EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Stock-Based Compensation Expense

The compensation expense that has been charged against income for these plans was as follows for the years ended December 31,2015, 2014, and 2013:

	2015			2014			2013
	(in millions)
Stock-based compensation expense by type:
Restricted stock	$	99		$	91		$	84
Stock options	10			7			8
Total stock-based compensation expense	109			98			92
Tax benefit recognized	(26		)	(22		)	(22		)
Stock-based compensation expense, net of tax	$	83		$	76		$	70

Activity for Restricted Stock Awards

Activity for our restricted stock was as follows for the year ended December 31, 2015:

	Shares		Weighted- Average Grant-Date Fair Value
	(shares in thousands)
Nonvested restricted stock at December 31, 2014	3,635		$	85.52
Granted	837		165.26
Vested	(919	)	84.95
Forfeited	(188	)	98.92
Nonvested restricted stock at December 31, 2015	3,365		$	104.58

Weighted-Average Fair Value of Stock Options

The fair value was estimated on the date of grant using the Black-Scholes pricing model with the weighted-average assumptions indicated below:

	2015			2014			2013
Weighted-average fair value at grant date	$	36.91		$	22.45		$	21.80
Expected option life (years)	4.2 years			4.3 years			4.4 years
Expected volatility	27.4		%	27.6		%	38.8		%
Risk-free interest rate at grant date	1.4		%	1.3		%	0.8		%
Dividend yield	0.7		%	1.1		%	1.5		%

Activity for Option Plans

Activity for our option plans was as follows for the year ended December 31, 2015:

	Shares  Under Option		Weighted-Average Exercise Price
	(shares in thousands)
Options outstanding at December 31, 2014	768		$	82.45
Granted	377		164.80
Exercised	(304	)	76.25
Forfeited	(6	)	83.58
Options outstanding at December 31, 2015	835		$	121.89
Options exercisable at December 31, 2015	203		$	78.30