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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2012
Stock-Based Compensation [Abstract]  
Pre-tax compensation expense and related income tax benefit for stock-based incentives
                                 
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2012     2011     2012     2011  

Long-term stock awards

  $ 11     $ 9     $ 19     $ 19  

Stock options

    4       6       9       11  

Phantom stock awards and stock appreciation rights

    1       (1     6       2  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total

  $ 16     $ 14     $ 34     $ 32  
   

 

 

   

 

 

   

 

 

   

 

 

 

Income tax benefit (before valuation allowance)

  $ 6     $ 5     $ 13     $ 12  
   

 

 

   

 

 

   

 

 

   

 

 

 
Company's long-term stock award activity
                 
    Six Months Ended
June  30,
 
    2012     2011  

Unvested stock award shares at January 1

    10       10  

Weighted average grant date fair value

  $ 17     $ 19  
     

Stock award shares granted

    1       2  

Weighted average grant date fair value

  $ 12     $ 13  
     

Stock award shares vested

    2       1  

Weighted average grant date fair value

  $ 17     $ 19  
     

Stock award shares forfeited

    —         —    

Weighted average grant date fair value

  $ 18     $ 18  
     

Unvested stock award shares at June 30

    9       11  

Weighted average grant date fair value

  $ 16     $ 17  
Company's stock option activity
                 
    Six Months Ended  
    June 30,  
    2012     2011  

Option shares outstanding, January 1

    36       37  

Weighted average exercise price

  $ 21     $ 21  
     

Option shares granted, including restoration options

    1       2  

Weighted average exercise price

  $ 12     $ 13  
     

Option shares exercised

    —         —    

Aggregate intrinsic value on date of exercise (A)

  $ 1 million     $ 1 million  

Weighted average exercise price

  $ 9     $ 8  
     

Option shares forfeited

    3       2  

Weighted average exercise price

  $ 19     $ 22  
     

Option shares outstanding, June 30

    34       37  

Weighted average exercise price

  $ 21     $ 21  

Weighted average remaining option term (in years)

    5       6  
     

Option shares vested and expected to vest, June 30

    34       37  

Weighted average exercise price

  $ 21     $ 21  

Aggregate intrinsic value (A)

  $ 29 million     $ 20 million  

Weighted average remaining option term (in years)

    5       6  
     

Option shares exercisable (vested), June 30

    26       24  

Weighted average exercise price

  $ 24     $ 24  

Aggregate intrinsic value (A)

  $ 15 million     $ 8 million  

Weighted average remaining option term (in years)

    4       5  

 

(A) Aggregate intrinsic value is calculated using the Company’s stock price at each respective date, less the exercise price (grant date price) multiplied by the number of shares.
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
                 
    Six Months Ended  
    June 30,  
    2012     2011  

Weighted average grant date fair value

  $ 4.44     $ 5.10  

Risk-free interest rate

    1.10     2.72

Dividend yield

    2.57     2.34

Volatility factor

    51.00     49.00

Expected option life

    6 years       6 years