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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Options Outstanding and Exercised Under Prior and Existing Stock Incentive Plans

The following is a summary of stock options outstanding and exercised under prior and existing stock incentive plans of the Company:

 

Year Ended December 31   Stock
Options/Shares		      Weighted-
Average
Exercise Price		        Weighted-Average
Remaining Contractual
Term		        Aggregate
Intrinsic Value
(in millions)		  

2014

               

Number outstanding at beginning of period

     46,724,765       $ 29.12             

Granted

     1,246,451         40.32             

Exercised

     (13,851,590 )       29.59             

Cancelled(a)

     (470,428 )       31.12             
 

 

 

  

Number outstanding at end of period(b)

     33,649,198       $ 29.31           4.0         $ 526   

Exercisable at end of period

     28,923,260       $ 28.79           3.4         $ 467   

2013

               

Number outstanding at beginning of period

     63,171,918       $ 28.83             

Granted

     1,168,011         33.99             

Exercised

     (17,260,740 )       28.41             

Cancelled(a)

     (354,424 )       29.22             
 

 

 

  

Number outstanding at end of period(b)

     46,724,765       $ 29.12           4.4         $ 527   

Exercisable at end of period

     39,556,000       $ 29.19           3.8         $ 444   

2012

               

Number outstanding at beginning of period

     75,823,941       $ 27.60             

Granted

     4,180,492         28.65             

Exercised

     (15,681,323 )       23.12             

Cancelled(a)

     (1,151,192 )       24.90             
 

 

 

  

Number outstanding at end of period(b)

     63,171,918       $ 28.83           4.9         $ 196   

Exercisable at end of period

     50,671,654       $ 30.12           4.2         $ 92   

 

  
(a) Options cancelled include both non-vested (i.e., forfeitures) and vested options.
(b) Outstanding options include stock-based awards that may be forfeited in future periods. The impact of the estimated forfeitures is reflected in compensation expense.
Weighted Average Estimated Fair Value of Stock Options Granted and Assumptions Utilized by Company for Newly Issued Grants

The following table includes the weighted average estimated fair value of stock options granted and the assumptions utilized by the Company for newly issued grants:

 

Year Ended December 31   2014      2013      2012  

Estimated fair value

   $ 11.38       $ 12.13       $ 10.19   

Risk-free interest rates

     1.7 %       1.0 %       .9 % 

Dividend yield

     2.6 %       2.6 %       2.6 % 

Stock volatility factor

     .38         .49         .49   

Expected life of options (in years)

     5.5         5.5         5.5   
Summary of Certain Stock Option Activity

The following summarizes certain stock option activity of the Company:

 

Year Ended December 31 (Dollars in Millions)   2014      2013      2012  

Fair value of options vested

   $ 33       $ 41       $ 49   

Intrinsic value of options exercised

     171         144         143   

Cash received from options exercised

     408         489         362   

Tax benefit realized from options exercised

     66         56         75   

Stock Options Outstanding Additional Information

Additional information regarding stock options outstanding as of December 31, 2014, is as follows:

 

    Outstanding Options      Exercisable Options  
Range of Exercise Prices   Shares        Weighted-
Average
Remaining
Contractual
Life (Years)		        Weighted-
Average
Exercise
Price		      Shares        Weighted-
Average
Exercise
Price		  

$11.02 – $15.00

     3,366,770           4.1         $ 11.33         3,366,770         $ 11.33   

$15.01 – $20.00

     161,742           1.3           19.57         161,742           19.57   

$20.01 – $25.00

     2,513,347           5.1           23.85         2,505,271           23.84   

$25.01 – $30.00

     9,825,343           4.6           28.95         7,101,828           29.06   

$30.01 – $35.00

     11,611,190           3.4           32.13         10,798,653           31.99   

$35.01 – $40.00

     4,988,996           2.1           36.04         4,988,996           36.04   

$40.01 – $41.61

     1,181,810           9.1           40.32         –           –   

Total

     33,649,198           4.0         $ 29.31         28,923,260         $ 28.79   

Summary of Company's Restricted Shares of Stock and Unit Awards

A summary of the status of the Company’s restricted shares of stock and unit awards is presented below:

 

    2014      2013      2012  
Year Ended December 31   Shares      Weighted-
Average Grant-
Date Fair
Value		      Shares      Weighted-
Average Grant-
Date Fair
Value		      Shares      Weighted-
Average Grant-
Date Fair
Value		  

Outstanding at beginning of period

     8,653,859       $ 29.96         8,935,743       $ 25.04         8,995,295       $ 22.46   

Granted

     3,133,168         40.37         3,717,635         33.88         3,085,077         28.70   

Vested

     (3,409,650 )       29.38         (3,744,411 )       22.17         (2,931,820 )       20.97   

Cancelled

     (455,806 )       34.05         (255,108 )       29.18         (212,809 )       25.01   

Outstanding at end of period

     7,921,571       $ 34.09         8,653,859       $ 29.96         8,935,743       $ 25.04