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Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

Assumptions Used In The Weighted Average Fair Value Of The Stock Options Granted

The weighted average fair value of the Company’s stock options granted during 2015, 2014 and 2013 were $12.16, $10.88 and $10.45, respectively, using the following assumptions:

		2015			2014			2013
Expected term (in years)		5.58			6.79			6.92
Expected volatility		23.86	%		26.98	%		31.46	%
Expected dividend yield		1.00	%		1.15	%		1.21	%
Risk-free interest rate		1.90	%		2.04	%		2.12	%

Stock-based Compensation Expense

The Company recognized stock-based compensation expense in its Consolidated Financial Statements in 2015, 2014 and 2013 as follows:

		2015				2014				2013
Stock-based compensation expense		$	17,312			$	13,463			$	37,865
Less: Deferred tax benefit		(6,107		)		(4,704		)		(13,823		)
Stock-based compensation expense, net of tax		$	11,205			$	8,759			$	24,042

Stock Option Plans

This table presents certain information relating to the Company’s stock option plans for 2015, 2014 and 2013:

		Number of Shares			Weighted Avg. Price
Balance as of December 31, 2012		25,610,000			$	20.81
Granted		2,281,000			33.67
Exercised		(3,733,000	)		17.26
Expired or canceled		(521,000	)		22.25
Balance as of December 31, 2013		23,637,000			$	22.58
Granted		2,293,000			40.05
Exercised		(5,261,000	)		19.52
Expired or canceled		(208,000	)		28.83
Balance as of December 31, 2014		20,461,000			$	25.26
Granted		2,005,000			53.34
Exercised		(2,927,000	)		21.44
Expired or canceled		(302,000	)		28.97
Balance as of December 31, 2015		19,237,000			$	28.71
Exercisable as of December 31, 2015		8,508,000			$	22.04
Available for future grant as of December 31, 2015		26,890,000

Stock Options Outstanding And Exercisable

This table summarizes information relating to all options outstanding and exercisable at December 31, 2015:

					Options Outstanding at December 31, 2015									Options Exercisable at December 31, 2015
Range of Exercise Prices (Per Share)					Number of Shares			Weighted Average Exercise Price (Per Share)				Weighted Average Remaining Contractual Life (Years)		Number of Shares			Weighted Average Exercise Price (Per Share)				Weighted Average Remaining Contractual Life (Years)
$	14.62		-	16.48	3,513,000			$	15.23			4.58		2,396,000			$	14.97			3.92
17.65			-	21.05	2,100,000			17.67				4.03		2,085,000			17.65				4.00
22.45			-	23.86	4,028,000			23.20				5.93		1,678,000			23.20				5.93
27.03			-	36.16	5,515,000			32.08				4.23		2,349,000			32.32				4.68
40.64			-	53.34	4,081,000			46.88				9.49		—			—				—
					19,237,000									8,508,000

Common Stock Buyback

The following table provides the total number of shares repurchased and the related total costs in 2015, 2014 and 2013:

Year		Total Number of Shares Repurchased			Total Cost
2015		5,951,000			$	289,587
2014		7,888,000			278,357
2013		6,789,000			209,942

X

- Definition

Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

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