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Stock Plans | 12 Months Ended
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Dec. 31, 2014
[DisclosureTextBlockAbstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 11 Stock Plans Stock Option and Award Programs Under the 2007 Incentive Compensation Plan and previously under the 1 998 Incentive Compensation Plan, awards may be granted to employees and other key individuals who perform services for the Company and its participating subsidiaries. These awards may be in the form of stock options, restricted stock awards or units (RSAs), portfolio grants (PGs) or other incentives, and similar awards designed to meet the requirements of non-U.S. jurisdiction s. For the Company’s Incentive Compensation Plans, ther e were a total of 35 million, 35 million and 36 million common shares unissued and available for grant as of December 31, 2014, 2013 and 2012, respectively, as autho rized by the Company’s Board of Directors and shareholders. The Company granted stock option awards to its Chief Executive Officer (CEO) in November 2007 and January 2008 that have performance-based and market-based conditions. These option awards are separately disclosed and are excluded from the information and tables presented in the following paragraphs. A summary of stock option and RSA activity as of December 31, 2014, and changes during the year is presented below:
|  |  | Stock Options |  | RSAs
(Shares in thousands) |  | Shares |  | Weighted-Average Exercise Price |  | Shares |  | Weighted-Average Grant Price
Outstanding as of December 31, 2013 |  | 18,615 |  | $ | 44.98 |  | 9,578 |  | $ | 51.88
Granted |  | 295 |  |  | 86.64 |  | 2,639 |  |  | 86.65
Exercised/vested |  | (5,893) |  |  | 48.05 |  | (3,427) |  |  | 47.25
Forfeited |  | (242) |  |  | 51.83 |  | (916) |  |  | 60.98
Expired |  | (46) |  |  | 47.84 |  | ― |  |  | ―
Outstanding as of December 31, 2014 |  | 12,729 |  |  | 44.39 |  | 7,874 |  | $ | 64.48
Options vested and expected to vest as of December 31, 2014 |  | 12,726 |  |  | 44.39 |  | ― |  |  | ―
Options exercisable as of December 31, 2014 |  | 11,628 |  | $ | 42.64 |  | ― |  |  | ―
The Company recognizes the cost of employee stock awards granted in exchange for employee services based on the grant-date fair value of the award, net of expected forfeitures. Those costs are recognized r atably over the vesting period. Stock O ptions Each stock option has an exercise price equal to the market price of the Company’s common stock on the date of grant and a contractual term of 10 years from the date of grant. Stock options generally vest 25 percent per year beginning with the first annive rsary of the grant date or at 100 percent on the third anniversary of the grant date. The weighted-average remaining contractual life and the aggregate intrinsic value (the amount by which the fair value of the Company’s stock exceeds the exercise p rice of the option) of the stock options outstanding, exercisable, and vested and expected to vest as of December 31, 2014 are as follows:
|  |  | Outstanding |  | Exercisable |  | Vested and Expected to Vest
Weighted-average remaining contractual life (in years) |  |  | 3.8 |  |  | 3.5 |  |  | 3.8
Aggregate intrinsic value (millions) |  | $ | 619 |  | $ | 586 |  | $ | 619
The intrinsic value for options exercised during 2014, 2013 and 2012 was $245 million, $374 million and $209 million, respectively (based upon the fair value of the Company’s stock price at the date of exercise). Cash received from the exercise of stock options in 2014, 2013 and 2012 was $283 million, $580 million and $368 million, respectively. The tax benefit realized from income tax deductions from stock option exercises, which was recorded in additional paid-in capital, in 2014, 2013 and 2012 was $54 million, $84 million and $45 million, respectiv ely. The fair value of each option is estimated on the date of grant using a Black-Scholes-Merton option-pricing model. The following weighted-average assumptions were used for grants issued in 2014, 2013 and 2012, the majority of which were gr anted in the beginning of each year:
|  | 2014 |  | 2013 |  | 2012 |
Dividend yield |  |  | 1.1 | % | 1.4 | % |  | 1.5 | %
Expected volatility(a) |  |  | 46 | % | 39 | % |  | 41 | %
Risk-free interest rate |  |  | 2.2 | % | 1.3 | % |  | 1.3 | %
