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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Fair Value of Each Stock Option Award is Estimated on Grant Date, Using Option Valuation Models

The expected life is an estimate of the number of years a share-based award will be held before it is exercised.

 

     2016     2015     2014  

Risk-free interest rate

     1.70     1.59     1.96

Expected volatility

     36     36     37

Expected life, in years

     6.25       6.25       6.25  

Expected dividend yield

                  

Schedule of Stock Option Activity

Information regarding Time Stock Options and SARs and Performance Stock Options and SARs activity during 2016, 2015 and 2014 is summarized below (share amounts in thousands):

 

    Time
Stock
Options
and
SARs
    Performance
Stock
Options and
SARs
    Total
Stock
Options
and
SARs
    Weighted
Average
Exercise
Price
    Weighted
Average
Remaining
Contractual Term
    Aggregate
Intrinsic Value
(dollars in millions)
 

Options and SARs outstanding, December 31, 2013

    16,809       18,377       35,186     $ 15.82      

Granted

    1,723       1,722       3,445       48.56      

Exercised

    (3,322     (5,234     (8,556     9.15      

Cancelled

    (159     (121     (280     29.54      
 

 

 

   

 

 

   

 

 

       

Options and SARs outstanding, December 31, 2014

    15,051       14,744       29,795       21.39      

Granted

    1,746             1,746       69.16      

Exercised

    (4,093     (3,988     (8,081     12.77      

Cancelled

    (539     (329     (868     32.59      
 

 

 

   

 

 

   

 

 

       

Options and SARs outstanding, December 31, 2015

    12,165       10,427       22,592       27.73      

Granted

    1,601             1,601       69.96      

Exercised

    (2,521     (4,171     (6,692     15.85      

Cancelled

    (309     (126     (435     55.17      
 

 

 

   

 

 

   

 

 

       

Options and SARs outstanding, December 31, 2016

    10,936       6,130       17,066       35.65       5.5 years     $ 655  
 

 

 

   

 

 

   

 

 

       

Options and SARs exercisable, December 31, 2016

    7,015       4,943       11,958     $ 26.15       4.5 years     $ 573  

Schedule of Restricted Stock Units Activity

Information regarding Time RSUs, Performance RSUs and PSUs activity during 2016, 2015 and 2014 is summarized below (share amounts in thousands):

 

     Time RSUs     Performance
RSUs
    PSUs     Total RSUs
and PSUs
    Weighted
Average
Grant
Date Fair
Value
 

RSUs and PSUs outstanding, December 31, 2013

     5,099       2,399             7,498     $ 33.30  

Granted

     2,603       1,229             3,832       48.53  

Vested

     (1,423     (692           (2,115     32.56  

Cancelled

     (384     (155           (539     38.30  
  

 

 

   

 

 

   

 

 

   

 

 

   

RSUs and PSUs outstanding, December 31, 2014

     5,895       2,781             8,676       39.89  

Granted

     1,694             1,411       3,105       69.43  

Vested

     (1,953     (928           (2,881     37.61  

Cancelled

     (334     (113     (40     (487     47.26  
  

 

 

   

 

 

   

 

 

   

 

 

   

RSUs and PSUs outstanding, December 31, 2015

     5,302       1,740       1,371       8,413       51.15  

Granted

     1,450             1,178       2,628       69.95  

Vested

     (2,242     (870           (3,112     41.71  

Cancelled

     (399     (80     (163     (642     59.66  
  

 

 

   

 

 

   

 

 

   

 

 

   

RSUs and PSUs outstanding, December 31, 2016

     4,111       790       2,386       7,287       61.21