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STOCK COMPENSATION PLAN (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Compensation Costs
The following table summarizes our compensation costs:  
For the years ended December 31,
 
2013
 
2012
 
2011
In millions of dollars
 
 
 
 
 
 
 
 
 
 
 
 
 
Total compensation amount charged against income for stock compensation plans, including stock options, performance stock units and restricted stock units
 
$
54.0

 
$
50.5

 
$
43.5

Total income tax benefit recognized in Consolidated Statements of Income for share-based compensation
 
$
18.5

 
$
17.5

 
$
15.1

Compensation Amount Charged Against Income For Stock Options
The following table summarizes our compensation costs for stock options:
For the years ended December 31,
 
2013
 
2012
 
2011
In millions of dollars
 
 
 
 
 
 
 
 
 
 
 
 
 
Compensation amount charged against income for stock options
 
$
21.4

 
$
19.3

 
$
22.5

Schedule of Share-based Compensation, Stock Options, Activity
A summary of the status of our Company’s stock options and changes during the last three years follows:
 
 
2013
 
2012
 
2011
Stock Options
 
Shares
 
Weighted-
Average
Exercise
Price
 
Shares
 
Weighted-
Average
Exercise
Price
 
Shares
 
Weighted-
Average
Exercise
Price
Outstanding at beginning of year
 
10,553,914

 
$48.08
 
14,540,442

 
$44.86
 
17,997,082

 
$42.21
Granted
 
1,779,109

 
$81.95
 
2,110,945

 
$60.89
 
2,191,627

 
$51.62
Exercised
 
(3,315,990
)
 
$45.25
 
(5,870,607
)
 
$44.55
 
(4,875,122
)
 
$38.30
Forfeited
 
(356,697
)
 
$64.38
 
(226,866
)
 
$52.02
 
(773,145
)
 
$43.90
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at end of year
 
8,660,336

 
$55.47
 
10,553,914

 
$48.08
 
14,540,442

 
$44.86
 
 
 
 
 
 
 
 
 
 
 
 
 
Options exercisable at year-end
 
4,290,416

 
$46.45
 
5,320,775

 
$45.74
 
8,453,362

 
$46.95
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average fair value of options granted during the year (per share)
 
$
14.51

 
 
 
$
10.60

 
 
 
$
9.97

 
 
Fair Value of Each Stock Option Grant
The following table sets forth information about the weighted-average fair value of options granted to employees during each year using the Black-Scholes option-pricing model and the weighted-average assumptions used for such grants:  
For the years ended December 31,
 
2013
 
2012
 
2011
Dividend yields
 
2.2
%
 
2.4
%
 
2.7
%
Expected volatility
 
22.2
%
 
22.4
%
 
22.5
%
Risk-free interest rates
 
1.4
%
 
1.5
%
 
2.8
%
Expected lives in years
 
6.6

 
6.6

 
6.5

Intrinsic Value Of Options Exercised
The following table summarizes the intrinsic value of our stock options:
For the years ended December 31,
 
2013
 
2012
 
2011
In millions of dollars
 
 
 
 
 
 
 
 
 
 
 
 
 
Intrinsic value of options exercised
 
$
135.4

 
$
130.2

 
$
81.3

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range
The following table summarizes information about stock options outstanding as of December 31, 2013:  
 
 
Options Outstanding
 
Options Exercisable
Range of Exercise Prices
 
Number
Outstanding as
of 12/31/13
 
Weighted-
Average
Remaining
Contractual
Life in Years 
 
Weighted-
Average
Exercise Price  
 
Number
Exercisable as of
12/31/13
 
Weighted-
Average
Exercise Price 
$33.40 - $39.26
 
2,514,127

 
5.0
 
$
37.19

 
2,000,140

 
$
36.66

$39.57 - $60.10
 
2,503,703

 
5.1
 
$
51.94

 
1,595,372

 
$
52.14

$60.68 - $91.65
 
3,642,506

 
7.9
 
$
70.51

 
694,904

 
$
61.58

 
 
 
 
 
 
 
 
 
 
 
$33.40 - $91.65
 
8,660,336

 
6.3
 
$
55.47

 
4,290,416

 
$
46.45

Compensation Amount Charged Against Income For Performance And Restricted Stock Units
For the years ended December 31,
 
2013
 
2012
 
2011
In millions of dollars
 
 
 
 
 
 
 
 
 
 
 
 
 
Compensation amount charged against income for performance and restricted stock units
 
$
32.6

 
$
31.2

 
$
21.0

Schedule Of Share Based Payment Award Market Based Total Shareholder Return Valuation Assumptions
The following table sets forth information about the fair value of the PSUs and RSUs granted for potential future distribution to employees and directors during the year. In addition, the table provides assumptions used to determine fair value of the market-based total shareholder return component using the Monte Carlo simulation model on the date of grant.
For the years ended December 31,
 
2013
 
2012
 
2011
Units granted
 
395,862

 
503,761

 
543,596

Weighted-average fair value at date of grant
 
$
88.49

 
$
64.99

 
$
58.28

Monte Carlo simulation assumptions:
 
 
 
 
 
 
Estimated values
 
$
55.49

 
$
35.62

 
$
37.79

Dividend yields
 
2.0
%
 
2.5
%
 
2.7
%
Expected volatility
 
17.1
%
 
20.0
%
 
28.8
%
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
A summary of the status of our Company’s performance stock units and restricted stock units as of December 31, 2013 and the change during 2013 follows:
Performance Stock Units and Restricted Stock Units
 
2013
 
Weighted-average grant date fair value
for equity awards or market value for
liability awards
Outstanding at beginning of year
 
1,720,577

 
$56.71
Granted
 
395,862

 
$88.49
Performance assumption change
 
176,534

 
$84.27
Vested
 
(754,991
)
 
$50.33
Forfeited
 
(126,583
)
 
$71.80
 
 
 
 
 
Outstanding at end of year
 
1,411,399

 
$72.43
Share Based Compensation Arrangement By Share Based Payment Award Intrinsic Value Of Share Based Liabilities Paid Combined With Fair Value Of Shares Vested
For the years ended December 31,
 
2013
 
2012
 
2011
In millions of dollars
 
 
 
 
 
 
 
 
 
 
 
 
 
Intrinsic value of share-based liabilities paid, combined with the fair value of shares vested
 
$
62.6

 
$
37.3

 
$
36.6