Expected life of stock option (in years)(b) |  |  | 6.7 |  |  | 6.3 |  |  | 6.3 |
Weighted-average fair value per option |  | $ | 32.36 |  | $ | 21.11 |  | $ | 17.48 |
The expected volatility is based on both weighted historical and implied volatilities of the Company’s common stock price. In 2014, 2013 and 2012, the expected life of stock options was determined using both historical data and expectations of option exercise behavior. Stock Options with Performance-based and Market-based Conditions On November 30, 2007 and January 31, 2008, the Company’s CEO was granted in the aggregate 2,750,000 of non-qualified stock option awards with performance-based and m arket-based conditions. Both awards have a contractual term of 10 years and a vesting period of 6 years. The aggregate grant date fair value of options with performance-based conditions was approximately $33.8 million. Compensation expense for these a wards was not recognized as the performance metrics were not achieved, and therefore, these stock options were forfeited. No compensation expense for these awards was recorded in 2014, 2013 and 2012. The aggregate grant date fair value of option s with market-based conditions was approximately $10.5 million. Compensation expense for these awards was recognized ratably over the vesting period. In January 2014, following the completion of the performance period, the Compensation and Benefits Com mittee reviewed the Company’s performance and confirmed that the market-based condition was achieved, resulting in a vesting of these stock options (687,000 out of 2,750,000 options became exercisable). No compensation expense for these awards was recorded in 2014. Total compensation expense of approximately $0.3 million and $0.5 million was recorded in 2013 and 2012, respectively. Restricted Stock Awards RSAs are valued based on the stock price on the date of grant and generally vest 25 percent per year beginning with the firs t anniversary of the grant date or at 100 percent on the third anniversary of the grant date. RSA holders receive non-forfeitable dividends or dividend equivalents. The total fair value of shares vested duri ng 2014, 2013 and 2012 was $298 million, $336 million and $296 million, respectively (based upon the Company’s stock price at the vesting date). The weighted-average grant date fair value of RSAs granted in 2014, 2013 and 2012, is $86.65, $60.13 and $49.80, respectively. Liability-based Awards Certain employees are awarded PGs and other incentive awards that can be settled with cash or equity shares at the Company’s discretion and final Compensation and Benefits Committee payout approval. These awards earn value based on performance, market and service conditions and vest over periods of one to three years. PGs and other incentive awards are generally settled with cash and thus are classified as liabilities and, therefore, the fair value is determined at the date of grant and remeasured quarterl y as part of compensation expense over the vesting period. Cash paid upon vesting of these awards in 2014, 2013 and 2012 was $62 million, $43 million and $66 million, respectively. Summary of Stock Plan Expense The comp onents of the Company’s total stock-based compensation expense (net of forfeitures) for the years ended December 31 are as follows:
(Millions) |  | 2014 |  | 2013 |  | 2012
Restricted stock awards(a) |  | $ | 193 |  | $ | 208 |  | $ | 197
Stock options(a) |  |  | 13 |  |  | 23 |  |  | 29
Liability-based awards |  |  | 84 |  |  | 119 |  |  | 70
Performance/market-based stock options |  |  | ― |  |  | ― |  |  | 1
Total stock-based compensation expense (b) |  | $ | 290 |  | $ | 350 |  | $ | 297
As of December 31, 2014, the total unrecognized compensation cost related to unvested RSAs and options of $211 million and $6 million, respectively, will be recognized ratably over the weighted-average remaining vesting period of 1.3 years and 2.1 years, respectively. The total incom e tax benefit recognized in the Consolidated Statements of Income for stock-ba sed compensation arrangements for the years ended December 31, 2014, 2013 and 2012 was $104 million, $127 million and $107 million, respectively.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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