Equity Compensation Plans (Tables)

The following table details the components of stock-based compensation expense recognized in net earnings in each of the past three years:



Year Ended December 31	2011		2012		2013
Stock options	$	58	$	57	$	48
Restricted stock	25		17		30
Total stock-based compensation expense, net of tax	$	83	$	74	$	78

We estimate the fair value of options on the date of grant using the Black-Scholes option pricing model with the following assumptions for each of the past three years:



Year Ended December 31	2011		2012		2013
Expected volatility	28.4-31.5%		27.9-31.3%		21.6-27.3%
Weighted average expected volatility	30.1	%	30.7	%	23.5	%
Expected term (in months)	43-53		43-53		43-53
Risk-free interest rate	1.2-1.9%		0.6-0.8%		0.5-1.0%
Expected dividend yield	2.0	%	2.7	%	3.0	%

A summary of option activity during 2013 follows:



	Shares Under Option		Weighted Average Exercise Price Per Share
Outstanding on December 31, 2012	26,124,759		$	72.19
Granted	7,566,031		67.77
Exercised	(9,079,434	)	65.55
Forfeited/cancelled	(6,973,245	)	81.62
Outstanding on December 31, 2013	17,638,111		$	69.99
Vested and expected to vest on December 31, 2013	17,314,425		$	70.03
Exercisable on December 31, 2013	7,550,972		$	71.85

Summary information with respect to our stock options’ intrinsic value and remaining contractual term on December 31, 2013, follows:



	Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding	4.8	$	451
Vested and expected to vest	4.8	441
Exercisable	3.4	179

A summary of restricted stock and RSU activity during 2013 follows:



	Shares/ Share-Equivalent Units		Weighted Average Grant-Date Fair Value Per Share
Nonvested at December 31, 2012	2,493,449		$	61.23
Granted	1,000,541		67.99
Vested	(903,731	)	40.46
Forfeited	(82,862	)	70.33
Nonvested at December 31, 2013	2,507,397		$	71.11