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Stock-based Compensation Expense (Tables) | 12 Months Ended
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Dec. 31, 2016
Share-based Compensation [Abstract] |
Fixed-Price Stock Options | The following table summarizes information about the Company’s fixed-price stock options as of and for the year ended December 31, 2016:
| Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2015 | 1,676,927 |  |  | $ | 50.76 |  |  | 6.1 |  | $ | 14,152 |
Granted | 141,661 |  |  | 56.56 |  |  |  |  |
Exercised | (212,343 | ) |  | 44.28 |  |  |  |  |
Forfeited | (64,001 | ) |  | 59.03 |  |  |  |  |
Outstanding at December 31, 2016 | 1,542,244 |  |  | $ | 51.85 |  |  | 5.5 |  | $ | 52,798 |
Exercisable at December 31, 2016 | 858,291 |  |  | $ | 45.63 |  |  | 3.7 |  | $ | 34,720 |
Weighted-Average Assumptions used to Estimate Fair Value of Each Option Granted | The fair value of each option granted during the years ended December 31, 2016, 2015 and 2014 was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
Dividend yield | 1.84 | % |  | 1.80 | % |  | 1.71 | %
Volatility | 33.08 | % |  | 32.92 | % |  | 33.03 | %
Average expected life (years) | 6 |  |  | 6 |  |  | 6 |
Risk-free interest rate | 1.96 | % |  | 2.17 | % |  | 2.94 | %
Fair value of options granted | $ | 16.06 |  |  | $ | 16.04 |  |  | $ | 19.56 |
Activity in Performance Unit Awards | The following table summarizes activity in performance unit awards as of and for the year ended December 31, 2016:
| Shares |  | Weighted-Average Grant Date Fair Value Per Share
Nonvested, beginning of period | 497,205 |  |  | $ | 62.04 |
Granted | 139,948 |  |  | 78.03 |
Vested | (80,970 | ) |  | 61.75 |
Forfeited | (61,492 | ) |  | 63.61 |
Nonvested, end of period | 494,691 |  |  | 66.42 |
Activity in Non-Performance Based Restricted Stock Awards | The following table summarizes activity in non-performance based restricted stock and restricted stock unit awards as of and for the year ended December 31, 2016:
| Shares |  | Weighted-Average Grant Date Fair Value Per Share
Nonvested, beginning of period | 118,121 |  |  | $ | 58.62 |
Granted | 156,662 |  |  | 56.43 |
Vested | (53,875 | ) |  | 57.34 |
Forfeited | (40,252 | ) |  | 54.65 |
Nonvested, end of period | 180,656 |  |  | 57.99 |

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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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