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Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2017

Stock Options Plan [Member]

Assumptions Used to Determine Grant-Date Fair Value of Options

The following weighted average assumptions were used to determine the grant-date fair value of options:

		2017				2016				2015
Dividend yield			0.96	%			1.38	%			1.03	%
Expected life			5 years				5 years				5 years
Volatility			25.3	%			25.1	%			25.5	%
Risk free interest rate			1.50	%			0.91	%			1.05	%

Summary of Transactions of Company's Stock Option Plans

The following table summarizes the transactions of the Company’s stock option plans for the year ended December 31, 2017:

		Number of Options				Weighted Average Exercise Price				Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2016			570,994			$	20.38			$	21.68
Granted – at discount			79,664			$	0.00			$	61.39
– at market value			18,843			$	70.60			$	16.84
Exercised			(295,809	)		$	27.04			$	14.98
Forfeited			(16,026	)		$	13.18			$	25.93
Outstanding at December 31, 2017			357,666			$	13.74			$	35.69

Stock Equivalent Units [Member]

Assumptions Used to Determine Fair Value of SEUs

The following assumptions were used to determine the fair value of SEUs at the balance sheet dates:

		2017				2016				2015
Dividend yield			1.09	%			0.98	%			1.12	%
Volatility			25.4	%			25.2	%			24.6	%
Risk free interest rate			1.98	%			1.47	%			1.31	%

Summarizes Transactions of SEUs

The following table summarizes the transactions of the Company’s SEUs for the year ended December 31, 2017:

		Number of SEUs				Weighted Average Exercise Price				Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2016			279,815			$	3.77			$	33.40
Granted – at discount			180,249			$	0.00			$	62.76
– at market value			5,530			$	70.60			$	16.84
Exercised			(48,277	)		$	4.28			$	30.65
Forfeited			(16,975	)		$	0.00			$	34.81
Outstanding at December 31, 2017			400,342			$	3.10			$	46.65

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Tabular disclosure for share-based compensation 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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+ References

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-Publisher FASB
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