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Stock-Based Compensation Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-based Compensation
The following table summarizes the Company’s stock-based compensation expense for the years ended December 31, 2015, 2014 and 2013.
Year Ended December 31,
2015
 
2014
 
2013
RSUs
$
143

 
$
131

 
$
129

Stock options
31

 
23

 
93

Stock-based compensation expense, before income taxes
174

 
154

 
222

Related tax benefit
(67
)
 
(60
)
 
(86
)
Stock-based compensation expense, net of tax benefit
$
107

 
$
94

 
$
136

 
Rollforward of RSU Activity
The following table summarizes the Company’s RSU activity.
 
 
 
 
 
Weighted Average
 
RSUs
 
Grant Date Fair Value
Non-vested at December 31, 2014
 
6,700,094

 
 
 
$
45.26

 
Granted
 
2,994,745

 
 
 
$
59.11

 
Vested
 
(3,579,992
)
 
 
 
$
40.50

 
Forfeited
 
(369,767
)
 
 
 
$
53.94

 
Non-vested at December 31, 2015
 
5,745,080

 
 
 
$
54.88

 
Weighted Average Assumptions for Black-Scholes Option Pricing Model
The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:
 
2015
 
2014
 
2013
Expected dividend yield
1.25
%
 
1.25
%
 
1.49
%
Expected stock price volatility
31.45
%
 
33.06
%
 
34.86
%
Risk-free interest rate
1.63
%
 
1.60
%
 
.97
%
Expected term of options (years)
5.00

 
5.00

 
5.00
Rollforward of Stock Option Activity
The following table summarizes the Company’s stock option activity under the Plans.
 
 
 
 
 
Weighted Average
 
Stock Options
 
Exercise Price
Outstanding at December 31, 2014
 
15,634,317

 
 
 
$
33.12

 
Granted
 
1,885,683

 
 
 
$
59.41

 
Exercised
 
(5,723,239
)
 
 
 
$
24.88

 
Forfeited or expired
 
(491,726
)
 
 
 
$
31.60

 
Outstanding at December 31, 2015
 
11,305,035

 
 
 
$
41.75

 
Exercisable at December 31, 2015
 
6,199,611

 
 
 
$
31.40

 
Stock Option Exercise Information
The following table summarizes other information relating to stock option exercises during the years ended December 31, 2015, 2014 and 2013.
Year Ended December 31, 
2015
 
2014
 
2013
Cash received from stock option exercises
$
142

 
$
283

 
$
146

Tax benefit of stock option exercises
$
74

 
$
200

 
$
88

Intrinsic value of stock option exercises
$
192

 
$
517

 
$
229
Stock Options Outstanding and Exercisable by Price
The following table summarizes information concerning outstanding and exercisable stock options to purchase CBS Corp. Class B Common Stock under the Plans at December 31, 2015.
 
Outstanding
 
Exercisable
 
 
 
Remaining
 
Weighted
 
 
 
Weighted
Range of
Number
 
Contractual
 
Average
 
Number
 
Average
Exercise Price
of Options
 
Life (Years)
 
Exercise Price
 
of Options
 
Exercise Price
$5 to 9.99
676,135

 
1.24
 
 
$
5.25

 
 
676,135

 
 
$
5.25

 
$10 to 19.99
488,744

 
2.42
 
 
$
14.10

 
 
488,744

 
 
$
14.10

 
$20 to 29.99
2,744,846

 
3.86
 
 
$
27.83

 
 
2,322,791

 
 
$
27.54

 
$30 to 39.99
1,339,775

 
4.69
 
 
$
34.08

 
 
1,168,110

 
 
$
34.03

 
$40 to 49.99
2,219,630

 
5.17
 
 
$
44.28

 
 
971,946

 
 
$
44.36

 
$50 to 59.99
1,817,150

 
7.01
 
 
$
59.54

 
 
44,672

 
 
$
59.58

 
$60 to 69.99
2,018,755

 
6.07
 
 
$
65.86

 
 
527,213

 
 
$
65.91

 
 
11,305,035

 
 
 
 
 
 
 
6,199,611