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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Number of common shares reserved for issuance | The number of common shares reserved for issuance are as follows:
(in millions) | December 31,
| 2012 |  | 2011
Shares available for granting under the 2002 Plan | 26.8 |  | 19.2
Options outstanding | 18.6 |  | 27.0
Total shares reserved for issuance 1 | 45.4 |  | 46.2
1 | Shares reserved for issuance under the Director Deferred Stock Ownership Plan are included in the total, but are less than 0.2 million.
Stock-Based Compensation | Stock-based compensation expense and the corresponding tax benefit are as follows:
(in millions) | Years ended December 31,
| 2012 |  | 2011 |  | 2010
Stock option expense | $ | 10 |  |  | $ | 19 |  |  | $ | 18 |
Restricted stock and unit awards expense | 83 |  |  | 58 |  |  | 33 |
Total stock-based compensation expense | $ | 93 |  |  | $ | 77 |  |  | $ | 51 |
Tax benefit | 36 |  |  | 29 |  |  | 20 |
Assumptions used in valuing the options granted | The following assumptions were used in valuing the options granted (in 2012, stock options were not granted as part of employees' total stock-based incentive awards):
|  |  | Years ended December 31,
|  |  | 2011 |  | 2010
Risk-free average interest rate |  |  | 0.2-3.5% |  |  | 0.3-4.2% |
Dividend yield |  |  | 2.5-3.0% |  |  | 2.9-3.1% |
Volatility |  |  | 21-51% |  |  | 28-60% |
Expected life (years) |  |  | 6.1-6.2 |  |  | 5.8-7.0 |
Weighted-average grant-date fair value per option |  |  | $ | 10.61 |  |  | $ | 10.02 |
Stock option activity | Stock option activity is as follows:
(in millions, except per award amounts) | Shares |  | Weighted average exercise price |  | Weighted-average remaining years of contractual term |  | Aggregate intrinsic value
Options outstanding as of December 31, 2011 | 27.0 |  |  | $ | 39.96 |  |  |  |  |
Granted 1 | 0.7 |  | 1 |  | — |  |  |  |  |
Exercised | (8.4 | ) |  | $ | 35.61 |  |  |  |  |
Canceled, forfeited and expired | (0.7 | ) |  | $ | 52.85 |  |  |  |  |
Options outstanding as of December 31, 2012 | 18.6 |  |  | $ | 39.58 |  |  | 4.1 |  | $ | 288 |
Options exercisable as of December 31, 2012 | 17.5 |  |  | $ | 39.71 |  |  | 3.8 |  | $ | 270 |
1 | These shares relate to the adjustment in connection with the special dividend announced in the fourth quarter of 2012 and, as such, a weighted average exercise price was not calculated.
(in millions, except per award amounts) | Shares |  | Weighted-average grant-date fair value
Nonvested options outstanding as of December 31, 2011 | 3.6 |  |  | $ | 10.41 |
Vested 1 | (2.4 | ) |  | $ | 10.34 |
Forfeited | (0.1 | ) |  | $ | 10.41 |
Nonvested options outstanding as of December 31, 2012 | 1.1 |  |  | $ | 10.61 |
Total unrecognized compensation expense related to nonvested options | $ | 1 |  |  |
Weighted-average years to be recognized over | 0.3 |  |  |
1 | The majority of the share adjustment that was recorded in connection with the special dividend announced in the fourth quarter of 2012 related to options that have previously vested, therefore, the shares granted were offset by the equivalent vested amount.
Stock option exercised | nformation regarding our stock option exercises is as follows:
(in millions) | Years ended December 31,
| 2012 |  | 2011 |  | 2010
Net cash proceeds from the exercise of stock options | $ | 299 |  |  | $ | 139 |  |  | $ | 50 |
Total intrinsic value of stock option exercises | $ | 120 |  |  | $ | 41 |  |  | $ | 16 |
Income tax benefit realized from stock option exercises | $ | 47 |  |  | $ | 16 |  |  | $ | 6 |
Restricted stock and unit activity | estricted stock and unit activity for performance and non-performance awards is as follows:
(in millions, except per award amounts) | Shares |  | Weighted-average grant-date fair value
Nonvested shares as of December 31, 2011 | 4.4 |  |  | $ | 36.78 |
Granted 1 | 1.7 |  |  | $ | 44.38 |
Vested | (2.5 | ) |  | $ | 35.24 |
Forfeited | (0.2 | ) |  | $ | 37.54 |
Nonvested shares as of December 31, 2012 | 3.4 |  |  | $ | 40.49 |
Total unrecognized compensation expense related to nonvested options | $ | 115 |  |  |
Weighted-average years to be recognized over | 1.7 |  |  |
1 | There are 0.2 million shares within the total amount granted during the year that relate to the adjustment in connection with the special dividend announced in the fourth quarter of 2012.
| Years ended December 31,
| 2012 |  | 2011 |  | 2010
Weighted-average grant-date fair value per award | $ | 44.38 |  |  | $ | 37.80 |  |  | $ | 33.72 |
Total fair value of restricted stock and unit awards vested | $ | 90 |  |  | $ | 1 |  |  | $ | 1 |
Tax benefit relating to restricted stock activity | $ | 32 |  |  | $ | 22 |  |  | $ | 13 |

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- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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