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Stock-Based Incentive Plan (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity
The following table summarizes stock option activity:
 
 
Number of Shares
Under Option
 
Weighted
Average
Exercise Price
per Share
Outstanding at December 31, 2010
23,840,049

 
$
15.99

Options granted
4,943,178

 
22.40

Options exercised
(4,514,170
)
 
15.09

Options forfeited
(669,801
)
 
19.05

Outstanding at December 31, 2011
23,599,256

 
$
17.42

Options granted
3,130,843

 
23.37

Options exercised
(9,360,396
)
 
15.40

Options forfeited
(753,086
)
 
20.24

Outstanding at December 31, 2012
16,616,617

 
$
19.54

Options granted
2,182,035

 
32.92

Options exercised
(4,367,871
)
 
17.80

Options forfeited
(866,900
)
 
23.12

Outstanding at December 31, 2013
13,563,881

 
$
22.05

Vested and expected to vest at December 31, 2013
12,769,967

 
$
21.80

Options exercisable at December 31, 2013
8,005,682

 
$
18.82


Status of Company's Nonvested Restricted Stock and Restricted Stock Unit Awards and Changes
A summary of the status of the Company’s nonvested restricted stock and restricted stock unit awards, including performance based restricted stock, as of December 31, 2013 and the changes during the year ended December 31, 2013 are presented below:
 
 
Number of Restricted
Stock Awards
 
Weighted  Average
Grant-Date
Fair Value Per Share
Nonvested at December 31, 2012
2,498,316

 
$
22.47

Granted
1,862,236

 
30.98

Released
(819,797
)
 
21.81

Forfeited
(218,919
)
 
26.78

Nonvested at December 31, 2013
3,321,836

 
$
27.13


Stock-Based Compensation Plans, Valuation Assumptions

The assumptions used are as follows:
 
Year Ended December 31,
 
2013
 
2012
 
2011
Volatility
23.9%
 
29.7%
 
33.0%
Risk-free interest rate
1.1%
 
1.0%
 
2.4%
Expected term of options (years)
6.1
 
5.9
 
6.0
Forfeiture rate
5.5%
 
5.5%
 
5.5%
Weighted average grant date fair value per option
$8.49
 
$7.00
 
$8.13