STOCK-BASED COMPENSATION (Tables)
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12 Months Ended |
Dec. 31, 2015 |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] |
The following is an analysis of options to purchase shares of class A common stock issued and outstanding:
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Shares
(in thousands)
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Weighted Average
Exercise
Price
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Weighted Average Remaining
Contractual Term
(in years)
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|
Aggregate Intrinsic
Value (in millions)
|
Outstanding at January 1, 2015 |
3,691 |
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|
$ |
75.07 |
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Exercised |
(1,060 |
) |
|
73.25 |
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Granted |
160 |
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|
101.93 |
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Forfeited / Expired |
(20 |
) |
|
72.47 |
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Outstanding at December 31, 2015 |
2,771 |
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|
$ |
77.33 |
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|
2.94 |
|
$ |
53 |
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Options Vested and Expected to Vest |
2,771 |
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|
$ |
77.33 |
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|
2.94 |
|
$ |
53 |
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Exercisable at December 31, 2015 |
2,451 |
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|
$ |
75.31 |
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|
2.27 |
|
$ |
51 |
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| Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] |
As of December 31, 2015, we had the following Restricted Units outstanding, including reinvested dividends, that were granted under our Management Incentive Award program, Coyote Restricted Stock Award and Long-Term Incentive Performance Award program (granted prior to 2014):
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Shares
(in thousands)
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Weighted Average
Grant Date
Fair Value
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Weighted Average Remaining
Contractual Term
(in years)
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Aggregate Intrinsic
Value (in millions)
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Nonvested at January 1, 2015 |
11,559 |
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$ |
82.58 |
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Vested |
(5,867 |
) |
|
80.27 |
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Granted |
5,118 |
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|
100.63 |
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Reinvested Dividends |
359 |
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|
N/A |
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Forfeited / Expired |
(157 |
) |
|
90.23 |
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Nonvested at December 31, 2015 |
11,012 |
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$ |
90.71 |
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|
1.37 |
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$ |
1,060 |
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Restricted Units Expected to Vest |
10,783 |
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$ |
90.77 |
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|
1.36 |
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$ |
1,038 |
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| Share-based Compensation, Performance Shares Award Outstanding Activity [Table Text Block] |
As of December 31, 2015, we had the following Restricted Units outstanding, including reinvested dividends, that were granted under our Long-Term Incentive Performance Award program (granted after 2013):
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Shares
(in thousands)
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Weighted
Average
Grant Date
Fair Value
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Weighted Average Remaining
Contractual Term
(in years)
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Aggregate Intrinsic
Value (in millions)
|
Nonvested at January 1, 2015 |
815 |
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$ |
96.98 |
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Vested |
(57 |
) |
|
96.90 |
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Granted |
912 |
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|
96.64 |
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Reinvested Dividends |
43 |
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N/A |
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Forfeited / Expired |
(98 |
) |
|
96.81 |
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Nonvested at December 31, 2015 |
1,615 |
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$ |
96.80 |
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|
1.62 |
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$ |
155 |
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Performance Units Expected to Vest |
1,547 |
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$ |
96.80 |
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|
1.62 |
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$ |
149 |
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| Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] |
The following table summarizes information about stock options outstanding and exercisable at December 31, 2015:
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Options Outstanding |
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Options Exercisable |
Exercise Price Range |
Shares
(in thousands)
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Average Life
(in years)
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Average
Exercise
Price
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Shares
(in thousands)
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Average
Exercise
Price
|
$55.01 - $70.00 |
218 |
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|
3.94 |
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$ |
62.48 |
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|
218 |
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$ |
62.48 |
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$70.01 - $80.00 |
1,320 |
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|
2.53 |
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72.14 |
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|
1,266 |
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|
71.96 |
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$80.01 - $90.00 |
947 |
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1.52 |
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81.23 |
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|
884 |
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81.11 |
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$90.01 - $105.00 |
286 |
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|
8.74 |
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99.75 |
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|
83 |
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98.36 |
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2,771 |
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2.94 |
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$ |
77.33 |
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|
2,451 |
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$ |
75.31 |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
The fair value of each option grant is estimated using the Black-Scholes option pricing model. The weighted average assumptions used, by year, and the calculated weighted average fair values of options, are as follows:
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2015 |
|
2014 |
|
2013 |
Expected dividend yield |
2.63 |
% |
|
2.56 |
% |
|
2.75 |
% |
Risk-free interest rate |
2.07 |
% |
|
2.40 |
% |
|
1.38 |
% |
Expected life in years |
7.5 |
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|
7.5 |
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|
7.5 |
|
Expected volatility |
20.61 |
% |
|
24.26 |
% |
|
24.85 |
% |
Weighted average fair value of options granted |
$ |
18.07 |
|
|
$ |
20.48 |
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$ |
15.50 |
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