|
Stock Compensation Plans (Tables)
|
12 Months Ended |
|
Dec. 31, 2011
|
| Stock Compensation Plans |
|
| Stock-based compensation expense recognized in continuing operations |
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Years ended December 31
|
|
2011
|
|
2010
|
|
2009
|
|
| |
|
|
Restricted Stock Units ("RSUs") |
|
$ |
142 |
|
$ |
138 |
|
$ |
124 |
|
|
Performance Share Awards ("PSAs") |
|
|
78 |
|
|
62 |
|
|
60 |
|
|
Stock options |
|
|
9 |
|
|
17 |
|
|
21 |
|
|
Employee stock purchase plans |
|
|
6 |
|
|
4 |
|
|
4 |
|
| |
|
|
|
|
Total stock-based compensation expense |
|
|
235 |
|
|
221 |
|
|
209 |
|
|
Tax benefit |
|
|
77 |
|
|
75 |
|
|
68 |
|
| |
|
|
|
|
Stock-based compensation expense, net of tax |
|
$ |
158 |
|
$ |
146 |
|
$ |
141 |
|
| |
|
|
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| Non-vested stock awards |
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2011 |
|
2010 |
|
2009 |
|
Years ended December 31
|
|
Shares
|
|
Fair
Value (1)
|
|
Shares
|
|
Fair
Value (1)
|
|
Shares
|
|
Fair
Value (1)
|
|
| |
|
|
Non-vested at beginning of year |
|
|
10,674 |
|
$ |
38 |
|
|
12,850 |
|
$ |
36 |
|
|
14,060 |
|
$ |
35 |
|
|
Granted |
|
|
3,506 |
|
|
51 |
|
|
3,817 |
|
|
40 |
|
|
3,786 |
|
|
38 |
|
|
Vested |
|
|
(3,773 |
) |
|
39 |
|
|
(5,278 |
) |
|
35 |
|
|
(4,330 |
) |
|
33 |
|
|
Forfeited |
|
|
(491 |
) |
|
39 |
|
|
(715 |
) |
|
35 |
|
|
(666 |
) |
|
37 |
|
| |
|
|
|
|
Non-vested at end of year |
|
|
9,916 |
|
|
42 |
|
|
10,674 |
|
|
38 |
|
|
12,850 |
|
|
36 |
|
| |
|
- (1)
- Represents per share weighted average fair value of award at date of grant.
|
|
| Performance-based plans |
|
|
|
|
|
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|
|
|
|
|
|
|
2011
|
|
2010
|
|
2009
|
|
| |
|
|
Target PSUs granted |
|
|
1,715 |
|
|
1,390 |
|
|
3,754 |
|
|
Fair Value (1) |
|
$ |
50 |
|
$ |
39 |
|
$ |
38 |
|
|
Number of shares that would be issued based on current performance levels |
|
|
1,772 |
|
|
1,397 |
|
|
2,300 |
|
|
Unamortized expense, based on current performance levels |
|
$ |
60 |
|
$ |
18 |
|
$ |
4 |
|
| |
|
- (1)
- Represents per share weighted average fair value of award at date of grant.
