Share-Based Associate Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2014

The following weighted average assumptions were used in determining fair value for option grants issued during 2014 and 2013:



	2014	2013	2012
Weighted-average expected term	8-9 years	9-10 years	8-10 years
Expected volatility	25.20-26.22%	25.25-26.31%	25.26-26.20%
Dividend yield	3.76%	3.65%	4.51-4.52%
Risk-free rates	2.42-2.62%	1.82-2.00%	1.58-2.00%
Weighted-average fair value of options granted during the period	$10.16	$9.71	$6.78

This is a summary of options information:



(Dollars in millions, shares in thousands)	Shares		Weighted- average exercise price		Aggregate intrinsic value
Outstanding shares at January 1, 2014	6,332		$	38.39
Granted	401		46.81
Exercised	(1,086	)	37.59
Forfeited or expired	(689	)	39.49
Outstanding shares at December 31, 2014	4,958		39.10		$	66

Options exercisable at end of period	4,165		$	38.17	$	59

Options outstanding and exercisable consisted of the following at December 31, 2014:



(Shares in thousands)	Options outstanding				Options exercisable
Range of exercise prices	Shares	Weighted-average remaining contractual life	Weighted- average exercise price		Shares	Weighted- average exercise price
$25.00 to $29.99	731	4.58 years	$	26.58	731	$	26.58
$30.00 to $34.99	675	6.01 years	33.96		675	33.96
$35.00 to $39.99	981	4.90 years	37.31		824	37.63
$40.00 to $44.99	1,258	3.09 years	43.58		1,015	43.32
$45.00 to $49.99	1,313	3.50 years	45.73		920	45.26
Total	4,958	4.17 years	39.10		4,165	38.17

This is a summary of service-based and performance-based share information, assuming a target payout for performance-based shares, for the year 2014:



(Shares in thousands)	Service-based shares		Weighted- average grant date fair value		Performance-based shares		Weighted- average grant date fair value
Nonvested at January 1, 2014	936		$	33.61	246		$	37.66
Granted	331		41.84		99		36.03
Vested	(271	)	29.79		(60	)	30.91
Forfeited or canceled	(28	)	36.28		(2	)	31.77
Nonvested at December 31, 2014	968		37.42		283		38.55