STOCK-BASED COMPENSATION PLANS (Tables)
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12 Months Ended |
Dec. 31, 2014
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Stock Based Compensation Plans [Abstract] |
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Share based compensation fair value assumptions |
| | | Years Ended December 31, | | | | | 2014 | | | 2013 | | | 2012 | | | Weighted average fair value per share of options | | | | | | | | | | | granted during the year(1) | $ | 16.35 | | $ | 11.85 | | $ | 13.26 | | | Assumptions: | | | | | | | | | | | Expected annual dividend yield | | 2.05 | % | | 2.55 | % | | 2.57 | % | | Expected volatility | | 23.06 | % | | 24.73 | % | | 30.36 | % | | Risk-free rate of return | | 1.48 | % | | 0.91 | % | | 1.16 | % | | Expected option term (years) | | 5.0 | | | 5.5 | | | 5.8 | | | | | | | | | | | | | | (1) Estimated on date of grant using Black-Scholes option-pricing model. | | | | | |
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Stock Options Activity |
| | | | | | Weighted | | | | | | | | Average | | | | | Number of | | | Exercise | | | | | Options | | | Price | | | Outstanding at December 31, 2011 | | 38,916,370 | | | $ | 43.01 | | | Granted | | 5,788,734 | | | | 59.86 | | | Exercised | | (8,347,313) | | | | 36.52 | | | Lapsed or canceled | | (788,770) | | | | 49.76 | | | Outstanding at December 31, 2012 | | 35,569,021 | | | | 47.13 | | | Granted | | 6,041,422 | | | | 69.89 | | | Exercised | | (10,329,611) | | | | 41.91 | | | Lapsed or canceled | | (616,995) | | | | 53.84 | | | Outstanding at December 31, 2013 | | 30,663,837 | | | | 53.27 | | | Granted | | 5,823,706 | | | | 93.95 | | | Exercised | | (5,697,263) | | | | 47.47 | | | Lapsed or canceled | | (1,294,668) | | | | 67.70 | | | Outstanding at December 31, 2014 | | 29,495,612 | | | $ | 61.80 | | | Vested and expected to vest at December 31, 2014(1) | | 28,015,623 | | | $ | 60.44 | | | Exercisable at December 31, 2014 | | 16,019,742 | | | $ | 49.40 | | | | | | | | | | | | (1) Represents the sum of vested options of 16.0 million and expected to vest options of 12.0 million. Expected to vest options are derived by applying the pre-vesting forfeiture rate assumption to total outstanding unvested options of 28.0 million. | |
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Schedule of share based compensation by price ranges |
| | Options Outstanding | | Options Exercisable | | | | | Weighted | | | | | Weighted | | | | | | Weighted | Average | Aggregate | | | | Average | Aggregate | Range of | | Number | Average | Exercise | Intrinsic | | Number | | Exercise | Intrinsic | Exercise prices | | Outstanding | Life(1) | Price | Value | | Exercisable | | Price | Value | $28.35-$39.99 | | 2,029,342 | 3.71 | | $ | 29.46 | $ | 143 | | | 2,029,342 | | $ | 29.46 | $ | 143 | $40.00-$49.99 | | 5,971,196 | 3.86 | | | 42.00 | | 346 | | | 5,968,696 | | | 42.00 | | 346 | $50.00-$59.99 | | 10,710,421 | 6.07 | | | 58.36 | | 445 | | | 6,777,404 | | | 58.12 | | 283 | $60.00-$74.99 | | 5,202,747 | 8.10 | | | 69.72 | | 157 | | | 1,214,300 | | | 69.27 | | 37 | $75.00-$95.00 | | 5,581,906 | 9.16 | | | 93.95 | | 33 | | | 30,000 | | | 93.97 | | - | | | 29,495,612 | 6.40 | | | 61.80 | $ | 1,124 | | | 16,019,742 | | | 49.40 | $ | 809 | | | | | | | | | | | | | | | | | | (1) Average remaining contractual life in years. | | | | | | | | | | | | | |
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Financial Statement Impact From Stock Options Exercised |
| | | Years Ended December 31, | | | Options Exercised | | 2014 | | | 2013 | | | 2012 | | | Intrinsic value(1) | $ | 272 | | $ | 367 | | $ | 202 | | | Tax benefit realized | | 96 | | | 129 | | | 74 | | | Operating cash inflow | | 172 | | | 333 | | | 249 | | | Financing cash inflow | | 77 | | | 99 | | | 56 | | | Total cash received | | 249 | | | 432 | | | 305 | | | | | | | | | | | | | | (1) Represents the amount by which the stock price exceeded the exercise price of the options on the
date of exercise. |
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Restricted stock units activity |
| | | | | Weighted | | | | | | | Average | | | | | Number of | | Grant Date | | | | | Restricted | | Fair Value | | | | | Stock Units | | Per Share | | | Non-vested at December 31, 2011 | | 9,746,433 | | $ | 41.35 | | | Granted | | 2,156,753 | | | 59.52 | | | Vested | | (3,380,251) | | | 31.84 | | | Forfeited | | (427,196) | | | 45.78 | | | Non-vested at December 31, 2012 | | 8,095,739 | | | 49.91 | | | Granted | | 1,904,504 | | | 75.73 | | | Vested | | (2,995,553) | | | 42.17 | | | Forfeited | | (312,470) | | | 56.58 | | | Non-vested at December 31, 2013 | | 6,692,220 | | | 60.04 | | | Granted | | 1,455,209 | | | 94.88 | | | Vested | | (1,787,894) | | | 53.63 | | | Forfeited | | (460,341) | | | 63.54 | | | Non-vested at December 31, 2014 | | 5,899,194 | | $ | 70.32 | |
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Income Statement Impact from RSUs |
| | | | Years Ended December 31, | | | | | | 2014 | | | 2013 | | | 2012 | | | Compensation expense | | $ | 102 | | $ | 100 | | $ | 105 | | | Future income tax benefit recognized | | | 37 | | | 35 | | | 37 | |
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