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Shareholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2019
Equity [Abstract] |
Schedule of 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 2019, 2018 and 2017 were $13.94, $13.04 and $16.78, respectively, using the following assumptions:
|  | 2019 |  | 2018 |  | 2017
Expected term (in years) |  | 5.53 |  |  | 6.34 |  |  | 6.00 |
Expected volatility |  | 23.36 | % |  | 25.27 | % |  | 22.58 | %
Expected dividend yield |  | 1.10 | % |  | 1.35 | % |  | 0.82 | %
Risk-free interest rate |  | 1.80 | % |  | 2.75 | % |  | 2.29 | %
Schedule of Stock-based Compensation Expense | The Company recognized stock-based compensation expense in its Consolidated Financial Statements in 2019, 2018 and 2017 as follows:
|  | 2019 |  | 2018 |  | 2017
Stock-based compensation expense |  | $ | 24,582 |  |  | $ | 23,805 |  |  | $ | 36,366 |
Less: Deferred tax benefit |  | (4,814 | ) |  | (5,078 | ) |  | (7,891 | )
Stock-based compensation expense, net of tax |  | $ | 19,768 |  |  | $ | 18,727 |  |  | $ | 28,475 |
Schedule of Stock Option Plans | This table presents certain information relating to the Company’s stock option plans for 2019, 2018 and 2017:
|  | Number of Shares |  | Weighted Average Price
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 |
Granted |  | 2,480,000 |  |  | 64.04 |
Exercised |  | (2,243,000 | ) |  | 25.27 |
Expired or canceled |  | (344,000 | ) |  | 55.07 |
Balance as of December 31, 2019 |  | 15,706,000 |  |  | $ | 47.43 |
Exercisable as of December 31, 2019 |  | 8,214,000 |  |  | $ | 37.34 |
Available for future grant as of December 31, 2019 |  | 19,639,000 |  |  |
Schedule of Stock Options Outstanding and Exercisable | This table summarizes information relating to all options outstanding and exercisable at December 31, 2019:
|  |  | Options Outstanding at December 31, 2019 |  | Options Exercisable at December 31, 2019
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 |  | 843,000 |  |  | $ | 15.79 |  |  | 2.00 |  | 843,000 |  |  | $ | 15.79 |  |  | 2.00
22.45 |  | - | 23.86 |  | 1,869,000 |  |  | 23.04 |  |  | 2.16 |  | 1,869,000 |  |  | 23.04 |  |  | 2.16
27.03 |  | - | 40.64 |  | 2,945,000 |  |  | 37.24 |  |  | 4.57 |  | 2,072,000 |  |  | 35.81 |  |  | 4.39
45.99 |  | - | 53.16 |  | 4,062,000 |  |  | 49.01 |  |  | 8.09 |  | 1,855,000 |  |  | 49.62 |  |  | 7.00
53.34 |  | - | 71.12 |  | 5,987,000 |  |  | 63.43 |  |  | 8.36 |  | 1,575,000 |  |  | 53.40 |  |  | 6.07
|  |  | 15,706,000 |  |  |  |  |  |  | 8,214,000 |  |  |  |  |
Schedule of Common Stock Buyback | The following table provides the total number of shares repurchased and the related total costs in 2019, 2018 and 2017:
Year |  | Total Number of Shares Repurchased |  | Total Cost
2019 |  | 6,225,000 |  |  | $ | 348,348 |
2018 |  | 6,744,000 |  |  | 404,759 |
2017 |  | 4,403,000 |  |  | 248,114 |

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