Share-Based Associate Compensation Plans (Tables)

is a summary of option information for the year 2016:



(Dollars in millions, shares in thousands)	Shares		Weighted- average exercise price		Aggregate intrinsic value		Weighted-average remaining contractual life
Outstanding option shares at January 1, 2016	3,872		$	39.78
Granted	359		61.47
Exercised	(863	)	38.64
Forfeited or expired	(356	)	44.66
Outstanding option shares at December 31, 2016	3,012		42.12		$	101	5.05 years

Options exercisable at end of period	2,319		$	38.01	$	88	4.04 years

Below is a summary of service-based and performance-based share information, assuming a target payout for performance-based shares, for the year 2016:



(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, 2016	902		$	43.15	256		$	42.35
Granted	323		56.39		68		70.68
Vested	(313	)	40.99		(25	)	44.82
Forfeited or canceled	(24	)	48.31		(63	)	44.82
Nonvested at December 31, 2016	888		48.59		236		49.64

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



	2016	2015	2014
Weighted-average expected term	8 years	8-9 years	8-9 years
Expected volatility	24.88-25.75%	25.04-26.15%	25.20-26.22%
Dividend yield	2.58-3.12%	3.52%	3.76%
Risk-free rates	1.44-1.60%	1.94-2.01%	2.42-2.62%
Weighted-average fair value of options granted during the period	$13.21	$11.15	$10.16

The following assumptions were used in determining fair value for performance-based grants issued:



	2016	2015	2014
Expected term	2.44-2.88 years	2.88 years	2.88 years
Expected volatility	15.42-33.64%	13.78-34.69%	18.69-41.21%
Dividend yield	2.58-3.12%	3.52%	3.74%
Risk-free rates	0.77-0.87%	0.99%	0.66%