STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2014

STOCK-BASED COMPENSATION

Schedule of pre-tax compensation expense and the related income tax benefit for these stock-based incentives

        Pre-tax compensation expense and the related income tax benefit for these stock-based incentives were as follows, in millions:

	2014		2013		2012
Long-term stock awards	$	37	$	34	$	35
Stock options		4		13		15
Phantom stock awards and stock appreciation rights		6		7		11
Total	$	47	$	54	$	61
Income tax benefit (37 percent tax rate)	$	17	$	20	$	23

Schedule of the Company's long-term stock award activity

        Our long-term stock award activity was as follows, shares in millions:

	2014		2013		2012
Unvested stock award shares at January 1		8		8		10
Weighted average grant date fair value	$	17	$	16	$	17
Stock award shares granted		1		2		1
Weighted average grant date fair value	$	22	$	20	$	12
Stock award shares vested		2		2		2
Weighted average grant date fair value	$	17	$	17	$	18
Stock award shares forfeited		1		—		1
Weighted average grant date fair value	$	19	$	16	$	17
Unvested stock award shares at December 31		6		8		8
Weighted average grant date fair value	$	18	$	17	$	16

Schedule of the Company's stock option activity

        Our stock option activity was as follows, shares in millions:

	2014		2013		2012
Option shares outstanding, January 1		24		30		36
Weighted average exercise price	$	22	$	21	$	21
Option shares granted		—		1		1
Weighted average exercise price	$	22	$	20	$	12
Option shares exercised		2		3		1
Aggregate intrinsic value on date of exercise (A)	$	22 million	$	23 million	$	5 million
Weighted average exercise price	$	16	$	12	$	10
Option shares forfeited		4		4		6
Weighted average exercise price	$	28	$	26	$	19
Option shares outstanding, December 31		18		24		30
Weighted average exercise price	$	21	$	22	$	21
Weighted average remaining option term (in years)		4		4		5
Option shares vested and expected to vest, December 31		18		24		30
Weighted average exercise price	$	21	$	22	$	21
Aggregate intrinsic value (A)	$	110 million	$	109 million	$	55 million
Weighted average remaining option term (in years)		4		4		5
Option shares exercisable (vested), December 31		15		20		23
Weighted average exercise price	$	22	$	24	$	24
Aggregate intrinsic value (A)	$	84 million	$	62 million	$	22 million
Weighted average remaining option term (in years)		3		3		4

(A) Aggregate intrinsic value is calculated using our stock price at each respective date, less the exercise price (grant date price) multiplied by the number of shares.

Schedule of weighted average grant date fair value of option shares granted and the assumptions used to estimate those values using a Black-Scholes option pricing model

	2014			2013			2012
Weighted average grant date fair value	$	9.53		$	8.35		$	4.44
Risk-free interest rate		1.91	%		1.22	%		1.09	%
Dividend yield		1.34	%		1.47	%		2.57	%
Volatility factor		49.00	%		49.07	%		50.97	%
Expected option life		6 years			6 years			6 years

Summary of stock option shares outstanding and exercisable

        The following table summarizes information for stock option shares outstanding and exercisable at December 31, 2014, shares in millions:

Option Shares Outstanding							Option Shares Exercisable
Range of Prices		Number of Shares		Weighted Average Remaining Option Term	Weighted Average Exercise Price		Number of Shares		Weighted Average Exercise Price
$	8 - 21		10	5 Years	$	14		7	$	14
$	22 - 28		3	2 Years	$	26		3	$	27
$	29 - 31		5	1 Years	$	31		5	$	31
$	33 - 34		—	1 Years	$	33		—	$	33
$	8 - 34		18	4 Years	$	21		15	$	22

Schedule of phantom stock awards and SARs

        Information related to phantom stock awards and SARs was as follows, in millions:

	Phantom Stock Awards				Stock Appreciation Rights
	At December 31,				At December 31,
	2014		2013		2014		2013
Accrued compensation cost liability	$	13	$	14	$	7	$	8
Unrecognized compensation cost	$	4	$	4	$	—	$	—
Equivalent common shares		1		1		1		2