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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2012
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Pre-Tax Compensation Expense (Income) and Related Income Tax Benefit for Stock-Based Incentives

Pre-tax compensation expense (income) and the income tax benefit related to these stock-based incentives were as follows, in millions:

 

     2012      2011      2010  

Long-term stock awards

    $ 35       $ 39       $ 37   

Stock options

      15         21         22   

Phantom stock awards and stock appreciation rights

      11         1         3   
  

 

 

     

 

 

     

 

 

  

Total

    $ 61       $ 61       $ 62   
  

 

 

     

 

 

     

 

 

  

Income tax benefit (37 percent tax rate – before valuation allowance)

    $ 23       $ 23       $ 23   
  

 

 

     

 

 

     

 

 

  
Company's Long-Term Stock Award Activity

The Company’s long-term stock award activity was as follows, shares in millions:

 

     2012      2011      2010  

Unvested stock award shares at January 1

      10         10         9   

Weighted average grant date fair value

    $ 17       $ 19       $ 21   

Stock award shares granted

      1         2         3   

Weighted average grant date fair value

    $ 12       $ 13       $ 14   

Stock award shares vested

      2         2         2   

Weighted average grant date fair value

    $ 18       $ 20       $ 23   

Stock award shares forfeited

      1         —           —     

Weighted average grant date fair value

    $ 17       $ 18       $ 20   

Unvested stock award shares at December 31

      8         10         10   

Weighted average grant date fair value

    $ 16       $ 17       $ 19   
Company's Stock Option Activity

The Company’s stock option activity was as follows, shares in millions:

 

     2012          2011          2010      

Option shares outstanding, January 1

      36           37           36     

Weighted average exercise price

    $ 21         $ 21         $ 23     

Option shares granted, including restoration options

      1           2           5     

Weighted average exercise price

    $ 12         $ 13         $ 14     

Option shares exercised

      1           —             —       

Aggregate intrinsic value on date of exercise (A)

    $ 5      million    $ 1      million    $ 1      million

Weighted average exercise price

    $ 10         $ 8         $ 8     

Option shares forfeited

      6           3           4     

Weighted average exercise price

    $ 19         $ 22         $ 23     

Option shares outstanding, December 31

      30           36           37     

Weighted average exercise price

    $ 21         $ 21         $ 21     

Weighted average remaining option term (in years)

      5           5           6     

Option shares vested and expected to vest, December 31

      30           36           37     

Weighted average exercise price

    $ 21         $ 21         $ 22     

Aggregate intrinsic value (A)

    $ 55      million    $ 12      million    $ 23      million

Weighted average remaining option term (in years)

      5           5           6     

Option shares exercisable (vested),

               

December 31

      23           24           22     

Weighted average exercise price

    $ 24         $ 25         $ 25     

Aggregate intrinsic value (A)

    $ 22      million    $ 4      million    $ 4      million

Weighted average remaining option term (in years)

      4           4           4     

 

(A) Aggregate intrinsic value is calculated using the Company’s stock price at each respective date, less the exercise price (grant date price) multiplied by the number of shares.
Weighted Average Grant Date Fair Value of Option Shares Granted and Assumptions Used to Estimate Those Values Using Black-Scholes Option Pricing Model

The weighted average grant date fair value of option shares granted and the assumptions used to estimate those values using a Black-Scholes option pricing model, was as follows:

 

     2012     2011     2010  

Weighted average grant date fair value

    $ 4.44      $ 5.07      $ 5.30   

Risk-free interest rate

      1.09 %      2.69 %      2.76 % 

Dividend yield

      2.57 %      2.35 %      2.17 % 

Volatility factor

      50.97 %      49.03 %      46.03 % 

Expected option life

      6 years        6 years        6 years   
Stock Option Shares Outstanding and Exercisable

The following table summarizes information for stock option shares outstanding and exercisable at December 31, 2012, shares in millions:

 

   

Option Shares Outstanding

  

Option Shares Exercisable

Range of

Prices

  

Number of Shares

  

Weighted Average
Remaining Option Term

  

Weighted Average
Exercise Price

  

Number of Shares

  

Weighted Average
Exercise Price

$8-23

   15   6 Years   $14   8   $15

$24-28

   6   2 Years   $27   6   $27

$29-32

   9   3 Years   $30   9   $30

$33-38

   —     3 Years   $34   —     $34
 

 

      

 

  

$8-38

   30   5 Years   $21   23   $24
 

 

      

 

  
Phantom Stock Awards and Stock Appreciation Rights

Information related to phantom stock awards and SARs was as follows, in millions:

 

     Phantom Stock
Awards		      Stock Appreciation
Rights		  
     At December 31,      At December 31,  
     2012      2011      2012      2011  

Accrued compensation cost liability

    $ 11       $ 7       $ 6       $ 3   

Unrecognized compensation cost

    $ 5       $ 4       $ 1       $ 1   

Equivalent common shares

      1         1         2         2