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STOCK OWNERSHIP AND COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Assumptions Used in Valuing The Company's Stock Options
The weighted average assumptions used in valuing options granted in the periods presented are:
 
2014
 
2013
 
2012
 
 
 
 
 
 
Weighted average fair value of options at grant date
$10.99
 
$12.64
 
$15.87
Expected volatility
25.1%
 
25.8%
 
27%
Dividend yield
2.1%
 
1.4%
 
0.9%
Risk-free interest rate
1.6% - 2.0%
 
1.1% - 1.3%
 
1.3% - 1.5%
Expected holding period, in years
5.5 - 6.6
 
5.5 - 6.7
 
6.7 - 7.5
Summary of Transactions Under The Company's Stock Option Plans
Transactions under the stock option plans for 2014 were as follows:
 



Shares
(in millions)
 


Weighted
Average Exercise Price
 
Weighted Average Remaining Contractual Term
(in years)
 

Aggregate Intrinsic Value
 
 
 
 
 
 
 
 
Options outstanding, beginning of year
6.3

 
$
54.20

 
 
 
 
Options granted
2.5

 
52.39

 
 
 
 
Options exercised
(1.5
)
 
51.65

 
 
 
 
Options forfeited and canceled
(0.7
)
 
50.47

 
 
 
 
 
 
 
 
 
 
 
 
Options outstanding, end of year
6.6

 
$
54.46

 
7.3
 
$
83

 
 
 
 
 
 
 
 
Exercisable, end of year
3.1

 
$
55.00

 
5.6
 
$
37

Vested and expected to vest, end of year
6.4

 
$
54.50

 
7.2
 
$
81
Summary of Transactions Under Stock Awards Other Than Option Awards
The following summarizes the activity relative to stock awards, including restricted stock awards, restricted stock units and performance share units, for 2014, 2013 and 2012:

 
2014
 
2013
 
2012
 
Shares
(in millions)
 
Weighted
Average
Grant Date
Fair Value
 
Shares
(in millions)
 
Weighted
Average
Grant Date
Fair Value
 
Shares
(in millions)
 
Weighted
Average
Grant Date
Fair Value
Shares outstanding, beginning of year
0.7

 
$
57.20

 
1.2

 
$
56.84

 
2.0

 
$
54.61

Shares granted
0.7

 
52.72

 
0.8

 
56.79

 
0.8

 
57.78

Shares vested
(0.3
)
 
57.14

 
(0.5
)
 
56.25

 
(0.9
)
 
52.62

Shares forfeited and canceled
—

 
—

 
(0.1
)
 
56.92

 
(0.1
)
 
57.09

Adjustment to estimate of performance share units to be earned
0.1

 
56.10

 
(0.7
)
 
56.84

 
(0.6
)
 
57.06

 
 
 
 
 
 
 
 
 
 
 
 
Shares outstanding, end of year
1.2

 
$
54.37

 
0.7

 
$
57.20

 
1.2

 
$
56.84