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Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2018

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 2018, 2017 and 2016 were $13.04, $16.78 and $12.43, respectively, using the following assumptions:

		2018			2017			2016
Expected term (in years)		6.34			6.00			6.00
Expected volatility		25.27	%		22.58	%		25.44	%
Expected dividend yield		1.35	%		0.82	%		1.10	%
Risk-free interest rate		2.75	%		2.29	%		2.18	%

Stock-based Compensation Expense

The Company recognized stock-based compensation expense in its Consolidated Financial Statements in 2018, 2017 and 2016 as follows:

		2018				2017				2016
Stock-based compensation expense		$	23,805			$	36,366			$	16,017
Less: Deferred tax benefit		(5,078		)		(7,891		)		(5,612		)
Stock-based compensation expense, net of tax		$	18,727			$	28,475			$	10,405

Stock Option Plans

This table presents certain information relating to the Company’s stock option plans for 2018, 2017 and 2016:

		Number of Shares			Weighted Avg. Price
Balance as of December 31, 2015		19,237,000			$	28.71
Granted		2,310,000			49.57
Exercised		(1,809,000	)		24.82
Expired or canceled		(1,669,000	)		30.86
Balance as of December 31, 2016		18,069,000			$	31.57
Granted		2,057,000			69.87
Exercised		(2,370,000	)		21.22
Expired or canceled		(1,044,000	)		33.42
Balance as of December 31, 2017		16,712,000			$	37.63
Granted		2,468,000			49.94
Exercised		(3,232,000	)		25.93
Expired or canceled		(135,000	)		49.58
Balance as of December 31, 2018		15,813,000			$	41.84
Exercisable as of December 31, 2018		9,359,000			$	32.89
Available for future grant as of December 31, 2018		21,775,000

Stock Options Outstanding And Exercisable

This table summarizes information relating to all options outstanding and exercisable at December 31, 2018:

					Options Outstanding at December 31, 2018									Options Exercisable at December 31, 2018
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		-	21.05	1,996,000			$	16.63			2.09		1,996,000			$	16.63			2.09
22.45			-	23.86	2,379,000			23.13				3.04		2,379,000			23.13				3.04
27.03			-	40.64	3,332,000			37.10				5.54		2,390,000			35.70				5.36
45.99			-	53.16	4,268,000			49.01				9.06		908,000			49.61				8.00
53.34			-	71.12	3,838,000			62.69				8.19		1,686,000			53.36				7.02
					15,813,000									9,359,000

Common Stock Buyback

The following table provides the total number of shares repurchased and the related total costs in 2018, 2017 and 2016:

Year		Total Number of Shares Repurchased			Total Cost
2018		6,744,000			$	404,759
2017		4,403,000			248,114
2016		6,600,000			294,374

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