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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Share-Based Compensation Expense
The following table shows the total share-based compensation expense resulting from equity awards and the 15.0% discount for the ESPP for the years ended December 31, 2016, 2015 and 2014 in the Consolidated Statements of Income:
 
Year Ended December 31,
 
2016
 
2015
 
2014
 
(in millions)
Share-based compensation expense before income taxes
$
86

 
$
68

 
$
62

Income tax benefit
(35
)
 
(28
)
 
(26
)
Share-based compensation expense after income taxes
$
51

 
$
40

 
$
36
Summary of Restricted Stock Activity
The following table summarizes our restricted stock activity for the years ended December 31, 2016, 2015 and 2014:
 
Restricted Stock
 
Number of Awards
 
Weighted-Average Grant Date Fair Value
Unvested balances at December 31, 2013
3,826,470

 
$
25.96

Granted
1,196,441

 
36.87

Vested
(1,529,792
)
 
23.29

Forfeited
(299,889
)
 
29.87

Unvested balances at December 31, 2014
3,193,230

 
$
30.99

Granted
823,950

 
49.26

Vested
(370,998
)
 
29.90

Forfeited
(302,444
)
 
34.34

Unvested balances at December 31, 2015
3,343,738

 
$
35.36

Granted
724,200

 
62.91

Vested
(1,238,980
)
 
27.91

Forfeited
(268,380
)
 
43.29

Unvested balances at December 31, 2016
2,560,578

 
$
45.92
Schedule of Weighted-Average Assumptions Used to Determine the Weighted-Average Fair Values
The following weighted-average assumptions were used to determine the weighted-average fair values of the PSU awards granted under the three-year PSU program for the years ended December 31, 2016 and December 31, 2015:
 
Year Ended December 31,
 
2016
 
2015
Weighted-average risk free interest rate(1)
0.84
%
 
0.81
%
Expected volatility(2)
21.0
%
 
21.5
%
Weighted-average grant date share price
$
66.36

 
$
50.97

Weighted-average fair value at grant date
$
93.25

 
$
64.08

____________
(1) 
The risk-free interest rate for periods within the expected life of the award is based on the U.S. Treasury yield curve in effect at the time of grant.
(2) 
We use historic volatility for PSU awards issued under the three-year PSU program, as implied volatility data could not be obtained for all the companies in the peer groups used for relative performance measurement within the program.
Summary of PSU Activity
The following table summarizes our PSU activity for the years ended December 31, 2016, 2015 and 2014:
 
PSUs
 
One-Year Program
 
Three-Year Program
 
Number of Awards
 
Weighted-Average Grant Date Fair Value
 
Number of Awards
 
Weighted-Average Grant Date Fair Value
Unvested balances at December 31, 2013
804,377

 
$
27.38

 
1,111,224

 
$
31.95

Granted
328,791

 
36.20

 
553,846

 
42.80

Vested
(442,781
)
 
27.75

 
—

 
—

Forfeited
(132,347
)
 
28.58

 
(10,503
)
 
30.82

Unvested balances at December 31, 2014
558,040

 
$
24.17

 
1,654,567

 
$
35.57

Granted
206,199

 
48.16

 
649,626

 
49.69

Vested
(247,273
)
 
30.51

 
(837,109
)
 
22.50

Forfeited
(92,999
)
 
34.74

 
(27,366
)
 
43.49

Unvested balances at December 31, 2015
423,967

 
$
41.34

 
1,439,718

 
$
49.41

Granted
242,642

 
58.33

 
761,501

 
66.89

Vested
(242,793
)
 
39.63

 
(879,926
)
 
43.81

Forfeited
(45,050
)
 
47.72

 
(6,625
)
 
69.11

Unvested balances at December 31, 2016
378,766

 
$
52.55

 
1,314,668

 
$
63.18
Summary of Stock Option Activity
A summary of stock option activity for the years ended December 31, 2016, 2015 and 2014 is as follows:
 
Number of Stock Options
 
Weighted-Average Exercise Price
 
 
 
 
Outstanding at December 31, 2013
4,926,522

 
$
25.21

Exercised
(1,578,050
)
 
20.31

Forfeited or expired
(31,690
)
 
24.23

Outstanding at December 31, 2014
3,316,782

 
$
27.56

Exercised
(682,054
)
 
26.84

Forfeited or expired
(8,241
)
 
28.53

Outstanding at December 31, 2015
2,626,487

 
$
27.74

Exercised
(1,219,820
)
 
34.00

Forfeited or expired
(296
)
 
23.31

Outstanding at December 31, 2016
1,406,371

 
$
22.32
Summary of Significant Ranges of Outstanding and Exercisable Stock Options
The following table summarizes significant ranges of outstanding and exercisable stock options as of December 31, 2016:
 
 
Outstanding and Exercisable
Range of Exercise Prices
 
Number of
Stock Options
 
Weighted-Average Remaining
Contractual Term (in years)
 
Weighted-Average
Exercise Price
 
Aggregate Intrinsic
Value (in millions)
$
17.36

-
$
19.99

 
140,733

 
3.13
 
$
19.74

 
$
7

$
20.00

-
$
25.75

 
1,237,333

 
2.62
 
22.16

 
55

$
25.76

-
$
45.38

 
28,305

 
1.17
 
41.77

 
1

Total
 
 
 
1,406,371

 
2.65
 
$
22.32

 
$
63

 
 
 
 
 
 
 
 
 
 
 
Schedule of Employee Activity and Expense
The following table summarizes employee activity and expense associated with the ESPP for the years ended December 31, 2016, 2015 and 2014.
 
Year Ended December 31,
 
2016
 
2015
 
2014
Number of shares purchased by employees
233,464

 
247,444

 
256,772

Weighted-average price of shares purchased
$
50.39

 
$
40.95

 
$
33.06

Compensation expense (in millions)
$
4

 
$
4

 
$
4