Stock Plans (Tables)

12 Months Ended

Dec. 31, 2015

Weighted-Average Black-Scholes Fair Value Assumptions

Our weighted-average Black-Scholes fair value assumptions were:


	Risk-Free Interest Rate		Expected Life		Expected Volatility		Expected Dividend Yield		Fair Value at Grant Date

2015		1.70%		6 years		18.51%		1.61%	$	6.12
2014		1.87%		6 years		21.48%		1.64%	$	6.60
2013		1.15%		6 years		20.36%		1.94%	$	4.31

Stock Options Activity

Stock option activity is reflected below:


				Weighted-
				Average		Average
	Shares Subject			Exercise or Grant Price		Remaining Contractual	Aggregate Intrinsic
	to Option			Per Share		Term	Value

Balance at January 1, 2013		52,753,039		$	20.45		$	264 million

Annual grant to eligible employees		11,644,280			27.05
Additional options issued		762,512			29.69

Total options granted		12,406,792			27.21
Options exercised ⁽¹⁾		(7,185,616	)		19.41		$	79 million
Options cancelled		(2,190,776	)		23.86

Balance at December 31, 2013		55,783,439			21.96		$	744 million

Annual grant to eligible employees		9,919,810			34.17
Additional options issued		500,250			33.65

Total options granted		10,420,060			34.14
Options exercised ⁽¹⁾		(8,076,550	)		20.85		$	125 million
Options cancelled		(1,695,398	)		27.65

Balance at December 31, 2014		56,431,551			24.19		$	685 million

Annual grant to eligible employees		8,899,530			36.94
Additional options issued		901,340			35.84

Total options granted		9,800,870			36.84
Options exercised ⁽¹⁾		(6,444,515	)		22.94		$	108 million
Options cancelled		(2,753,798	)		32.35

Balance at December 31, 2015		57,034,108			26.12	6 years	$	229 million

Exercisable at December 31, 2015		38,658,921			22.33	5 years	$	870 million

(1)

Cash received from options exercised was $148 million in 2015, $168 million in 2014 and $139 million in 2013. The actual tax benefit realized for the tax deductions from the option exercises totaled $58 million in 2015, $29 million in 2014 and $14 million in 2013.

Restricted stock, deferred stock unit and performance share unit

Restricted Stock, Deferred Stock Unit and Performance Share Unit Activity

Our restricted stock, deferred stock unit and performance share unit activity is reflected below:


					Weighted-Average		Weighted-Average
	Number				Fair Value		Aggregate
	of Shares			Grant Date	Per Share		Fair Value

Balance at January 1, 2013		12,815,911			$	21.55

Annual grant to eligible employees:				Feb. 20, 2013
Performance share units		1,542,600				26.24
Restricted stock		949,030				27.05
Deferred stock units		1,386,750				27.05
Additional shares granted ⁽¹⁾		1,353,057		Various		22.47

Total shares granted		5,231,437				25.63	$	134 million
Vested		(5,350,073	)			18.82	$	101 million
Forfeited		(1,048,688	)			23.23

Balance at December 31, 2013		11,648,587				24.48

Annual grant to eligible employees:				Feb. 19, 2014
Performance share units		1,143,620				34.97
Restricted stock		750,410				34.17
Deferred stock units		1,240,820				34.17
Additional shares granted ⁽¹⁾		935,463		Various		33.15

Total shares granted		4,070,313				34.16	$	139 million
Vested		(4,380,452	)			22.98	$	101 million
Forfeited		(755,808	)			28.14

Balance at December 31, 2014		10,582,640				28.56

Annual grant to eligible employees:				Feb. 18, 2015
Performance share units		1,598,290				36.94
Restricted stock		386,910				36.94
Deferred stock units		866,640				36.94
Additional shares granted ⁽¹⁾		1,087,322		Various		39.35

Total shares granted		3,939,162				37.61	$	148 million
Vested		(3,905,745	)			37.83	$	148 million
Forfeited		(1,197,841	)			32.51

Balance at December 31, 2015		9,418,216				28.00

(1)

Includes performance share units, restricted stock and deferred stock units.