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9. Share-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2014
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, 2012 |  | 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 |  |  |  |  |
Granted |  | 54,000 |  |  | $ | 119.71 |  |  |  |  |
Exercised |  | (91,387 | ) |  | $ | 63.66 |  |  |  |  |
Forfeited/expired |  | (10,450 | ) |  | $ | 100.29 |  |  |  |  |
Outstanding, December 31, 2014 |  | 581,806 |  |  | $ | 84.50 |  |  | 4.40 |  | $ | 21.0 |
Vested and expected to vest, |  |  |  |  |  |  |  |
December 31, 2014 |  | 565,246 |  |  | $ | 83.61 |  |  | 4.28 |  | $ | 20.9 |
Exercisable, December 31, 2014 |  | 428,726 |  |  | $ | 74.62 |  |  | 2.96 |  | $ | 19.7 |
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,
|  | 2014 |  | 2013 |  | 2012
Expected volatility |  | 25 | % |  | 28 | % |  | 30 | %
Risk-free interest rate |  | 2.35 | % |  | 2.65 | % |  | 1.53 | %
Expected life (in years) |  | 8.7 |  |  | 8.9 |  |  | 9.0 |
Expected dividend |  | — |  |  | — |  |  | — |
Weighted-average fair value of options granted |  | $ | 43.96 |  |  | $ | 47.25 |  |  | $ | 41.82 |
Resticted Stock Activity | The following table summarizes restricted stock and restricted stock unit activity:
|  | Restricted Stock & Restricted Stock Units |  | Weighted- Average Grant-Date Fair Value |  | Weighted-Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in millions)
Outstanding, January 1, 2012 |  | 338,991 |  |  | $ | 87.81 |  |  |  |  |
Granted |  | 138,840 |  |  | $ | 107.32 |  |  |  |  |
Vested |  | (100,590 | ) |  | $ | 84.64 |  |  |  |  |
Forfeited |  | (15,783 | ) |  | $ | 88.81 |  |  |  |  |
Outstanding, December 31, 2012 |  | 361,458 |  |  | $ | 96.15 |  |  |  |  |
Granted |  | 144,445 |  |  | $ | 117.09 |  |  |  |  |
Vested |  | (104,883 | ) |  | $ | 91.76 |  |  |  |  |
Forfeited |  | (25,590 | ) |  | $ | 95.97 |  |  |  |  |
Outstanding, December 31, 2013 |  | 375,430 |  |  | $ | 105.44 |  |  |  |  |
Granted |  | 145,695 |  |  | $ | 119.56 |  |  |  |  |
Vested |  | (107,557 | ) |  | $ | 98.52 |  |  |  |  |
Forfeited |  | (36,203 | ) |  | $ | 108.17 |  |  |  |  |
Outstanding, December 31, 2014 |  | 377,365 |  |  | $ | 112.60 |  |  | 3.54 |  | $ | 45.5 |
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,
| 2014 |  |  |  | 2013 |  |  |  | 2012
Expected volatility | 15 | % |  |  |  | 19 | % |  |  |  | 27 | %
Risk-free interest rate | 0.04 | % |  |  |  | 0.05 | % |  |  |  | 0.07 | %
Expected life (in years) | 0.25 |  |  |  |  | 0.25 |  |  |  |  | 0.25 |
Expected dividend | — |  |  |  |  | — |  |  |  |  | — |
Weighted-average fair value |  |  |  |  |  |  |  |  |
of purchase rights | $ | 21.88 |  |  |  |  | $ | 21.76 |  |  |  |  | $ | 20.70 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (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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- 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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