XML 1100 R53.htm IDEA: XBRL DOCUMENT v2.4.1.9
Stock-Based Incentive Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2014
Notes to Financial Statements [Abstract]  
Total compensation expense for all stock-based incentive compensation plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

2014

 

2013

 

2012

 

Stock options

$

 

$

 

$

 

Performance shares

 

12 

 

 

10 

 

 

 

SARs

 

 

 

 

 

 

RSUs and nonvested stock

 

15 

 

 

16 

 

 

17 

 

Total

$

38 

 

$

40 

 

$

31 

 

 

 

 

 

 

 

 

 

 

 

Recognized tax benefit

$

13 

 

$

14 

 

$

11 

 

 

Total unrecognized compensation expense for all stock-based incentive compensation plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

2014

 

2013

 

2012

 

 

 

 

Weighted-

 

 

 

Weighted-

 

 

 

Weighted-

 

 

 

 

Average

 

 

 

Average

 

 

 

Average

 

 

Expense

 

Period

 

Expense

 

Period

 

Expense

 

Period

 

Stock options

$

 

1.5 

 

$

 

1.9 

 

$

 

1.8 

 

Performance shares

 

 

1.5 

 

 

 

1.5 

 

 

 

1.6 

 

SARs

 

 

3.2 

 

 

 

3.4 

 

 

 

3.3 

 

RSUs and nonvested stock

 

21 

 

1.0 

 

 

18 

 

1.2 

 

 

20 

 

1.3 

 

Total unrecognized stock-based

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

incentive compensation expense

$

41 

 

 

 

$

39 

 

 

 

$

36 

 

 

 

 

Option price assumptions used for stock option incentive plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

2014

 

2013

 

2012

 

Weighted-average fair value per option granted

$

12.95 

 

$

7.39 

 

$

8.35 

 

Assumptions:

 

 

 

 

 

 

 

 

 

Dividend yield

 

2.2% 

 

 

2.4% 

 

 

1.9% 

 

Expected volatility

 

33.2% 

 

 

34.1% 

 

 

42.0% 

 

Risk-free interest rate

 

0.9-1.8%

 

 

0.6-0.9%

 

 

0.9-1.2%

 

Expected life (in years)

 

5.4 

 

 

5.6 

 

 

5.8 

 

 

Summary of activity for stock options with performance conditions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Weighted-

 

Average

 

 

 

 

 

 

Average

Remaining

Aggregate

 

 

 

 

Exercise

Contractual

Intrinsic

 

 

Shares

 

Price

 

Term

 

Value

 

Outstanding as of December 31, 2013

1,176,974

 

$

45.84

 

 

 

 

 

 

Granted – original

88,311

 

 

50.37

 

 

 

 

 

 

Exercised (includes shares tendered)

(133,044

)

 

34.14

 

 

 

 

 

 

Forfeited or expired

(60,494

)

 

40.46

 

 

 

 

 

 

Outstanding as of December 31, 2014

1,071,747

 

$

47.93

 

2.96

 

$

10

 

 

 

 

 

 

 

 

 

 

 

 

Vested or expected to vest as of December 31, 2014 (1)

1,016,926

 

$

48.31

 

2.93

 

$

10

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable as of December 31, 2014

962,105

 

$

48.73

 

2.90

 

$

9

 

 

(1)

Includes estimated forfeitures.

Summary of activity for stock options with service conditions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Weighted-

 

Average

 

 

 

 

 

 

Average

Remaining

Aggregate

 

 

 

 

Exercise

Contractual

Intrinsic

 

 

Shares

 

Price

 

Term

 

Value

 

Outstanding as of December 31, 2013

4,928,353

 

$

38.18

 

 

 

 

 

 

Granted – original

490,852

 

 

50.80

 

 

 

 

 

 

Exercised (includes shares tendered)

(1,333,102

)

 

39.97

 

 

 

 

 

 

Forfeited or expired

(162,410

)

 

47.26

 

 

 

 

 

 

Outstanding as of December 31, 2014

3,923,693

 

$

38.65

 

5.87

 

$

79

 

 

 

 

 

 

 

 

 

 

 

 

Vested or expected to vest as of December 31, 2014 (1)

3,642,758

 

$

39.03

 

5.69

 

$

72

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable as of December 31, 2014

2,571,235

 

$

39.99

 

4.57

 

$

49

 

 

(1)

Includes estimated forfeitures.

Summary of activity for performance shares

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

Grant-Date

 

 

Shares

 

 

Fair Value

 

 

Nonvested as of December 31, 2013

710,692

 

 

$

32.74

 

 

Granted

182,149

 

 

 

54.68

 

 

Vested

(180,307

)

 

 

36.33

 

 

Forfeited

(10,108

)

 

 

37.74

 

 

Nonvested as of December 31, 2014

702,426

 

 

$

37.36

 

 

 

Option price assumptions used for stock appreciation rights plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Years Ended December 31,

 

 

2014

 

2013

 

2012

 

Weighted-average fair value per SAR granted

$

13.64 

 

$

7.47 

 

$

8.91 

 

Assumptions:

 

 

 

 

 

 

 

 

 

Dividend yield

 

1.5% 

 

 

2.2% 

 

 

1.4% 

 

Expected volatility

 

32.7% 

 

 

30.5% 

 

 

40.7% 

 

Risk-free interest rate

 

1.7% 

 

 

1.0% 

 

 

1.3% 

 

Expected life (in years)

 

5.0 

 

 

5.0 

 

 

5.0 

 

 

Summary of activity for stock appreciation rights plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Weighted-

 

Average

 

 

 

 

 

 

Average

Remaining

Aggregate

 

 

 

 

Exercise

Contractual

Intrinsic

 

 

Shares

 

Price

 

Term

 

Value

 

Outstanding as of December 31, 2013

354,043

 

$

29.00

 

 

 

 

 

 

Granted – original

62,887

 

 

50.41

 

 

 

 

 

 

Exercised (includes shares tendered)

(93,532

)

 

24.86

 

 

 

 

 

 

Forfeited or expired

(15,439

)

 

35.82

 

 

 

 

 

 

Outstanding as of December 31, 2014

307,959

 

$

34.28

 

2.53

 

$

7

 

 

 

 

 

 

 

 

 

 

 

 

Vested or expected to vest as of December 31, 2014 (1)

292,889

 

$

34.20

 

2.50

 

$

7

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable as of December 31, 2014

171,114

 

$

31.28

 

1.89

 

$

5

 

 

(1)

Includes estimated forfeitures.

Summary of activity for restricted stock units

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

Grant-Date

 

 

Shares

 

 

Fair Value

 

 

Outstanding as of December 31, 2013

1,630,407

 

 

$

28.24

 

 

Granted

462,231

 

 

 

50.95

 

 

Vested

(464,572

)

 

 

29.74

 

 

Forfeited

(100,391

)

 

 

33.43

 

 

Outstanding as of December 31, 2014

1,527,675

 

 

$

34.30