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Employee Incentive, Retirement, Deferred Compensation, and Career Achievement Plans (Tables)
12 Months Ended
Dec. 31, 2016
Employee Incentive, Retirement, Deferred Compensation, and Career Achievement Plans [Abstract]  
Stock-Based Compensation Expense and Related Income Tax Benefit



 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

  

 

2016

 

 

2015

 

 

2014

Stock option expense

  

$

45 

  

 

$

46 

  

 

$

44 

 

Restricted stock unit expense

  

 

89 

  

 

 

83 

  

 

 

66 

 

Employee stock purchase plan expense

  

 

  

 

 

  

 

 

 

Total share-based compensation expense

  

$

141 

  

 

$

135 

  

 

$

115 

 

Income tax benefit on share-based compensation expense

  

$

(53)

 

 

$

(51)

 

 

$

(43)

 



Stock Option Activity



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 



 

 

 

 

Weighted-

 

Average

 

 

 

 



Number

 

Average

 

Remaining

 

Aggregate

 



of Options

 

Exercise Price

 

Contractual

 

Intrinsic

 



(In millions)

 

per Share

 

Life (in years)

 

Value

 

Outstanding at December 31, 2015

 

40 

 

  

 

$

19.82 

 

  

 

 

 

 

 

 

 

Granted

 

 

 

 

 

30.05 

 

  

 

 

 

 

 

 

 

Exercised

 

(9)

 

 

 

 

16.77 

 

  

 

 

 

 

 

 

 

Forfeited

 

 -

 

 

 

 

26.59 

 

  

 

 

 

 

 

 

 

Expired

 

 -

 

 

 

 

22.57 

 

  

 

 

 

 

 

 

 

Outstanding at December 31, 2016

 

37 

 

  

 

$

22.12 

 

  

 

6.50 

  

 

$

649 

 

Vested and expected to vest at December 31, 2016

 

37 

 

  

 

$

22.03 

 

  

 

6.47 

  

 

$

646 

 

Vested and exercisable at December 31, 2016

 

23 

 

  

 

$

17.94 

 

  

 

5.21 

  

 

$

505 

 



Information on Stock Options Granted and Exercised



 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

  

 

2016

 

 

2015

 

 

2014

Weighted-average fair value of options granted per share

  

$

8.73 

  

 

$

8.56 

  

 

$

7.82 

 

Cash received from options exercised

  

 

144 

  

 

 

90 

  

 

 

189 

 

Tax benefit realized on options exercised

  

 

38 

  

 

 

22 

  

 

 

 

Aggregate intrinsic value of options exercised

  

 

149 

  

 

 

90 

  

 

 

86 

 



Assumptions Used to Value Options Granted and Their Expected Lives



 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

2016

 

 

2015

 

 

2014

Weighted-average expected dividend yield

 

 

1.22 

 

 

1.22 

 

 

1.20 

Weighted-average expected volatility

 

 

30 

 

 

28 

 

 

28 

Weighted-average risk-free interest rate

 

 

1.8 

 

 

2.2 

 

 

2.4 

Expected life (in years)

 

 

4.7-7.3

  

 

 

4.7 - 7.5

  

 

 

4.4 - 7.2

  



Restricted Stock Units Activity



 

 

 

 

 

 

 

 



 

 

 

 

Weighted-

 



 

Number

 

Average Grant

 



 

of Units

 

Date Fair Value

 



 

(In millions)

 

per Unit

 

Outstanding at December 31, 2015

 

 

  

$

25.84 

 

  

Granted

 

 

  

 

30.64 

 

  

Vested

 

(3)

 

 

 

22.53 

 

  

Forfeited

 

 -

 

 

 

25.80 

 

  

Outstanding at December 31, 2016

 

 

  

$

29.41 

 

  



Schedule of Changes in Projected Benefit Obligations



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

December 31,

  

 

2016

 

 

2015

Projected benefit obligation at beginning of year

  

$

17 

  

 

$

  

Service and interest cost

  

 

  

 

 

  

Actuarial (gain)/loss

  

 

  

 

 

  

Projected benefit obligation at end of year (1)

  

$

26 

  

 

$

17 

  



(1)

This amount is recognized as a liability on the consolidated balance sheets and also depicts the accumulated benefit obligation.



Schedule of Net Benefit Costs and Assumptions Used



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

December 31,

  

 

2016

 

 

2015

 

 

2014

Service and interest cost

  

$

  

 

$

  

 

$

 

Net benefit cost

  

$

  

 

$

  

 

$

 



 

 

 

 

 

 

 

 

 

 

 

 

Assumptions used to determine net benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Discount rate

 

 

4.62 

%

 

 

4.19 

%

 

 

5.30 

%

Rate of compensation increase

 

 

3.00 

%

 

 

3.00 

%

 

 

3.00 

%

Investment crediting rate for notional account balances

 

 

6.50 

%

 

 

6.50 

%

 

 

6.50 

%



Schedule of Components and Amounts Impacting AOCI



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

December 31,

  

 

2016

 

 

2015

Net (gain)/loss

  

$

  

 

$

 -

  

Amount recognized in AOCI

  

$

  

 

$

 -