Note 10. Stock Plans

Stock Options:

Stock option activity is reflected below:


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

Balance at January 1, 2016		57,034,108		$	26.12		6 years	$	229 million

Annual grant to eligible employees		7,517,290			39.70
Additional options issued		97,680			43.32

Total options granted		7,614,970			39.75
Options exercised		(7,094,555	)		24.01			$	139 million
Options cancelled		(1,735,698	)		35.39

Balance at September 30, 2016		55,818,825			27.95		6 years	$	252 million

Deferred Stock Units, Performance Share Units and Restricted Stock: Historically we have made grants of deferred stock units, performance share units and restricted stock. Beginning in 2016, we only grant deferred stock units and performance share units and no longer grant restricted stock. Our deferred stock unit, performance share unit and restricted stock activity is reflected below:
						Weighted-Average		Weighted-Average
	Number of					Fair Value		Aggregate
	Shares			Grant Date		Per Share		Fair Value

Balance at January 1, 2016		9,418,216				$	28.00

Annual grant to eligible employees:					Feb. 22, 2016
Performance share units		1,406,500					39.70
Deferred stock units		1,040,790					39.70
Additional shares granted ⁽¹⁾		755,171			Various		29.51

Total shares granted		3,202,461					37.30	$	119 million
Vested ⁽²⁾		(3,903,681	)				40.13	$	157 million
Forfeited ⁽²⁾		(1,019,864	)				37.47

Balance at September 30, 2016		7,697,132					24.46

(1)

Includes performance share units and deferred stock units.

(2)

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

Share Repurchase Program:

During 2013, our Board of Directors authorized the repurchase of $7.7 billion of our Common Stock through December 31, 2016. On July 29, 2015, our Finance Committee, with authorization delegated from our Board of Directors, approved an increase of $6.0 billion in the share repurchase program, raising the authorization to $13.7 billion of Common Stock repurchases, and extended the program through December 31, 2018. Repurchases under the program are determined by management and are wholly discretionary. Prior to January 1, 2016, we had repurchased $8.2 billion of Common Stock pursuant to this authorization. During the nine months ended September 30, 2016, we repurchased 42.9 million shares of Common Stock at an average cost of $41.64 per share, or an aggregate cost of $1.8 billion, of which $1.7 billion was paid during the period. All share repurchases were funded through available cash and commercial paper issuances. As of September 30, 2016, we have $3.7 billion in remaining share repurchase capacity.