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SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2015
Weighted Average Assumptions Used in Estimating Value of Stock Options Granted
Weighted Average Assumptions Used in Estimating Value of Stock Options Granted
  
2015 
 GRANTS

2014 
 GRANTS

2013 
 GRANTS

Expected volatility
25.92
%
31.71
%
38.00
%
Expected dividends
3.28
%
2.92
%
2.23
%
Expected term (in years)
4.77

4.97

4.97

Risk-free rate
1.54
%
1.57
%
0.92
%
Weighted average grant-date fair value
$
5.85

$
6.62

$
8.40
Schedule of Stock Options Activity
Activity
The following table shows our option unit activity for 2015.
 
OPTIONS
(IN
THOUSANDS)
WEIGHTED
AVERAGE
EXERCISE
PRICE

WEIGHTED
AVERAGE
REMAINING
CONTRACTUAL
TERM
(IN YEARS)
AGGREGATE
INTRINSIC
VALUE (IN
MILLIONS)

Outstanding at December 31, 2014
12,285
$
24.19

 
 
Granted
2,123
$
35.40

 
 
Exercised
(1,376)
$
24.46

 
 
Forfeited or expired
(269)
$
31.34

 
 
Outstanding at December 31, 2015(1)
12,763
$
25.88

5.20
$
65

Exercisable at December 31, 2015
8,442
$
22.78

3.62
$
62

(1) As of December 31, 2015, there were approximately 1,034 thousand stock options that had met the requisite service period and will be released as identified in the grant terms.
Schedule of Restricted Stock Units Award Activity
Activity
The following table shows our restricted stock unit activity for 2015.
 
STOCK UNITS
(IN THOUSANDS)
WEIGHTED
AVERAGE
GRANT-DATE
FAIR VALUE

Nonvested at December 31, 2014
1,227
$
28.06

Granted
433
$
35.41

Vested
(489)
$
26.70

Forfeited
(67)
$
31.11

Nonvested at December 31, 2015(1)
1,104
$
31.37

(1) As of December 31, 2015, there were approximately 232 thousand restricted stock units that had met the requisite service period and will be released as identified in the grant terms.
Weighted Average Assumptions Used in Estimating the Value of Performance Share Units
Weighted Average Assumptions Used in Estimating the Value of Performance Share Units
  
2015 
 GRANTS

2014 
 GRANTS

2013 
 GRANTS

Performance period
1/1/2015 – 12/31/2017

1/1/2014 – 12/31/2015

1/1/2013 – 12/31/2014

Valuation date closing stock price
$
35.41

$
30.16

$
30.48

Expected dividends
3.26
%
2.91
%
2.23
%
Risk-free rate
0.05% - 1.07%

0.03% - 0.79%

0.09% - 0.46%

Volatility
16.33% - 20.89%

20.74% - 23.53%

22.09% - 29.57%

Weighted average grant-date fair value
$
34.75

$
30.62

$
31.59
Schedule of Performance Share Units Activity
Activity
The following table shows our performance share unit activity for 2015.
 
GRANTS (IN 
THOUSANDS)

WEIGHTED
AVERAGE
GRANT-DATE
FAIR VALUE

Nonvested at December 31, 2014
890

$
29.46

Granted at target
239

$
34.75

Vested
(395
)
$
29.08

Forfeited
(23
)
$
31.34

Performance adjustment
(31
)
$
30.62

Nonvested at December 31, 2015(1)
680

$
31.42

(1) As of December 31, 2015, there were approximately 134 thousand performance share units that had met the requisite service period and will be released as identified in the grant terms.
Weighted Average Assumptions Used to Re-measure Value of Stock Appreciation Rights
Weighted Average Assumptions Used to Re-measure Value of Stock Appreciation Rights at Year-End
  
2015 
 GRANTS

2014 
 GRANTS

2013 
 GRANTS

Expected volatility
22.10
%
18.20
%
24.02
%
Expected dividends
4.20
%
3.21
%
2.81
%
Expected term (in years)
1.94

1.32

1.16

Risk-free rate
0.99
%
0.45
%
0.19
%
Weighted average fair value
$
6.96

$
12.70

$
8.68
Schedule of Stock Appreciation Rights Activity
Activity
The following table shows our stock appreciation rights activity for 2015.
 
RIGHTS
(IN
THOUSANDS)

WEIGHTED
AVERAGE
EXERCISE
PRICE

AVERAGE
REMAINING
CONTRACTUAL
TERM
(IN YEARS)
AGGREGATE
INTRINSIC
VALUE (IN
MILLIONS)

Outstanding at December 31, 2014
417

$
22.85

 
 
Granted
58

$
35.40

 
 
Exercised
(79
)
$
23.91

 
 
Forfeited or expired
(14
)
$
31.01

 
 
Outstanding at December 31, 2015
382

$
24.25

4.34
$
14

Exercisable at December 31, 2015
289

$
21.63

2.98
$
11