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Long-Term Incentive Employee Compensation (Tables) | 12 Months Ended
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Dec. 31, 2011
Long-Term Incentive Employee Compensation [Abstract] |
Long-term incentive employee compensation costs |
|  | 2011(a) |  | 2010 |  | 2009
Share-based compensation expense, equity-based awards |  |  | $ | 23 |  |  |  | $ | 14 |  |  |  | $ | 16 |
Share-based compensation expense, liability-based awards |  |  |  | 2 |  |  |  |  | (4 | ) |  |  |  | 2 |
Total share-based compensation expense in operating income (loss) |  |  |  | 25 |  |  |  |  | 10 |  |  |  |  | 18 |
Tax benefit |  |  |  | 8 |  |  |  |  | 3 |  |  |  |  | 6 |
Share-based compensation expense, net of tax |  |  | $ | 17 |  |  |  | $ | 7 |  |  |  | $ | 12 |
(a) | Share-based compensation expense incurred during 2011 includes $13 classified as a Transformation cost in the Consolidated Income Statement related to the modification of equity awards.
Status of stock option and restricted stock shares |
|  | 2011 |  | 2010 |  | 2009
STOCK OPTIONS |  | SHARES |  | WEIGHTED- AVERAGE EXERCISE PRICE |  | SHARES |  | WEIGHTED- AVERAGE EXERCISE PRICE |  | SHARES |  | WEIGHTED- AVERAGE EXERCISE PRICE
Outstanding – January 1 |  |  |  | 3.7 |  |  |  | $ | 85.08 |  |  |  |  | 4.0 |  |  |  | $ | 80.58 |  |  |  |  | 4.1 |  |  |  | $ | 79.66 |
Granted |  |  |  | 0.3 |  |  |  |  | 115.36 |  |  |  |  | 0.4 |  |  |  |  | 106.60 |  |  |  |  | 0.4 |  |  |  |  | 67.18 |
Exercised |  |  |  | (0.7 | ) |  |  |  | 76.27 |  |  |  |  | (0.6 | ) |  |  |  | 62.90 |  |  |  |  | (0.4 | ) |  |  |  | 52.64 |
Cancelled or expired(a) |  |  |  | (1.3 | ) |  |  |  | 92.76 |  |  |  |  | (0.1 | ) |  |  |  | 97.56 |  |  |  |  | (0.1 | ) |  |  |  | 91.88 |
Outstanding on Distribution Date before Equitable Adjustment |  |  |  | 2.0 |  |  |  |  | 88.52 |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |
Outstanding on Distribution Date after Equitable Adjustment |  |  |  | 8.0 |  |  |  |  | 16.18 |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |
November/December 2011 Activity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Granted |  |  |  | 0.7 |  |  |  |  | 20.28 |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |
Exercised |  |  |  | (0.7 | ) |  |  |  | 13.87 |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |
Outstanding – December 31 |  |  |  | 8.0 |  |  |  | $ | 16.70 |  |  |  |  | 3.7 |  |  |  | $ | 85.08 |  |  |  |  | 4.0 |  |  |  | $ | 80.58 |
Options exercisable – December 31 |  |  |  | 6.3 |  |  |  | $ | 16.03 |  |  |  |  | 3.0 |  |  |  | $ | 83.72 |  |  |  |  | 3.2 |  |  |  | $ | 78.98 |
(a) | Includes 1.2 shares cancelled in connection with the Distribution of Exelis and Xylem, with a corresponding weighted average exercise price of $92.20.
