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Common Stock (Tables) | 12 Months Ended
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Dec. 31, 2016
Equity [Abstract] |
Summary of Stock Options | The following summarizes options activity:
|  | Years Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | Number |  |  | Average |  |  | Number |  |  | Average |  |  | Number |  |  | Average |
|  | of |  |  | Exercise |  |  | of |  |  | Exercise |  |  | of |  |  | Exercise |
|  | Shares |  |  | Price |  |  | Shares |  |  | Price |  |  | Shares |  |  | Price |
Shares under option at beginning of year |  |  | 15,430,307 |  |  | $ | 59.50 |  |  |  | 10,881,133 |  |  | $ | 61.22 |  |  |  | 11,535,566 |  |  | $ | 58.36 |
Granted |  |  | 3,672,411 |  |  |  | 28.26 |  |  |  | 5,746,153 |  |  |  | 54.74 |  |  |  | 3,389,547 |  |  |  | 69.00 |
Spun-off |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,567,348 | ) |  |  | 70.56 |
Cancelled |  |  | (1,517,065 | ) |  |  | 49.95 |  |  |  | (886,356 | ) |  |  | 62.73 |  |  |  | (498,967 | ) |  |  | 70.32 |
Exercised |  |  | (146,593 | ) |  |  | 28.53 |  |  |  | (310,623 | ) |  |  | 22.56 |  |  |  | (1,977,665 | ) |  |  | 53.56 |
Shares under option at end of year |  |  | 17,439,060 |  |  | $ | 54.08 |  |  |  | 15,430,307 |  |  | $ | 59.50 |  |  |  | 10,881,133 |  |  | $ | 61.22 |
Exercisable at end of year |  |  | 9,828,897 |  |  | $ | 61.56 |  |  |  | 7,498,414 |  |  | $ | 60.30 |  |  |  | 5,903,712 |  |  | $ | 55.06 |
Summary of Stock Option Outstanding Information | The following summarizes information about stock options outstanding at December 31, 2016:
|  | Weighted-Avg |  |  | Options Outstanding |  |  | Options Exercisable |
|  | Remaining |  |  |  |  |  | Weighted-Avg |  |  |  |  |  | Weighted-Avg |
Range of Exercise Price |  | Contractual Life |  |  | Shares |  |  | Exercise Price |  |  | Shares |  |  | Exercise Price |
$12.15 - $55.00 |  |  | 7.56 |  |  |  | 10,108,458 |  |  | $ | 42.77 |  |  |  | 3,312,182 |  |  | $ | 45.43 |
$55.01 - $70.00 |  |  | 6.21 |  |  |  | 4,720,781 |  |  |  | 66.21 |  |  |  | 3,906,894 |  |  |  | 65.63 |
$70.01 - $77.99 |  |  | 4.66 |  |  |  | 2,609,821 |  |  |  | 75.95 |  |  |  | 2,609,821 |  |  |  | 75.95 |
Total |  |  | 6.76 |  |  |  | 17,439,060 |  |  | $ | 54.08 |  |  |  | 9,828,897 |  |  | $ | 61.56 |
Assumption Used in Determination of Fair Value of Share Based Payment Awards | The use of the Black Scholes model requires the use of actual employee exercise activity data and the use of a number of complex assumptions including expected volatility, risk-free interest rate, expected dividends and expected term.
|  | Years Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Valuation Assumptions: |  |  |  |  |  |  |  |  |  |  |  |
Expected volatility |  |  | 48.6 | % |  |  | 49.1 | % |  |  | 49.4 | %
Risk-free interest rate |  |  | 1.2 | % |  |  | 1.5 | % |  |  | 1.5 | %
Expected dividends |  | $ | 6.52 |  |  | $ | 3.36 |  |  | $ | 1.39 |
Expected term (in years) |  |  | 3.0 |  |  |  | 3.0 |  |  |  | 3.7 |
Summary of Information and Changes in Stock Options with Regard to Stock Option Plans | The following summary presents information regarding outstanding options at December 31, 2016 and changes during 2016 with regard to options under all stock option plans:
|  |  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  | Weighted- Average |  |  | Remaining Contractual |  |  |  |
|  | Shares |  |  | Exercise Price |  |  | Term (years) |  |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2015 |  |  | 15,430,307 |  |  | $ | 59.50 |  |  |  | 5.16 |  |  | $ | 5,894,977 |
Granted |  |  | 3,672,411 |  |  | $ | 28.26 |  |  |  |  |  |  |  |  |
Cancelled |  |  | (1,517,065 | ) |  | $ | 49.95 |  |  |  |  |  |  |  |  |
Exercised |  |  | (146,593 | ) |  | $ | 28.53 |  |  |  |  |  |  |  |  |
Outstanding at December 31, 2016 |  |  | 17,439,060 |  |  | $ | 54.08 |  |  |  | 6.76 |  |  | $ | 37,928,494 |
Vested or expected to vest |  |  | 17,212,352 |  |  | $ | 54.08 |  |  |  | 6.76 |  |  | $ | 37,408,874 |
Exercisable at December 31, 2016 |  |  | 9,828,897 |  |  | $ | 61.56 |  |  |  | 5.42 |  |  | $ | 6,700,856 |
Summary of Information Regarding Outstanding SARs | The following summary presents information regarding outstanding SARs at December 31, 2016 and changes during 2016 with regard to SARs:
|  | Year Ended December 31, |
|  | 2016 |
|  | Number |  |  | Average |
|  | of |  |  | Exercise |
|  | Shares |  |  | Price |
Shares under SARs at beginning of year |  |  | — |  |  | $ | — |
Granted |  |  | 4,618,400 |  |  |  | 28.32 |
Cancelled |  |  | (276,660 | ) |  |  | 28.24 |
Shares under SARs at end of year |  |  | 4,341,740 |  |  | $ | 28.32 |
Exercisable at end of year |  |  | — |  |  | $ | — |
Summary of Information Regarding Outstanding Restricted Shares | The following summary presents information regarding outstanding restricted shares:
|  | Years Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  |  |  |  | Weighted- |  |  |  |  |  | Weighted- |  |  |  |  |  | Weighted- |
|  | Number |  |  | Average |  |  | Number |  |  | Average |  |  | Number |  |  | Average |
|  | of |  |  | Grant Date |  |  | of |  |  | Grant Date |  |  | of |  |  | Grant Date |
|  | Units |  |  | Fair Value |  |  | Units |  |  | Fair Value |  |  | Units |  |  | Fair Value |
Nonvested at beginning of year |  |  | 1,969,250 |  |  | $ | 61.53 |  |  |  | 1,569,141 |  |  | $ | 73.73 |  |  |  | 1,643,193 |  |  | $ | 67.98 |
Granted |  |  | 3,384,325 |  |  |  | 31.59 |  |  |  | 954,075 |  |  |  | 53.27 |  |  |  | 708,821 |  |  |  | 70.14 |
Spin-off |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (319,949 | ) |  |  | 70.56 |
Vested |  |  | (565,202 | ) |  |  | 29.32 |  |  |  | (405,327 | ) |  |  | 54.30 |  |  |  | (348,981 | ) |  |  | 74.97 |
Cancelled |  |  | (224,390 | ) |  |  | 49.95 |  |  |  | (148,639 | ) |  |  | 62.73 |  |  |  | (113,943 | ) |  |  | 70.32 |
Nonvested at end of year |  |  | 4,563,983 |  |  | $ | 41.10 |  |  |  | 1,969,250 |  |  | $ | 61.53 |  |  |  | 1,569,141 |  |  | $ | 73.73 |

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