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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Weighted Average Assumptions Used to Determine Fair Value of Option Grants

The weighted average assumptions used to determine the fair value of option grants were as follows:

 

     Year Ended
December 31, 2012
 

Dividend yield

     1.25

Volatility:

  

Near term

     37.0

Long term

     46.0

Expected life

     6 yrs.   

Yield curve:

  

6 month

     0.14

1 year

     0.18

3 year

     0.41

5 year

     0.84

10 year

     1.94
Stock Option Activity

The following table summarizes our stock option activity during 2014:

 

     Options
(In Millions)
     Weighted Average
Exercise
Price Per Share
 

Outstanding at December 31, 2013

     1.1       $ 48.55   

Granted

             n/a   

Exercised

     (0.5      48.32   

Forfeited, Canceled or Expired

     (0.1      56.90   
  

 

 

    

 

 

 

Outstanding at December 31, 2014

     0.5       $ 48.41   
  

 

 

    

 

 

 

Exercisable at December 31, 2014

     0.4       $ 44.98   
  

 

 

    

 

 

 
Restricted Stock and Units Activity

The following table summarizes our restricted stock and units activity during 2014:

 

     Number of
Restricted
Stock  and Units

(In Millions)
     Weighted Average
Grant Date Value
Per Share
 

Outstanding at December 31, 2013

     3.0       $ 57.11   

Granted

     1.0         81.75   

Lapse of restrictions

     (1.1      58.41   

Forfeited or canceled

     (0.3      62.72   
  

 

 

    

 

 

 

Outstanding at December 31, 2014

     2.6       $ 65.28