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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Recent Share-Based Compensation Expense
A summary of recent share-based compensation expense is as follows:
Period
 
Share-Based
Compensation
Expense
 
Tax Benefit
2012
 
$
25.4

 
$
9.6

2013
 
27.5

 
10.6

2014
 
29.3

 
11.3
Schedule of Transactions of the Company's Stock Options
The following table summarizes the transactions of the Company's stock options:
 
Stock Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life (years)
Unexercised options outstanding—January 1, 2014
3.0

 
$
77.71

 
 
Options granted
0.0

 
204.99

 
 
Options exercised
(0.7
)
 
60.47

 
 
Options forfeited
(0.0
)
 
81.50

 
 
Unexercised options outstanding—December 31, 2014
2.3

 
83.42

 
2.7
Exercisable at December 31, 2014
2.1

 
80.92

 
2.6
Schedule of Assumptions Used to Determine Fair Value of Options Granted
The fair value of options granted is estimated using the Black-Scholes option pricing model. The weighted average fair value of options granted during the years ended December 31, 2012, 2013 and 2014 was $40.43, $61.82 and $60.20 per option, respectively, based on the weighted-average grant date assumptions stated below.
 
For the Years Ended December 31,
 
2012
 
2013
 
2014
Dividend yield
0.0
%
 
0.0
%
 
0.0
%
Expected volatility(1)
36.8
%
 
34.4
%
 
29.7
%
Risk-free interest rate(2)
0.7
%
 
1.5
%
 
1.8
%
Expected life of options (in years)(3)
5.0

 
5.0

 
5.0

Forfeiture rate(3)
1.4
%
 
0.0
%
 
0.0
%
_______________________________________________________________________________

(1)
Based on historical and implied volatility.

(2)
Based on the U.S. Treasury yield curve in effect at the date of grant.

(3)
Based on the Company's historical data and expected exercise behavior.
Summary of Transactions of the Company's Restricted Stock
The following table summarizes the transactions of the Company's restricted stock:
 
Restricted
Stock
 
Weighted
Average
Grant Date
Value
Unvested units—January 1, 2014
0.5

 
$
176.38

Units granted
0.0

 
190.42

Units vested
(0.1
)
 
131.42

Units forfeited
(0.0
)
 
173.77

Unvested units—December 31, 2014
0.4

 
182.83