Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

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, 2012, 2011, and 2010:

	2012			2011			2010
	(in millions)
Stock-based compensation expense by type:
Stock options	$	16		$	16		$	22
Restricted stock		66			51			41
Total stock-based compensation expense		82			67			63
Tax benefit recognized		(30	)		(25	)		(23	)
Stock-based compensation expense, net of tax	$	52		$	42		$	40

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:

	2012			2011			2010
Weighted-average fair value at grant date	$	30.15		$	28.29		$	19.58
Expected option life (years)		4.4			4.8			5.2
Expected volatility		46.3	%		46.8	%		43.8	%
Risk-free interest rate at grant date		0.8	%		1.7	%		2.7	%
Dividend yield (1)		1.2	%		0.5	%		None

(1) As discussed in Note 14, in April 2011, our Board of Directors approved the initiation of a quarterly cash dividend policy.

Activity for Option Plans

Activity for our option plans was as follows for the year ended December 31, 2012:

	Shares Under Option			Weighted-Average Exercise Price
	(shares in thousands)
Options outstanding at December 31, 2011		3,144		$	53.60
Granted		384			85.84
Exercised		(1,227	)		48.93
Cancelled		(9	)		70.24
Forfeited		(59	)		51.98
Options outstanding at December 31, 2012		2,233		$	61.68
Options exercisable at December 31, 2012		1,189		$	57.12

Activity for Restricted Stock Awards

Activity for our restricted stock was as follows for the year ended December 31, 2012:

	Shares			Weighted- Average Grant-Date Fair Value
	(shares in thousands)
Nonvested restricted stock at December 31, 2011		2,916		$	53.93
Granted		1,002			85.29
Vested		(861	)		43.70
Forfeited		(103	)		63.89
Nonvested restricted stock at December 31, 2012		2,954		$	67.29