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Common Stock (Tables)

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Summary of Stock Options

The following summarizes options activity:

		Years Ended December 31,
		2018								2017								2016
		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			22,472,047			$	48.99				17,439,060			$	54.08				15,430,307			$	59.50
Granted			1,610,599				35.09				6,961,041				36.51				3,672,411				28.26
Forfeited			(1,318,380	)			57.56				(1,482,531	)			55.22				(1,517,065	)			49.95
Exercised			(1,754,758	)			44.12				(445,523	)			29.83				(146,593	)			28.53
Shares under option at end of year			21,009,508			$	48.88				22,472,047			$	48.99				17,439,060			$	54.08
Exercisable at end of year			15,223,029			$	54.13				14,309,944			$	55.00				9,828,897			$	61.56

Summary of Stock Option Outstanding Information

The following summarizes information about stock options outstanding at December 31, 2018:

		Weighted-Avg				Options Outstanding								Options Exercisable
		Remaining								Weighted-Avg								Weighted-Avg
Range of Exercise Price		Contractual Life				Shares				Exercise Price				Shares				Exercise Price
$23.94 - $55.00			6.81				15,179,485			$	40.68				9,393,006			$	44.14
$55.01 - $70.00			4.69				3,658,652				66.82				3,658,652				66.82
$70.01 - $77.99			2.69				2,171,371				75.95				2,171,371				75.95
Total			6.01				21,009,508			$	48.88				15,223,029			$	54.13

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,
Valuation Assumptions:		2018				2017				2016
Expected volatility			31.8	%			36.1	%			48.6	%
Risk-free interest rate			2.7	%			2.2	%			1.2	%
Expected dividend yield			0.6	%			0.6	%			6.5	%
Expected term (in years)			4.3				3.0				3.0

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, 2018 and changes during 2017 with regard to options under all stock option plans:

						Weighted- Average				Weighted Average Remaining Contractual				Aggregate
		Shares				Exercise Price				Term (years)				Intrinsic Value
Outstanding at December 31, 2017			22,472,047			$	48.99				6.66			$	34,186,368
Granted			1,610,599			$	35.09
Forfeited			(1,318,380	)		$	57.56
Exercised			(1,754,758	)		$	44.12
Outstanding at December 31, 2018			21,009,508			$	48.88				6.01			$	458,576
Exercisable at December 31, 2018			15,223,029			$	54.13				5.24			$	458,576

Summary of Information Regarding Outstanding SARs

The following summary presents information regarding outstanding SARs:

		Year Ended December 31,
		2018								2017
		Number				Average				Number				Average
		of				Exercise				of				Exercise
		Shares				Price				Shares				Price
Shares under SARs at beginning of year			1,493,689			$	28.41				4,341,740			$	28.32
Granted			14,228				35.09				14,400				38.86
Forfeited			(83,124	)			28.32				(283,822	)			28.35
Exercised			(25,491	)			42.61				(2,578,629	)			34.72
Shares under SARs at end of year			1,399,302			$	28.49				1,493,689			$	28.41
Exercisable at end of year			165,755			$	28.57				75,102			$	28.33

Summary of Information Regarding Outstanding Restricted Shares

The following summary presents information regarding outstanding restricted shares:

	Years Ended December 31,
	2018								2017								2016
					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		4,889,678			$	37.04				4,563,983			$	41.10				1,969,250			$	61.53
Granted		2,657,115				35.17				1,738,589				38.74				3,384,325				31.59
Vested		(1,242,682	)			34.86				(1,018,206	)			34.84				(565,202	)			29.32
Forfeited		(389,251	)			57.56				(394,688	)			55.22				(224,390	)			49.95
Nonvested at end of year		5,914,860			$	34.41				4,889,678			$	37.04				4,563,983			$	41.10

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

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