Share-based compensation, summary of stock options |
|  | OPTIONS OUTSTANDING |  | OPTIONS EXERCISABLE
RANGE OF EXERCISE PRICES |  | NUMBER |  | WEIGHTED- AVERAGE REMAINING CONTRACTUAL LIFE (IN YEARS) |  | WEIGHTED- AVERAGE EXERCISE PRICE |  | AGGREGATE INTRINSIC VALUE |  | NUMBER |  | WEIGHTED- AVERAGE REMAINING CONTRACTUAL LIFE (IN YEARS) |  | WEIGHTED- AVERAGE EXERCISE PRICE |  | AGGREGATE INTRINSIC VALUE
$5-$10 |  | 0.2 |  | (b) |  | $ 9.46 |  | $ 2 |  | 0.2 |  | (b) |  | $ 9.46 |  | $ 2
$10-$15 |  | 2.9 |  | 2.2 |  | 12.98 |  | 18 |  | 2.6 |  | 1.9 |  | 13.04 |  | 16
$15-$20 |  | 3.3 |  | 1.9 |  | 18.21 |  | 5 |  | 3.0 |  | 1.2 |  | 18.02 |  | 5
$20-$26 |  | 1.6 |  | 7.2 |  | 21.19 |  | – |  | 0.5 |  | 2.2 |  | 22.04 |  | –
|  | 8.0 |  | 3.0 |  | $16.70 |  | $25 |  | 6.3 |  | 1.6 |  | $16.03 |  | $23
(b) | The contractual life of the 0.2 options ended on January 2, 2012.
Weighted average assumptions |
|  | November 7, 2011 Grants |  | 2011 Grants Before Distribution |  | 2010 |  | 2009
Dividend yield |  |  |  | 1.79 | % |  |  |  | 1.73 | % |  |  |  | 1.88 | % |  |  |  | 2.54 | %
Expected volatility |  |  |  | 39.30 | % |  |  |  | 24.74 | % |  |  |  | 27.06 | % |  |  |  | 38.77 | %
Expected life (in years) |  |  |  | 7.0 |  |  |  |  | 7.0 |  |  |  |  | 7.0 |  |  |  |  | 4.7 |
Risk-free rates |  |  |  | 1.51 | % |  |  |  | 3.05 | % |  |  |  | 3.06 | % |  |  |  | 2.20 | %
Weighted-average grant date fair value |  |  | $ | 6.97 |  |  |  | $ | 29.70 |  |  |  | $ | 29.00 |  |  |  | $ | 19.20 |
Rollforward of outstanding restricted stock |
|  | 2011 |  | 2010 |  | 2009
RESTRICTED STOCK |  | SHARES |  | WEIGHTED- AVERAGE GRANT DATE FAIR VALUE |  | SHARES |  | WEIGHTED- AVERAGE GRANT DATE FAIR VALUE |  | SHARES |  | WEIGHTED- AVERAGE GRANT DATE FAIR VALUE
Outstanding – January 1 |  |  |  | 0.9 |  |  |  | $ | 89.70 |  |  |  |  | 0.8 |  |  |  | $ | 88.72 |  |  |  |  | 0.7 |  |  |  | $ | 103.92 |
Granted |  |  |  | 0.3 |  |  |  |  | 115.18 |  |  |  |  | 0.3 |  |  |  |  | 106.50 |  |  |  |  | 0.3 |  |  |  |  | 67.76 |
Lapsed |  |  |  | (0.3 | ) |  |  |  | 99.53 |  |  |  |  | (0.2 | ) |  |  |  | 108.88 |  |  |  |  | (0.2 | ) |  |  |  | 105.66 |
Cancelled(c) |  |  |  | (0.6 | ) |  |  |  | 95.30 |  |  |  |  | – |  |  |  |  | 89.50 |  |  |  |  | – |  |  |  |  | 109.88 |
Outstanding on Distribution Date before equitable adjustment |  |  |  | 0.3 |  |  |  |  | 93.42 |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |
Outstanding on Distribution Date after equitable adjustment |  |  |  | 1.0 |  |  |  |  | 17.94 |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |
November/December 2011 Activity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Granted |  |  |  | 0.4 |  |  |  |  | 20.27 |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |  |  |  |  | – |
Outstanding – December 31 |  |  |  | 1.4 |  |  |  | $ | 18.55 |  |  |  |  | 0.9 |  |  |  | $ | 89.62 |  |  |  |  | 0.8 |  |  |  | $ | 88.72 |
(c) | Includes 0.5 RS cancelled in connection with the Distribution of Exelis and Xylem, with a corresponding weighted average grant date fair value of $95.14.

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