v2.4.0.8
Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2013
Share-Based Compensation [Abstract]  
Schedule of Weighted-Average Assumptions Used to Determine the Weighted-Average Fair Values

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30,

 

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

Weighted-average risk free interest rate

 

 

0.45% 

 

 

0.34% 

Expected volatility(1)

 

 

31.4% 

 

 

32.9% 

Weighted-average fair value at grant date

 

$

43.81 

 

$

22.50 

 

Summary of Share-Based Compensation Expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

2013

 

2012

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in millions)

Share-based compensation expense before income taxes

 

$

14 

 

$

12 

 

$

32 

 

$

34 

Income tax benefit

 

 

(6)

 

 

(5)

 

 

(13)

 

 

(14)

Share-based compensation expense after income taxes

 

$

 

$

 

$

19 

 

$

20 

 

Summary of Stock Option Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of Stock Options(1)

 

Weighted-Average Exercise Price

 

Weighted-Average Remaining Contractual Term

 

Aggregate Intrinsic Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in years)

 

(in millions)

Outstanding at January 1, 2013

 

 

7,545,777 

 

$

21.10 

 

 

5.0 

 

$

45 

Exercised

 

 

1,730,647 

 

 

10.25 

 

 

 

 

 

 

Forfeited or expired

 

 

161,492 

 

 

25.15 

 

 

 

 

 

 

Outstanding at September 30, 2013

 

 

5,653,638 

 

$

24.29 

 

 

4.9 

 

$

50 

Exercisable at September 30, 2013

 

 

3,765,289 

 

$

25.06 

 

 

4.0 

 

$

32 

 

(1)  No stock option awards were granted during the three and nine months ended September 30, 2013.

Summary of Restricted Stock And PSU Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted Stock

 

PSUs

 

 

Number of Awards

 

Weighted-Average Grant Date Fair Value

 

Number of Awards

 

Weighted-Average Grant Date Fair Value

Unvested balances at January 1, 2013

 

 

3,204,188 

 

$

23.20 

 

 

1,879,799 

 

$

23.14 

Granted

 

 

1,179,692 

(1)

 

32.69 

 

 

828,453 

(2)

 

39.68 

Vested

 

 

(246,246)

 

 

23.70 

 

 

(89,368)

 

 

19.77 

Forfeited

 

 

(232,753)

 

 

24.00 

 

 

(115,788)

 

 

22.59 

Unvested balances at September 30, 2013

 

 

3,904,881 

 

$

25.96 

 

 

2,503,096 

 

$

28.76