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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of assumptions used in weighted-average fair value of options granted
The weighted-average fair value of options granted in the years ended December 31, 2017, 2016 and 2015 was $9.07, $7.70 and $15.15, respectively, based on the following assumptions:
 
Year Ended December 31,
 
2017
 
2016(a)
 
2015
Volatility
24% to 25%
 
26%
 
25% to 34%
Risk-free rate
1.7% to 1.8%
 
1.2%
 
0.7% to 1.9%
Expected term (Years)
5
 
5
 
2 to 7
Dividend Yield
0%
 
0%
 
0%

________________________________________
(a)
In the year ended December 31, 2016, all stock options granted had uniform terms and were awarded on the same grant date.
Summary of stock option activity
A summary of stock option activity is presented below:
 
Shares
(in thousands)
 
Weighted-
Average
Exercise
Price
 
Weighted-
Average
Remaining
Contractual
Term (Years)
 
Aggregate
Intrinsic
Value
(in millions)
Outstanding at December 31, 2016
1,526

 
$
37.42

 
 
 
 
Granted
558

 
37.59

 
 
 
 
Exercises
(136
)
 
34.80

 
 
 
 
Forfeitures
(278
)
 
40.38

 
 
 
 
Outstanding at December 31, 2017
1,670

 
$
37.20

 
6.9
 
$
15.0

Vested and exercisable at December 31, 2017
949

 
$
36.23

 
5.7
 
$
9.4
Schedule of options outstanding by exercise prices
The following table summarizes information about options outstanding as of December 31, 2017:
 
 
 
Options Outstanding
 
Options Exercisable
Range of
Exercise Prices
Shares (in thousands)
 
Weighted-Average
Remaining Contractual
Term (Years)
 
Shares (in thousands)
 
Weighted-Average Exercise Price
$25.00
to
$35.00
530

 
6.3
 
380

 
$
30.29

$35.00
to
$45.00
724

 
7.5
 
366

 
37.24

$45.00+
416

 
6.6
 
203

 
45.53

 
 
 
1,670

 
6.9
 
949

 
$
36.23
Summary of restricted share unit activity
A summary of restricted share unit activity is presented below:
 
Shares
(in thousands)
 
Weighted Average
Fair Value
Outstanding at December 31, 2016
528

 
$
39.12

Granted
123

 
38.16

Vested
(166
)
 
37.99

Forfeited
(56
)
 
40.51

Outstanding at December 31, 2017
429

 
$
39.10
Summary of total shareholders return unit activity
A summary of TSR unit activity is presented below.
 
Shares
(in thousands)
 
Weighted Average
Fair Value
Outstanding at December 31, 2016
224

 
$
38.60

Granted
231

 
42.24

Forfeited
(57
)
 
42.02

Outstanding at December 31, 2017
398

 
$
40.22