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9. Share-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2013
Share-based Compensation [Abstract] |
Stock Options Activity | Stock Options The following table summarizes stock option activity:
|  | Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in millions)
Outstanding, January 1, 2011 |  | 1,057,819 |  |  | $ | 57.12 |  |  |  |  |
Granted |  | 58,500 |  |  | $ | 99.49 |  |  |  |  |
Exercised |  | (220,372 | ) |  | $ | 42.44 |  |  |  |  |
Forfeited/expired |  | (7,197 | ) |  | $ | 62.98 |  |  |  |  |
Outstanding, December 31, 2011 |  | 888,750 |  |  | $ | 63.50 |  |  |  |  |
Granted |  | 55,250 |  |  | $ | 107.32 |  |  |  |  |
Exercised |  | (181,707 | ) |  | $ | 44.66 |  |  |  |  |
Forfeited/expired |  | (15,000 | ) |  | $ | 87.78 |  |  |  |  |
Outstanding, December 31, 2012 |  | 747,293 |  |  | $ | 70.83 |  |  |  |  |
Granted |  | 55,050 |  |  | $ | 117.67 |  |  |  |  |
Exercised |  | (159,450 | ) |  | $ | 54.16 |  |  |  |  |
Forfeited/expired |  | (13,250 | ) |  | $ | 91.32 |  |  |  |  |
Outstanding, December 31, 2013 |  | 629,643 |  |  | $ | 78.72 |  |  | 4.53 |  | $ | 28.3 |
Vested and expected to vest, |  |  |  |  |  |  |  |
December 31, 2013 |  | 612,946 |  |  | $ | 77.91 |  |  | 4.41 |  | $ | 28.0 |
Exercisable, December 31, 2013 |  | 472,193 |  |  | $ | 70.14 |  |  | 3.23 |  | $ | 25.2 |
Stock Options Outstanding | The following summarizes information about stock options outstanding at December 31, 2013:
|  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices |  | Number Outstanding |  | Weighted-Average Remaining Contractual Term (in years) |  | Weighted -Average Exercise Price |  | Number Exercisable |  | Weighted - Average Exercise Price
$ 53.75 - $ 62.47 |  | 191,930 |  |  | 1.41 |  | $ | 58.40 |  |  | 191,930 |  |  | $ | 58.40 |
$ 63.00 - $ 75.38 |  | 178,413 |  |  | 3.53 |  | $ | 69.87 |  |  | 168,313 |  |  | $ | 69.56 |
$ 84.57 - $107.32 |  | 204,250 |  |  | 6.93 |  | $ | 95.03 |  |  | 111,950 |  |  | $ | 91.11 |
$117.00 - $122.36 |  | 55,050 |  |  | 9.71 |  | $ | 117.67 |  |  | — |  |  | $ | — |
Totals |  | 629,643 |  |  |  |  |  |  | 472,193 |  |  |
Stock Options Valuation Assumptions | The weighted-average fair value of stock options granted was estimated using a Black-Scholes option-pricing model with the following weighted-average assumptions:
|  | Year Ended December 31,
|  | 2013 |  | 2012 |  | 2011
Expected volatility |  | 28 | % |  | 30 | % |  | 32 | %
Risk-free interest rate |  | 2.65 | % |  | 1.53 | % |  | 1.71 | %
Expected life (in years) |  | 8.9 |  |  | 9.0 |  |  | 8.6 |
Expected dividend |  | — |  |  | — |  |  | — |
Weighted-average fair value of options granted |  | $ | 47.25 |  |  | $ | 41.82 |  |  | $ | 40.81 |
Resticted Stock Activity | The following table summarizes restricted stock activity:
|  | Year Ended December 31,
|  | 2013 |  | 2012 |  | 2011
|  | Restricted Stock Shares |  | Weighted- Average Grant-Date Fair Value |  | Restricted Stock Shares |  | Weighted- Average Grant-Date Fair Value |  | Restricted Stock Shares |  | Weighted- Average Grant-Date Fair Value
Nonvested shares, at |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
beginning of year |  | 12,957 |  |  | $ | 88.09 |  |  | 39,629 |  |  | $ | 84.07 |  |  | 68,893 |  |  | $ | 83.21 |
Vested |  | (12,610 | ) |  | $ | 88.09 |  |  | (25,124 | ) |  | $ | 81.98 |  |  | (26,179 | ) |  | $ | 81.98 |
Cancelled/forfeited |  | (347 | ) |  | $ | 88.00 |  |  | (1,548 | ) |  | $ | 84.20 |  |  | (3,085 | ) |  | $ | 82.63 |
Nonvested shares, at |  |  |  |  |  |  |  |  |  |  |  |  |
end of year |  | — |  |  | $ | — |  |  | 12,957 |  |  | $ | 88.09 |  |  | 39,629 |  |  | $ | 84.07 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | The following table summarizes restricted stock unit activity:
|  | Restricted Stock Units |  | Weighted- Average Grant-Date Fair Value |  | Weighted-Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value as of December 31, 2013 (in millions)
Outstanding, January 1, 2011 |  | 242,222 |  |  | $ | 80.61 |  |  |  |  |
Granted |  | 127,920 |  |  | $ | 98.25 |  |  |  |  |
Vested |  | (54,350 | ) |  | $ | 79.67 |  |  |  |  |
Forfeited |  | (16,430 | ) |  | $ | 80.70 |  |  |  |  |
Outstanding, December 31, 2011 |  | 299,362 |  |  | $ | 88.31 |  |  |  |  |
Granted |  | 138,840 |  |  | $ | 107.32 |  |  |  |  |
Vested |  | (75,466 | ) |  | $ | 85.52 |  |  |  |  |
Forfeited |  | (14,235 | ) |  | $ | 89.31 |  |  |  |  |
Outstanding, December 31, 2012 |  | 348,501 |  |  | $ | 96.45 |  |  |  |  |
Granted |  | 144,445 |  |  | $ | 117.09 |  |  |  |  |
Vested |  | (92,273 | ) |  | $ | 92.26 |  |  |  |  |
Forfeited |  | (25,243 | ) |  | $ | 96.08 |  |  |  |  |
Outstanding, December 31, 2013 |  | 375,430 |  |  | $ | 105.44 |  |  | 2.13 |  | $ | 46.4 |
Employee Stock Purchase Plan, Valuation Assumptions | The fair value of the employees’ purchase rights under the 2011 ESPP and the 1988 ESPP was estimated using a Black-Scholes model with the following weighted-average assumptions:
| Year Ended December 31,
| 2013 |  |  |  | 2012 |  |  |  | 2011
Expected volatility | 19 | % |  |  |  | 27 | % |  |  |  | 20 | %
Risk-free interest rate | 0.05 | % |  |  |  | 0.07 | % |  |  |  | 0.06 | %
Expected life (in years) | 0.25 |  |  |  |  | 0.25 |  |  |  |  | 0.25 |
Expected dividend | — |  |  |  |  | — |  |  |  |  | — |
Weighted-average fair value |  |  |  |  |  |  |  |  |
of purchase rights | $ | 21.76 |  |  |  |  | $ | 20.70 |  |  |  |  | $ | 20.35 |

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