Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.7.0.1
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2017
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 assumptions used and the calculated weighted-average fair values of the RTSR portion of the LTIP awards granted in 2017 and 2016 are as follows:
 
2017
 
2016
Risk-free interest rate
1.46
%
 
1.01
%
Expected volatility
16.59
%
 
16.45
%
Weighted-average fair value of units granted
$
119.29

 
$
135.57

Share payout
113.55
%
 
128.59
%
 
2017
 
2016
Expected dividend yield
2.89
%
 
2.94
%
Risk-free interest rate
2.15
%
 
1.66
%
Expected life (in years)
7.5

 
7.5

Expected volatility
17.81
%
 
23.60
%
Weighted-average fair value of options granted
$
14.70

 
$
17.32