v2.4.0.8
Equity-Based Compensation Equity-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2013
Equity-based compensation  
Summary of RSU and RSA activity
A summary of the RSU and RSA activity for 2013 follows:
(Restricted stock units and awards in millions)
Number of restricted
stock units and awards
 
Weighted-average fair
value per unit and award
Non-vested at January 1
3.4

 
$
42.47

Granted
1.5

 
57.75

Vested
(1.3
)
 
37.71

Forfeited
(0.2
)
 
50.70

Non-vested at December 31
3.4

 
$
51.37
Pre-tax and after-tax expense for RSUs and RSAs [Table Text Block]
Information related to RSUs and RSAs follows:
 
2013
 
2012
 
2011
Pretax expense for RSUs and RSAs
$
69

 
$
46

 
$
50

After-tax expense for RSUs and RSAs
45

 
30

 
32
Assumptions used in determining fair value of stock options
A summary of the assumptions used in determining the fair value of stock options follows:
 
2013
 
2012
 
2011
Expected volatility
36
%
 
35
%
 
33
%
Expected option life in years
5.5


5.5

 
5.5

Expected dividend yield
2.0
%
 
2.0
%
 
2.0
%
Risk-free interest rate
1.5 to 0.8%

 
1.0 to 0.9%

 
2.2% to 1.4%

Weighted-average fair value of stock options granted
$
17.49

 
$
14.08

 
$
14.56
Summary of stock option activity
A summary of stock option activity follows:
(Options in millions)
Weighted-average
price per option
 
Options
 
Weighted-average
remaining
contractual life
in years
 
Aggregate
intrinsic
value
Outstanding at January 1, 2013
$
39.45

 
10.8

 
 
 
 
Granted
63.15

 
0.8

 
 
 
 
Exercised
35.76

 
(3.6
)
 
 
 
 
Forfeited and canceled
50.76

 
(0.1
)
 
 
 
 
Outstanding at December 31, 2013
$
43.43

 
7.9

 
4.4
 
$
259

 
 
 
 
 
 
 
 
Exercisable at December 31, 2013
$
40.05

 
6.4

 
3.4
 
$
232

Reserved for future grants at December 31, 2013
 
 
17.7

 
 
 
 
Information related to stock options
Information related to stock options follows:
 
2013
 
2012
 
2011
Pretax expense for stock options
$
11

 
$
7

 
$
5

After-tax expense for stock options
7

 
5

 
4

Proceeds from stock options exercised
121

 
95

 
71

Income tax benefit related to stock options exercised

 

 

Tax benefit classified in operating activities in the Consolidated
   Statements of Cash Flows
3

 
5

 
13

Excess tax benefit classified in financing activities in the
   Consolidated Statements of Cash Flows
22

 
13

 
33

Intrinsic value of stock options exercised
102

 
60

 
62

Total fair value of stock options vesting
$
11

 
$
7

 
$
5

 

 

 

Stock options exercised, in millions of options
3.565

 
3.099

 
2.541