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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Number of Common Shares Reserved for Issuance | The number of common shares reserved for issuance are as follows:
(in millions) | December 31,
| 2017 |  | 2016
Shares available for granting under the 2002 Plan | 33.8 |  | 33.5
Options outstanding | 2.1 |  | 3.8
Total shares reserved for issuance 1 | 35.9 |  | 37.3
1 | Shares reserved for issuance under the Director Deferred Stock Ownership Plan are not included in the total, but are less than 0.1 million.
Schedule of Stock-based Compensation Expense | Stock-based compensation expense and the corresponding tax benefit are as follows:
(in millions) | Year Ended December 31,
| 2017 |  | 2016 |  | 2015
Stock option expense | $ | 3 |  |  | $ | 7 |  |  | $ | 14 |
Restricted stock and unit awards expense | 96 |  |  | 69 |  |  | 64 |
Total stock-based compensation expense | $ | 99 |  |  | $ | 76 |  |  | $ | 78 |
Tax benefit | $ | 38 |  |  | $ | 29 |  |  | $ | 29 |
Schedule of Assumptions Used in Valuing the Options Granted | We use a lattice-based option-pricing model to estimate the fair value of options granted. The following assumptions were used in valuing the options granted:
| Year Ended
| December 31, 2015
Risk-free average interest rate | 0.2 - 1.9% |
Dividend yield | 1.4% |
Volatility | 21 - 39% |
Expected life (years) | 6.3 |
Weighted-average grant-date fair value per option | $ | 27.57 |
Schedule of 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, 2016 | 3.8 |  |  | $ | 43.36 |  |  |  |  |
Exercised | (1.7 | ) |  | $ | 113.04 |  |  |  |  |
Forfeited and expired 1 | — |  |  | $ | 72.35 |  |  |  |  |
Options outstanding as of December 31, 2017 | 2.1 |  |  | $ | 44.09 |  |  | 3.5 |  | $ | 270 |
Options exercisable as of December 31, 2017 | 2.1 |  |  | $ | 44.08 |  |  | 3.5 |  | $ | 270 |
1 There are less 0.1 million shares forfeited and expired.
(in millions, except per award amounts) | Shares |  | Weighted-average grant-date fair value
Nonvested options outstanding as of December 31, 2016 | 0.2 |  |  | $ | 23.42 |
Vested | (0.2 | ) |  | $ | 23.40 |
Forfeited 1 | — |  |  | $ | 24.22 |
Nonvested options outstanding as of December 31, 2017 | — |  |  | $ | 27.52 |
Total unrecognized compensation expense related to nonvested options 2 | $ | — |  |  |
Weighted-average years to be recognized over | 0.1 |  |  |
1 | There are less than 0.1 million shares forfeited.
2 | There is less than $1 million of unrecognized compensation expense related to nonvested options.
Schedule of Stock Option Exercises | Information regarding our stock option exercises is as follows:
(in millions) | Year Ended December 31,
| 2017 |  | 2016 |  | 2015
Net cash proceeds from the exercise of stock options | $ | 75 |  |  | $ | 88 |  |  | $ | 86 |
Total intrinsic value of stock option exercises | $ | 118 |  |  | $ | 95 |  |  | $ | 94 |
Income tax benefit realized from stock option exercises | $ | 64 |  |  | $ | 41 |  |  | $ | 49 |
Schedule of Restricted Stock and Unit Activity | Restricted 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, 2016 | 1.0 |  |  | $ | 106.31 |
Granted | 0.8 |  |  | $ | 147.12 |
Vested | (1.0 | ) |  | $ | 156.16 |
Forfeited 1 | — |  |  | $ | 107.96 |
Nonvested shares as of December 31, 2017 | 0.8 |  |  | $ | 124.91 |
Total unrecognized compensation expense related to nonvested awards | $ | 66 |  |  |
Weighted-average years to be recognized over | 1.6 |  |  |
1 | There are less than 0.1 million shares forfeited.
| Year Ended December 31,
| 2017 |  | 2016 |  | 2015
Weighted-average grant-date fair value per award | $ | 147.12 |  |  | $ | 93.01 |  |  | $ | 77.06 |
Total fair value of restricted stock and unit awards vested | $ | 147 |  |  | $ | 99 |  |  | $ | 155 |
Tax benefit relating to restricted stock activity | $ | 36 |  |  | $ | 26 |  |  | $ | 24 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + 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 (f)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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