|
|
| Weighted average assumptions, average expected life and estimated fair value of employee stock options |
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|
Years ended December 31
|
|
2011
|
|
2010
|
|
2009
|
|
| |
|
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|
All Other
Options
|
|
All Other
Options
|
|
LPP
Options
|
|
SSP
Options
|
|
All Other
Options
|
|
| |
|
|
Weighted average volatility |
|
|
26.1 |
% |
|
28.5 |
% |
|
35.5 |
% |
|
34.1 |
% |
|
32.0 |
% |
|
Expected dividend yield |
|
|
1.3 |
% |
|
1.6 |
% |
|
1.3 |
% |
|
1.5 |
% |
|
1.5 |
% |
|
Risk-free rate |
|
|
2.2 |
% |
|
3.0 |
% |
|
1.5 |
% |
|
2.0 |
% |
|
2.6 |
% |
| |
|
|
Weighted average expected life, in years |
|
|
5.5 |
|
|
6.1 |
|
|
4.4 |
|
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5.6 |
|
|
6.5 |
|
|
Weighted average estimated fair value per share |
|
$ |
10.92 |
|
$ |
10.37 |
|
$ |
12.19 |
|
$ |
11.82 |
|
$ |
12.34 |
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| |
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| Stock options and related information |
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Years ended December 31
|
|
2011
|
|
2010
|
|
2009
|
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| |
|
|
|
Shares
|
|
Weighted-
Average
Exercise
Price Per
Share
|
|
Shares
|
|
Weighted-
Average
Exercise
Price Per
Share
|
|
Shares
|
|
Weighted-
Average
Exercise
Price Per
Share
|
|
| |
|
|
Beginning outstanding |
|
|
13,919 |
|
$ |
32 |
|
|
15,937 |
|
$ |
33 |
|
|
19,666 |
|
$ |
31 |
|
|
Options issued in connection with the Hewitt acquisition |
|
|
— |
|
|
— |
|
|
4,545 |
|
|
22 |
|
|
— |
|
|
— |
|
|
Granted |
|
|
80 |
|
|
53 |
|
|
143 |
|
|
38 |
|
|
1,551 |
|
|
38 |
|
|
Exercised |
|
|
(4,546 |
) |
|
32 |
|
|
(6,197 |
) |
|
27 |
|
|
(4,475 |
) |
|
27 |
|
|
Forfeited and expired |
|
|
(337 |
) |
|
36 |
|
|
(509 |
) |
|
35 |
|
|
(805 |
) |
|
38 |
|
| |
|
|
Outstanding at end of year |
|
|
9,116 |
|
|
32 |
|
|
13,919 |
|
|
32 |
|
|
15,937 |
|
|
33 |
|
| |
|
|
Exercisable at end of year |
|
|
7,833 |
|
|
30 |
|
|
11,293 |
|
|
30 |
|
|
9,884 |
|
|
31 |
|
| |
|
|
Shares available for grant |
|
|
24,508 |
|
|
|
|
|
22,777 |
|
|
|
|
|
8,257 |
|
|
|
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| |
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|
| Summary of options outstanding and exercisable |
|
A summary of options outstanding and exercisable as of December 31, 2011 is as follows (shares in thousands):
|
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|
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|
Options Outstanding |
|
Options Exercisable |
|
Range of Exercise Prices
|
|
Shares
Outstanding
|
|
Weighted-
Average
Remaining
Contractual
Life (years)
|
|
Weighted-
Average
Exercise Price
Per Share
|
|
Shares
Exercisable
|
|
Weighted-
Average
Remaining
Contractual
Life (years)
|
|
Weighted-
Average
Exercise Price
Per Share
|
|
| |
|
|
$14.71 – 22.86 |
|
|
2,718 |
|
|
2.66 |
|
$ |
20.95 |
|
|
2,718 |
|
|
2.66 |
|
$ |
20.95 |
|
|
22.87 – 25.51 |
|
|
663 |
|
|
3.40 |
|
|
25.37 |
|
|
663 |
|
|
3.40 |
|
|
25.37 |
|
|
25.52 – 32.53 |
|
|
1,069 |
|
|
2.95 |
|
|
27.53 |
|
|
1,069 |
|
|
2.95 |
|
|
27.53 |
|
|
32.54 – 36.88 |
|
|
1,277 |
|
|
2.96 |
|
|
36.05 |
|
|
1,037 |
|
|
2.41 |
|
|
35.96 |
|
|
36.89 – 43.44 |
|
|
2,309 |
|
|
3.04 |
|
|
39.72 |
|
|
1,757 |
|
|
2.35 |
|
|
39.92 |
|
|
43.45 – 52.93 |
|
|
1,080 |
|
|
4.49 |
|
|
46.24 |
|
|
589 |
|
|
4.09 |
|
|
45.52 |
|
| |
|
|
|
|
|
9,116 |
|
|
|
|
|
|
|
|
7,833 |
|
|
|
|
|
|
|
| |
|
|
|
| Other information related to the company's stock options |
|
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|
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|
2011
|
|
2010
|
|
2009
|
|
| |
|
|
Aggregate intrinsic value of stock options exercised |
|
$ |
80 |
|
$ |
87 |
|
$ |
62 |
|
|
Cash received from the exercise of stock options |
|
|
153 |
|
|
162 |
|
|
121 |
|
|
Tax benefit realized from the exercise of stock options |
|
|
14 |
|
|
4 |
|
|
15 |
|
| |
|
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|