Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.3.0.814
STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Fair Value of Employee Stock Options Granted and Determined by Black-Scholes Valuation Model Assumptions
The weighted average fair value of our employee stock options granted, as determined by the Black-Scholes valuation model, was $18.07 and $20.48 for 2015 and 2014, respectively, using the following assumptions:
 
2015
 
2014
Expected life (in years)
7.5

 
7.5

Risk-free interest rate
2.07
%
 
2.40
%
Expected volatility
20.61
%
 
24.26
%
Expected dividend yield
2.63
%
 
2.56
%