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SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2011
Schedule of Expense Recognized in Connection with Share Based Awards

The following table presents the expense recognized in connection with share-based awards for the periods ended December 31.

 

(In millions, except for per-share amounts)    2011        2010        2009  

Earnings from continuing operations

   $ 39         $ 39         $ 38   

Earnings before income taxes

     39           39           38   

Net earnings

     27           27           27   
                                

Net earnings per share:

            

Basic

   $ .06         $ .06         $ .06   

Diluted

     .06           .06           .06   
                                
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table presents the assumptions used in valuing options granted during the years ended December 31.

 

      2011        2010        2009  

Expected term (years)

     6.9           6.9           6.6   

Expected volatility

     30.0        36.0        32.0

Annual forfeiture rate

     1.6           1.8           1.6   

Risk-free interest rate

     3.4           3.1           3.2   

Dividend yield

     1.3           1.3           1.3   
                                
Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes stock option activity.

 

(In thousands of shares)      Stock
Option
Shares
       Weighted-Average
Exercise Price
Per Share
 

Outstanding at December 31, 2008

       16,336         $ 37.95   

Granted in 2009

       2,220           26.74   

Canceled in 2009

       (161        35.62   

Exercised in 2009

       (1,978        26.13   
                       

Outstanding at December 31, 2009

       16,417           37.89   

Granted in 2010

       1,342           48.41   

Canceled in 2010

       (187        36.77   

Exercised in 2010

       (3,066        27.55   
                       

Outstanding at December 31, 2010

       14,506           41.06   

Granted in 2011

       1,216           52.32   

Canceled in 2011

       (151        41.43   

Exercised in 2011

       (1,008        30.00   
                       

Outstanding at December 31, 2011

       14,563         $ 42.76   
                       
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable
(In thousands of shares)    2011        2010        2009  

Shares exercisable, end of year

     11,246           10,720           12,523   
                                
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding and exercisable at December 31, 2011.

 

(In thousands of shares)      Options Outstanding        Options Exercisable  

Range of
Exercise Prices

Per Share

     Stock Option
Shares
Outstanding
       Wgtd.-Avg.
Remaining
Contractual
Life (Yrs.)
       Wgtd.-Avg.
Exercise
Price
Per Share
       Stock Option
Shares
Exercisable
       Wgtd.-Avg.
Exercise
Price
Per Share
 

$14.99 - $31.71    

       3,125           3.9           $27.25           1,959           $30.33   

31.73 -   40.43  

       3,549           3.6           39.44           3,212           39.55   

40.61 -   47.06  

       3,200           5.8           44.69           2,371           44.12   

47.23 -   57.90  

       3,476           6.4           51.59           2,491           49.51   

61.81 -   67.67  

       1,213           6.1           62.08           1,213           62.08   
                                                        

$14.99 - $67.67    

       14,563           5.0           $42.76           11,246           $43.54   
                                                        
Schedule of Cash Proceeds Received from Share-based Payment Awards

The following table summarizes stock option activity during the years ended December 31.

 

(In millions)    2011        2010        2009  

Total intrinsic value of options exercised

   $ 23         $ 68         $ 34   

Cash received from options exercised

     18           73           22   

Tax benefit realized as a result of options exercised and
restricted stock releases

     14           30           15   
                                
Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes restricted stock activity during the years ended December 31.

 

(In thousands of shares)      Shares       

Weighted-Average
Grant-Date

Fair Value

Per Share

 

Restricted stock at December 31, 2008

       997         $ 51.68   

Granted in 2009

       579           23.79   

Canceled in 2009

       (15        39.97   

Vested in 2009

       (342        47.30   
                       

Restricted stock at December 31, 2009

       1,219           39.81   

Granted in 2010

       468           47.53   

Canceled in 2010

       (41        41.31   

Vested in 2010

       (372        47.80   
                       

Restricted stock at December 31, 2010

       1,274           40.26   

Granted in 2011

       405           56.22   

Canceled in 2011

       (35        42.44   

Vested in 2011

       (294        59.02   
                       

Restricted Stock at December 31, 2011

       1,350         $ 40.92