|
Share-Based Compensation Plans (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Share Based Compensation Plans |
|
| Schedule of weighted-average assumption for option valuation |
| |
|
Years ended December 31, |
|
| |
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
Dividend yield |
|
|
2% |
|
|
|
— |
|
|
|
4% |
|
|
Expected price volatility |
|
|
39% |
|
|
|
43% |
|
|
|
40% |
|
|
Risk-free interest rate |
|
|
0.94% |
|
|
|
0.87% |
|
|
|
1.97% |
|
|
Expected life of options |
|
|
5.3 years |
|
|
|
5.0 years |
|
|
|
4.9 years |
|
|
Weighted-average fair value of options granted |
|
$ |
17.37 |
|
|
$ |
18.87 |
|
|
$ |
19.75 |
|
|
|
Time-based awards
|
|
| Share Based Compensation Plans |
|
| Summary of unvested deferred units activity |
| |
|
Number
of
units |
|
|
Weighted-average
grant-date fair value
per share |
|
|
Unvested at January 1, 2013 |
|
2,870,051 |
|
|
$ |
58.09 |
|
|
Granted |
|
1,691,029 |
|
|
|
58.91 |
|
|
Vested |
|
(1,556,840 |
) |
|
|
61.32 |
|
|
Forfeited |
|
(271,912 |
) |
|
|
57.28 |
|
|
Unvested at December 31, 2013 |
|
2,732,328 |
|
|
$ |
56.84 |
|
|
| Summary of activity for vested and unvested stock options outstanding |
| |
|
Number
of shares
under option |
|
|
Weighted-average
exercise price
per share |
|
|
Weighted-average
remaining
contractual term
(years) |
|
|
Aggregate intrinsic value
(in millions) |
|
|
Outstanding at January 1, 2013 |
|
1,616,055 |
|
|
$ |
71.69 |
|
|
6.30 |
|
|
$ |
— |
|
|
Granted |
|
455,915 |
|
|
|
59.30 |
|
|
|
|
|
|
|
|
|
Exercised |
|
(102,254 |
) |
|
|
36.64 |
|
|
|
|
|
|
|
|
|
Forfeited |
|
(102,973 |
) |
|
|
56.97 |
|
|
|
|
|
|
|
|
|
Expired |
|
(12,579 |
) |
|
|
27.15 |
|
|
|
|
|
|
|
|
|
Outstanding at December 31, 2013 |
|
1,854,164 |
|
|
$ |
71.49 |
|
|
6.55 |
|
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Vested and exercisable at December 31, 2013 |
|
1,176,140 |
|
|
$ |
79.25 |
|
|
5.32 |
|
|
$ |
— |
|
|
| Summary of activity for stock appreciation rights outstanding |
| |
|
Number
of
awards |
|
|
Weighted-average
exercise price
per share |
|
|
Weighted-average
remaining
contractual term
(years) |
|
|
Aggregate
intrinsic value
(in millions) |
|
|
Outstanding at January 1, 2013 |
|
187,739 |
|
|
$ |
93.39 |
|
|
3.76 |
|
|
$ |
— |
|
|
Outstanding at December 31, 2013 |
|
187,739 |
|
|
$ |
93.39 |
|
|
2.76 |
|
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Vested and exercisable at December 31, 2013 |
|
187,739 |
|
|
$ |
93.39 |
|
|
2.76 |
|
|
$ |
— |
|
|
|
Market-based awards
|
|
| Share Based Compensation Plans |
|
| Summary of unvested deferred units activity |
| |
|
Number
of
units |
|
|
Weighted-average
grant-date fair value
per share |
|
|
Unvested at January 1, 2013 |
|
231,451 |
|
|
$ |
65.50 |
|
|
Granted |
|
171,001 |
|
|
|
74.05 |
|
|
Vested |
|
(78,136 |
) |
|
|
78.69 |
|
|
Forfeited |
|
(18,153 |
) |
|
|
69.87 |
|
|
Unvested at December 31, 2013 |
|
306,163 |
|
|
$ |
66.65 |
|
|
|
Performance-based awards
|
|
| Share Based Compensation Plans |
|
| Summary of activity for vested and unvested stock options outstanding |
| |
|
Number
of shares
under option |
|
|
Weighted-average
exercise price
per share |
|
|
Weighted-average
remaining
contractual term
(years) |
|
|
Aggregate
intrinsic value
(in millions) |
|
|
Outstanding at January 1, 2013 |
|
179,262 |
|
|
$ |
75.30 |
|
|
3.22 |
|
|
$ |
— |
|
|
Exercised |
|
(7,385 |
) |
|
|
22.58 |
|
|
|
|
|
|
|
|
|
Outstanding at December 31, 2013 |
|
171,877 |
|
|
$ |
77.57 |
|
|
2.28 |
|
|
$ |
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Vested and exercisable at December 31, 2013 |
|
171,877 |
|
|
$ |
77.57 |
|
|
2.28 |
|
|
$ |
— |
|
|