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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2017
Share-based Compensation [Abstract]  
Assumptions used for the grants
The following table illustrates the valuation assumptions used for the 2017, 2016 and 2015 grants:
 
2017
 
2016
 
2015
Expected volatility
25 - 26%
 
29 - 32%
 
32 - 36%
Weighted-average expected volatility
26%
 
32%
 
36%
Expected dividend yield
1.2 - 1.3%
 
1.3 - 1.5%
 
1.1 - 1.2%
Weighted-average expected dividend yield
1.3%
 
1.3%
 
1.2%
Expected term, in years
5
 
5
 
5
Risk-free interest rate
1.7 - 2.0%
 
1.1 - 1.4%
 
1.4 - 1.6%
Stock option activity
The following table summarizes the activity during the year ended December 31, 2017 for stock option awards:
 
Shares
 
Weighted-Average Exercise Price
Outstanding at beginning of year
1,113,382

 
$
42.34

Granted
224,985

 
72.85

Exercised
(159,792
)
 
44.04

Forfeited
(42,586
)
 
63.98

Expired
(381
)
 
65.12

Outstanding at end of year
1,135,608

 
$
47.47

Exercisable at end of year
766,583

 
$
39.15
Nonvested restricted share awards activity
The following table summarizes the activity during the year ended December 31, 2017 for nonvested restricted share awards:
 
Shares
 
Weighted-Average Grant Date Fair Value
Nonvested at beginning of year
117,234

 
$
47.62

Granted
20,284

 
73.06

Vested
(32,990
)
 
44.36

Forfeited
(4,739
)
 
63.43

Nonvested at end of year
99,789

 
$
53.11
Nonvested performance share awards activity
The following table summarizes the activity during the year ended December 31, 2017 for nonvested performance share awards:
 
Shares
 
Weighted-Average Grant Date Fair Value
Nonvested at beginning of year
129,096

 
$
59.30

Granted
45,792

 
72.84

Vested
(20,060
)
 
61.80

Forfeited
(31,804
)
 
62.55

Nonvested at end of year
123,024

 
$
63.09
Nonvested restricted stock units activity
The following table summarizes the activity during the year ended December 31, 2017 for nonvested restricted stock units:
 
Shares
 
Weighted-Average Grant Date Fair Value
Nonvested at beginning of year
31,038

 
$
60.47

Granted
30,750

 
68.92

Vested
(14,638
)
 
65.74

Forfeited
(4,025
)
 
60.82

Nonvested at end of year
43,125

 
$
64.67