprehensive income for stock-based compensation is as follows (in thousands):

	2015				2014				2013
Stock options	$	14,607			$	9,243			$	5
Stock awards	40,785				36,510				6,808
Company expense on ESPP discount	2,269				2,108				2,281
Total stock-based compensation expense	$	57,661			$	47,861			$	9,094

Schedule of Share-based Compensation, Stock Options, Activity

The following schedule summarizes stock option activity in the plans. All outstanding unvested options as of December 31, 2015, relate to the performance-based grants from 2011 through 2015.

	Options			Weighted Average Exercise Price				Aggregate Intrinsic Value (in thousands)				Average Remaining Life (years)
Outstanding at December 31, 2014	4,704,620			$	65.40			$	44,644			8.1
Grants	1,493,388			63.80
Exercised	(40,337	)		62.30
Terminated	(6,810	)		66.99
Outstanding at December 31, 2015	6,150,861			$	65.03			$	—			8.1
Vested at December 31, 2015	1,991,263			$	64.49			$	—			7.3
Exercisable at December 31, 2015	1,991,263			$	64.49			$	—			7.3

Schedule of Intrinsic Value of Options Exercised

Information on the intrinsic value of options exercised is as follows (in thousands):

2015	$	400
2014	4
2013	7,640

Schedule of Share-based Compensation, Activity

The following table summarizes performance-based options by year of grant:

Year of grant		First vesting date		Last vesting date		Options granted, net of forfeitures			Weighted average grant date fair value				Unvested options
2011		December 31, 2012		December 31, 2016		894,254			$	15.72			352,850
2012		December 31, 2013		December 31, 2017		1,143,939			13.15				725,564
2013		December 31, 2014		December 31, 2018		1,405,906			11.83				702,953
2014		December 31, 2015		December 31, 2019		1,278,231			14.17				958,674
						4,722,330			$	13.52			2,740,041

The following table summarizes performance shares and restricted stock units by year of grant:

Year of grant		First vesting date		Last vesting date		Performance shares and stock units granted, net of forfeitures			Weighted average grant date fair value (1)				Unvested performance shares and restricted stock units
2011		December 31, 2012		December 31, 2016		569,854			$	53.72			222,243
2012		December 31, 2013		December 31, 2017		331,780			48.65				209,022
2013		December 31, 2014		December 31, 2018		395,016			46.45				197,510
2014		December 31, 2015		December 31, 2019		337,154			60.56				252,866
2015		December 31, 2016		December 31, 2020		390,400			51.88				390,400
						2,024,204			$	52.56			1,272,041

________________________ 

(1) Amount shown is the weighted average grant date fair value of performance shares and restricted stock units granted, net of forfeitures.

The following table summarizes these unvested stock option grants as of December 31, 2015:

Year of grant

First vesting date

Last vesting date

Options granted, net of forfeitures

Weighted average grant date fair value

Unvested options

2015

December 31, 2016

December 31, 2020

1,428,531

$

12.66

1,428,531

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value per option was estimated using the Black-Scholes option pricing model with the following assumptions:

	2015 Grants				2014 Grants				2013 Grants
Risk-free interest rate	1.95-1.96%				1.93-1.96%				.18-1.94%
Dividend per share (quarterly amounts)	$0.38-0.43				$0.35-0.38				$0.35
Expected volatility factor	22.0-24.0%				22.0-25.0%				25.0-27.5%
Expected option term	6.29 years				6.3 years				.01-6.3 years
Weighted average fair value per option	$	12.68			$	14.23			$	11.73

Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes our unvested performance shares and restricted stock unit grants as of December 31, 2015:

	Number of Performance Shares and Restricted Stock Units			Weighted Average Grant Date Fair Value
Unvested at December 31, 2014	1,536,154			$	54.67
Granted	407,019			52.08
Vested	(492,129	)		55.27
Forfeitures	(179,004	)		62.13
Unvested at December 31, 2015	1,272,040			$	52.56

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

The following table summarizes these unvested restricted share and restricted stock unit grants as of December 31, 2015:

	Number of Restricted Shares and Stock Units			Weighted Average Grant Date Fair Value
Unvested at December 31, 2014	954,124			$	52.12
Granted	482,222			51.93
Vested	(237,563	)		48.87
Forfeitures	(71,261	)		52.62
Unvested at December 31, 2015	1,127,522			$	52.69

Schedule Of Fair Value Stock Awards Vested

A summary of the fair value of full value awards vested (in thousands):

2015	$	40,785
2014	36,510
2013	6,808

Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity

The following is a summary of the employee stock purchase plan activity (dollar amounts in thousands):

		Shares purchased by employees			Aggregate cost to employees				Expense recognized by the company
2015		228,103			$	13,045			$	2,269
2014		231,564			11,943				2,108
2013		259,730			12,928				2,281

Share Repurchase Program Disclosure

The activity under this authorization is as follows (dollar amounts in thousands):

		Shares repurchased			Total value of shares repurchased
2013 Program
2013 Purchases		930,075			$	57,689
2014 Purchases		3,763,583			239,037
2015 Purchases		3,420,681			232,113

The activity under that program for each of the periods reported is as follows (dollar amounts in thousands):

		Shares repurchased			Total value of shares repurchased
2012 Program
2013 Purchases		10,000,000			$	579,853

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