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Stock-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2012
Weighted Average Assumptions Used To Value Stock Options Awards

The Black Scholes option-pricing model values used to value stock option awards granted during 2012, 2011 and 2010 were determined based on the following weighted average assumptions (information for periods prior to the Spinoff was based on stock option awards for Marathon Oil common stock):

 

     2012      2011 subsequent
to Spinoff		      2011 prior
to Spinoff		      2010  

Weighted average exercise price per share

    $     42.02         $     36.18         $     51.93         $     30.12     

Expected annual dividends per share

    $ 1.00         $ 0.95         $ 1.00         $ 0.97     

Expected life in years

      5.8           5.8           5.3           5.1     

Expected volatility

      47%           48%           40%           41%     

Risk-free interest rate

      1.1%           1.4%           2.0%           2.2%     

Weighted average grant date fair value of stock option awards granted

    $ 14.45         $ 13.08         $ 16.73         $ 8.72     
Schedule Of Share-Based Compensation MPC Equity Based Stock Option Activity

The following is a summary of our common stock option activity in 2012:

 

    Number of
    of Shares(a)    		     Weighted Average
    Exercise Price    		     Weighted Average
Remaining
Contractual Term
(in years)		     Aggregate
Intrinsic Value
    (In millions)    		  

Outstanding at December 31, 2011

     9,372,370         $               33.08         

Granted

     766,543           42.04         

Exercised

     (3,843,544)          29.71         

Forfeited, canceled or expired

     (123,175)          38.88         
 

 

 

        

Outstanding at December 31, 2012

         6,172,194           36.17         
 

 

 

        

Vested and expected to vest at December 31, 2012

     6,137,435           36.14                          6.6        $             165     

Exercisable at December 31, 2012

     3,648,382           34.48          5.4          104     

 

(a) 

Includes an immaterial number of stock appreciation rights.
Summary Of Restricted Stock Award Activity

The following is a summary of restricted stock award activity of our common stock in 2012:

 

    Shares of Restricted Stock (“RS”)     Restricted Stock Units (“RSU”)  
    Number of
Shares		     Weighted Average
Grant Date
Fair Value		     Number of
Units		     Weighted Average
Grant Date
Fair Value		  

Outstanding at December 31, 2011

     348,691         $             34.36           319,944         $ 29.43      

Granted

     416,495           43.11           39,462           44.38      

RS’s Vested/RSU’s Issued

     (115,441)          29.63           (179)          34.02      

Forfeited

     (11,672)          39.54           (116)          43.44      
 

 

 

      

 

 

    

Outstanding at December 31, 2012

                 638,073           40.83                   359,111                   31.07      
 

 

 

      

 

 

    
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity, Vested And Unvested

The following is a summary of the values related to restricted stock and restricted stock unit awards held by MPC employees and non-employee directors (information for periods prior to the Spinoff is for restricted stock and restricted stock unit awards of Marathon Oil common stock):

 

    Restricted Stock     Restricted Stock Units  
    Intrinsic Value
of Awards
Vesting During
the Period
(In millions)		     Weighted Average
Grant Date Fair
Value of Awards
Granted During
the Period		     Intrinsic Value
of Awards
Issued During
the Period
(In millions)		     Weighted Average
Grant Date Fair
Value of Awards
Granted During
the Period		  

2012

   $                 5        $                 43.11        $                 -        $                 44.38   

2011 - Subsequent to the Spinoff

     1          41.54          -          33.78   

2011 - Prior to the Spinoff

     3          48.53          -          45.22   

2010

     3          30.55          -          32.18   
Schedule Of Performance Unit Awards

The following table presents a summary of the 2012 activity for performance unit awards to be settled in shares:

 

     Number
of Units		  

Outstanding at December 31, 2011

      -     

Granted

      2,040,000     

Settled

      -     

Canceled

      -     
  

 

 

  

Outstanding at December 31, 2012

              2,040,000