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Employee Incentive, Retirement, and Deferred Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2012

Stock-Based Compensation Expense and Related Income Tax Benefit

A summary of the Company’s stock-based compensation and related income tax benefit is as follows:


Year Ended December 31,	2012			2011			2010
Stock option expense	$	57		$	61		$	53
Restricted stock unit expense		40			23			10
Restricted stock award expense		5			12			21
Employee stock purchase plan expense		3			3			3

Total stock-based compensation expense	$	105		$	99		$	87

Income tax benefit on stock-based compensation	$	(39	)	$	(37	)	$	(33	)

Stock Option Activity

The Company’s stock option activity is summarized below:


	Number of Options			Weighted- Average Exercise Price per Share		Weighted- Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value
Outstanding at December 31, 2011		58		$	16.20
Granted		11		$	13.51
Exercised		(4	)	$	10.81
Forfeited		(2	)	$	13.99
Expired		(6	)	$	16.80

Outstanding at December 31, 2012		57		$	16.04		6.70	$	39

Vested and expected to vest at December 31, 2012		54		$	16.16		6.59	$	36

Vested and exercisable at December 31, 2012		31		$	17.73		5.11	$	13

Information on Stock Options Granted and Exercised

Information on stock options granted and exercised is presented below:


Year Ended December 31,	2012		2011		2010
Weighted-average fair value of options granted per share	$	4.07	$	4.16	$	5.36
Cash received from options exercised	$	35	$	96	$	35
Tax benefit realized on options exercised	$	1	$	7	$	5
Aggregate intrinsic value of options exercised	$	9	$	38	$	17

Assumptions Used to Value Options Granted and Their Expected Lives

The assumptions used to value the Company’s options granted during the years presented and their expected lives were as follows:


Year Ended December 31,	2012			2011			2010
Weighted-average expected dividend yield		.99	%		.85	%		.71	%
Weighted-average expected volatility		31	%		36	%		35	%
Weighted-average risk-free interest rate		1.8	%		2.1	%		2.8	%
Expected life (in years)		3.0 – 6.7			0.0 – 6.3			3.0 – 5.9

Restricted Stock Units Activity

The Company’s restricted stock units activity is summarized below:


	Number of Units			Weighted- Average Grant Date Fair Value per Unit
Outstanding at December 31, 2011		8		$	13.23
Granted		6		$	13.60
Vested		(2	)	$	13.55
Forfeited		(1	)	$	13.29

Outstanding at December 31, 2012		11		$	13.34

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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