Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.3.1.900
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2015
Stock-based Compensation Tables  
Schedule of stock purchase right estimated on the date of grant using weighted average assumption

Based on the Black-Scholes option pricing model, the weighted average estimated fair value of each of the purchase rights granted under the ASPP was $2.36 for 2015.  For 2014 and 2013, the weighted average fair value purchase right granted was $2.12 and $2.21, respectively.  In calculating compensation, the fair value of each stock purchase right was estimated on the date of grant using the following weighted average assumptions:

 

    2015     2014     2013  
Dividend yield     0.8 %     0.3 %     — %
Expected volatility     19.0 %     21.5 %     32.0 %
Risk-free interest rate     0.1 %     0.1 %     0.1 %
Expected life (in years)     0.5       0.5       0.5