Common Equity (Tables)
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6 Months Ended |
Jun. 30, 2013
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Stockholders' Equity Note [Abstract] |
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Assumptions for valuing options using binomial option pricing model |
| | | | | | | | 2013 | | 2012 | | | | | Risk-free interest rate | 0.1% - 1.9% |
| | 0.1% - 2.0% |
| Dividend yield | 3.7 | % | | 3.9 | % | Expected volatility | 18.0 | % | | 19.0 | % | Expected forfeiture rate | 2.0 | % | | 2.0 | % | Expected life (years) | 5.9 |
| | 5.9 |
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Stock option activity |
| | | | | | | | | | | | | | | | | | | | | Weighted- | | | | | | | | | Average | | | | | | | Weighted- | | Remaining | | Aggregate | | | Number of | | Average | | Contractual Life | | Intrinsic Value | Stock Options | | Options | | Exercise Price | | (Years) | | (Millions) | Outstanding as of April 1, 2013 | | 8,619,564 |
| | $ | 26.42 |
| | | | | Granted | | — |
| | $ | — |
| | | | | Exercised | | (557,793 | ) | | $ | 23.44 |
| | | | | Forfeited | | (5,350 | ) | | $ | 35.38 |
| | | | | Outstanding as of June 30, 2013 | | 8,056,421 |
| | $ | 26.62 |
| | | | | | | | | | | | | | Outstanding as of January 1, 2013 | | 8,416,876 |
| | $ | 23.96 |
| | | | | Granted | | 1,365,970 |
| | $ | 37.46 |
| | | | | Exercised | | (1,721,075 | ) | | $ | 22.22 |
| | | | | Forfeited | | (5,350 | ) | | $ | 35.38 |
| | | | | Outstanding as of June 30, 2013 | | 8,056,421 |
| | $ | 26.62 |
| | 5.8 | | $ | 115.8 |
| | | | | | | | | | Exercisable as of June 30, 2013 | | 5,761,641 |
| | $ | 23.01 |
| | 4.5 | | $ | 103.6 |
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Stock options outstanding |
| | | | | | | | | | | | | | | | | | | | | | Options Outstanding | | Options Exercisable | | | | | Weighted-Average | | | | Weighted-Average | | | | | | | Remaining | | | | | | Remaining | | | Number of | | Exercise | | Contractual | | Number of | | Exercise | | Contractual | Range of Exercise Prices | | Options | | Price | | Life (Years) | | Options | | Price | | Life (Years) | $16.72 to $21.11 | | 2,286,286 |
| | $ | 20.24 |
| | 4.2 | | 2,286,286 |
| | $ | 20.24 |
| | 4.2 | $23.88 to $29.35 | | 3,578,880 |
| | $ | 24.65 |
| | 4.7 | | 3,284,150 |
| | $ | 24.23 |
| | 4.5 | $34.87 to $37.46 | | 2,191,255 |
| | $ | 36.48 |
| | 9.1 | | 191,205 |
| | $ | 35.14 |
| | 8.6 | | | 8,056,421 |
| | $ | 26.62 |
| | 5.8 | | 5,761,641 |
| | $ | 23.01 |
| | 4.5 |
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Non-vested options |
| | | | | | | | | | | | | Weighted-Average | Non-Vested Stock Options | | Number of Options | | Fair Value | Non-vested as of April 1, 2013 | | 2,331,125 |
| | $ | 3.38 |
| Granted | | — |
| | $ | — |
| Vested | | (30,995 | ) | | $ | 3.37 |
| Forfeited | | (5,350 | ) | | $ | 3.37 |
| Non-vested as of June 30, 2013 | | 2,294,780 |
| | $ | 3.38 |
| | | | | | Non-vested as of January 1, 2013 | | 1,637,570 |
| | $ | 3.31 |
| Granted | | 1,365,970 |
| | $ | 3.45 |
| Vested | | (703,410 | ) | | $ | 3.33 |
| Forfeited | | (5,350 | ) | | $ | 3.37 |
| Non-vested as of June 30, 2013 | | 2,294,780 |
| | $ | 3.38 |
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Restricted stock activity |
| | | | | | | | | | | | | Weighted-Average | Restricted Shares | | Number of Shares | | Grant Date Fair Value | Outstanding as of April 1, 2013 | | 107,929 |
| | | Granted | | — |
| | $ | — |
| Released | | (7,902 | ) | | $ | 12.66 |
| Forfeited | | (1,570 | ) | | $ | 35.30 |
| Outstanding as of June 30, 2013 | | 98,457 |
| | | | | | | | Outstanding as of January 1, 2013 | | 126,392 |
| | | Granted | | 53,055 |
| | $ | 37.71 |
| Released | | (67,722 | ) | | $ | 26.77 |
| Forfeited | | (13,268 | ) | | $ | 33.28 |
| Outstanding as of June 30, 2013 | | 98,457 |
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