v2.4.0.8
Common Equity (Tables)
9 Months Ended
Sep. 30, 2013
Common Equity (Tables) [Abstract]  
Shares Repurchased [Table Text Block]
 
Nine Months Ended September 30
 
2013
 
2012
 
Shares
 
Cost
 
Shares
 
Cost
 
(In Millions)
 
 
 
 
 
 
 
 
Under May 2011 share repurchase program
2.5

 
$
103.0

 
0.4

 
$
14.0

To fulfill exercised stock options and restricted stock awards
2.1

 
84.9

 
2.5

 
91.0

Total
4.6

 
$
187.9

 
2.9

 
$
105.0

Assumptions for valuing options using binomial option pricing model
 
2013
 
2012
 
 
 
 
Non-qualified stock options granted year to date
1,418,560

 
938,770

Estimated fair value per non-qualified stock option
$
3.45

 
$
3.34

Assumptions used to value the options using a binomial option pricing model:
 
 
 
Risk-free interest rate
0.1% - 1.9%

 
0.1% - 2.0%

Dividend yield
3.7
%
 
3.9
%
Expected volatility
18.0
%
 
19.0
%
Expected forfeiture rate
2.0
%
 
2.0
%
Expected life (years)
5.9

 
5.9

Stock option activity
 
 
 
 
 
 
Weighted-
 
 
 
 
 
 
 
 
Average
 
 
 
 
 
 
Weighted-
 
Remaining
 
Aggregate
 
 
Number of
 
Average
 
Contractual Life
 
Intrinsic Value
Stock Options
 
Options
 
Exercise Price
 
(Years)
 
(Millions)
Outstanding as of July 1, 2013
 
8,484,258

 
$
26.53

 
 
 
 
Granted
 

 
$

 
 
 
 
Exercised
 
(91,096
)
 
$
21.75

 
 
 
 
Forfeited
 
(4,680
)
 
$
35.36

 
 
 
 
Outstanding as of September 30, 2013
 
8,388,482

 
$
26.58

 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding as of January 1, 2013
 
8,919,669

 
$
23.86

 
 
 
 
Granted
 
1,418,560

 
$
37.46

 
 
 
 
Exercised
 
(1,939,717
)
 
$
21.99

 
 
 
 
Forfeited
 
(10,030
)
 
$
35.37

 
 
 
 
Outstanding as of September 30, 2013
 
8,388,482

 
$
26.58

 
5.5
 
$
115.8

 
 
 
 
 
 
 
 
 
Exercisable as of September 30, 2013
 
6,007,692

 
$
22.98

 
4.2
 
$
104.5

Stock options outstanding
 
 
Options Outstanding
 
Options Exercisable
 
 
 
 
Weighted-Average
 
 
 
Weighted-Average
 
 
 
 
 
 
Remaining
 
 
 
 
 
Remaining
 
 
Number of
 
Exercise
 
Contractual
 
Number of
 
Exercise
 
Contractual
Range of Exercise Prices
 
Options
 
Price
 
Life (Years)
 
Options
 
Price
 
Life (Years)
$16.72 to $21.11
 
2,418,982

 
$
20.23

 
3.9
 
2,418,982

 
$
20.23

 
3.9
$23.88 to $29.35
 
3,698,060

 
$
24.65

 
4.5
 
3,390,790

 
$
24.23

 
4.2
$34.87 to $37.46
 
2,271,440

 
$
36.48

 
8.9
 
197,920

 
$
35.19

 
8.4
 
 
8,388,482

 
$
26.58

 
5.5
 
6,007,692

 
$
22.98

 
4.2
Non-vested options
 
 
 
 
Weighted-Average
Non-Vested Stock Options
 
Number of Options
 
Fair Value
Non-vested as of July 1, 2013
 
2,394,085

 
$
3.38

Granted
 

 
$

Vested
 
(8,615
)
 
$
3.36

Forfeited
 
(4,680
)
 
$
3.37

Non-vested as of September 30, 2013
 
2,380,790

 
$
3.38

 
 
 
 
 
Non-vested as of January 1, 2013
 
1,702,275

 
$
3.31

Granted
 
1,418,560

 
$
3.45

Vested
 
(730,015
)
 
$
3.34

Forfeited
 
(10,030
)
 
$
3.37

Non-vested as of September 30, 2013
 
2,380,790

 
$
3.38

Restricted stock activity
 
 
 
 
Weighted-Average
Restricted Shares
 
Number of Shares
 
Grant Date Fair Value
Outstanding as of July 1, 2013
 
151,271

 
 
Granted
 

 
$

Released
 

 
$

Forfeited
 
(573
)
 
$
34.96

Outstanding as of September 30, 2013
 
150,698

 
 
 
 
 
 
 
Outstanding as of January 1, 2013
 
188,222

 
 
Granted
 
74,290

 
$
37.65

Released
 
(97,973
)
 
$
26.65

Forfeited
 
(13,841
)
 
$
33.35

Outstanding as of September 30, 2013
 
150,698