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Share-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2012
Share-Based Compensation Plans [Abstract]  
Stock option activity
A summary of stock option activity is as follows:



 


 


 


 

 
 
Shares (000)
 
Wtd. Avg.
Exercise Price
Per Share
 
Wtd. Avg.
Remaining
Contractual Term
(years)
 
Aggregate
Intrinsic Value
(in millions)
 
Outstanding, January 1, 2010
 
 
5,858
 
$
46
 
 
 
 
 
 
 
Granted
 
 
897
 
 
53
 
 
 
 
 
 
 
Exercised
 
 
(682
)
 
37
 
 
 
 
$
14
 
Expired or cancelled
 
 
(133
)
 
50
 
 
 
 
 
 
 
Outstanding, December 31, 2010
 
 
5,940
 
$
48
 
 
6.2
 
 
 
 
Vested or expected to vest, December 31, 2010
 
 
5,877
 
$
48
 
 
6.1
 
 
 
 
Exercisable, December 31, 2010
 
 
3,446
 
$
49
 
 
4.7
 
 
 
 
Outstanding, January 1, 2011
 
 
5,940
 
$
48
 
 
 
 
 
 
 
Granted
 
 
199
 
 
67
 
 
 
 
 
 
 
Exercised
 
 
(721
)
 
39
 
 
 
 
$
13
 
Expired or cancelled
 
 
(153
)
 
49
 
 
 
 
 
 
 
Outstanding, December 31, 2011
 
 
5,265
 
$
50
 
 
5.7
 
$
7
 
Vested or expected to vest, December 31, 2011
 
 
5,235
 
$
50
 
 
5.6
 
 
 
 
Exercisable, December 31, 2011
 
 
3,626
 
$
51
 
 
4.8
 
$
4
 
Outstanding, January 1, 2012
 
 
5,265
 
$
50
 
 
 
 
 
 
 
Granted
 
 
302
 
 
45
 
 
 
 
 
 
 
Exercised
 
 
(116
)
 
34
 
 
 
 
$
1
 
Expired or cancelled
 
 
(107
)
 
51
 
 
 
 
 
 
 
Outstanding, December 31, 2012
 
 
5,344
 
$
50
 
 
5.0
 
$
14
 
Vested or expected to vest, December 31, 2012
 
 
5,326
 
$
50
 
 
4.9
 
 
 
 
Exercisable, December 31, 2012
 
 
4,210
 
$
51
 
 
4.3
 
$
11
 

Options outstanding and exercisable
Options outstanding and exercisable as of December 31, 2012 are as follows:



 


 


 


 


 

 
 
 
 
 
Options Outstanding
 
Options Exercisable
 
Exercise Price
 
Shares (000)
 
Weighted-
Average
Remaining
Contractual
Life (years)
 
Weighted-
Average
Exercise Price
 
Shares (000)
 
Weighted-
Average
Exercise Price
 
$27–$34
 
 
1,211
 
 
5.4
 
$
31
 
 
918
 
$
31
 
$35–$44
 
 
1,073
 
 
3.9
 
 
44
 
 
775
 
 
44
 
$45–$55
 
 
1,522
 
 
5.2
 
 
53
 
 
1,127
 
 
53
 
$56–$93
 
 
1,538
 
 
5.0
 
 
66
 
 
1,390
 
 
66
 
 
 
 
5,344
 
 
5.0
 
$
50
 
 
4,210
 
$
51
 
 
Assumptions used to estimate fair value of share awards
We estimated the fair value of each stock option on the date of grant using the Black-Scholes option pricing model and the following assumptions:



 


 


 

Year Ended December 31
 
2012
 
2011
 
2010
 
Average risk-free interest rate
 
 
1.1
%
 
2.6
%
 
2.6
%
Expected dividend yield
 
 
1.8
%
 
1.1
%
 
1.4
%
Expected volatility
 
 
44.0
%
 
41.0
%
 
41.0
%
Expected term (years)
 
 
5.9
 
 
5.9
 
 
5.4
 
 
Restricted stock activity
A summary of restricted stock activity is as follows:



 


 


 


 

 
 
Shares (000)
 
Wtd. Avg.
Price Per Share
 
Wtd. Avg.
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic Value
(in millions)
 
Unvested, January 1, 2010
 
 
369
 
$
43
 
 
1.6
 
 
 
 
Granted
 
 
21
 
 
56
 
 
 
 
 
 
 
Vested
 
 
(86
)
 
41
 
 
 
 
 
 
 
Forfeited
 
 
(9
)
 
31
 
 
 
 
 
 
 
Unvested, December 31, 2010
 
 
295
 
$
45
 
 
0.9
 
 
 
 
Granted
 
 
264
 
$
67
 
 
 
 
 
 
 
Vested
 
 
(143
)
 
46
 
 
 
 
 
 
 
Forfeited
 
 
(7
)
 
52
 
 
 
 
 
 
 
Unvested, December 31, 2011
 
 
409
 
$
59
 
 
1.8
 
 
 
 
Granted
 
 
309
 
$
44
 
 
 
 
 
 
 
Vested
 
 
(124
)
 
40
 
 
 
 
 
 
 
Forfeited
 
 
(5
)
 
67
 
 
 
 
 
 
 
Unvested, December 31, 2012
 
 
589
 
$
55
 
 
1.7
 
$
25
 
 
Performance share units detail by grant year
A summary of the performance share units detail by grant year is as follows:



 


 


 


 

 
 
2010
 
2011
 
February 2012
 
July 2012
 
Grant Date
 
February 18,
2010
 
February 16,
2011
 
February 15,
2012
 
July 1,
2012
 
Performance Period (Years)
 
2010–2011
 
2011
 
2012
 
2012–2014
 
Vesting Date(s)
 
100% on
 
50% on
 
50% on
 
50% on
 
 
 
December 31,
2011
 
December 31,
2012 and 2013
 
December 31,
2013 and 2014
 
December 31,
2015 and 2016
 
Payout Levels (in units):
 
 
 
 
 
 
 
 
 
 
 
 
 
Threshold Award
 
 
53,621
 
 
63,655
 
 
88,907
 
 
68,056
 
Target Award
 
 
107,242
 
 
127,310
 
 
177,814
 
 
136,112
 
Outstanding Award
 
 
214,484
 
 
254,620
 
 
355,628
 
 
272,224
 
Units Forfeited in 2012 (at Target Award level)
 
 
2,500
 
 
5,668
 
 
19,137
 
 
18,824
 
Shares Issued in 2012
 
 
196,125
 
 
106,394
 
 
 
 
 
Shares Subject to Holding Period as of
December 31, 2012
 
 
 
 
94,756
 
 
170,701
 
 
 
% of the Target Performance Level based on
the Average Operating Profit Margin over the
Performance Period
 
 
183%
 
 
158%
 
 
96%
 
 
N/A