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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock-based compensation expense and tax benefits
The following table reflects activity related to our stock-based compensation arrangements (in millions):
 
Year Ended December 31,
 
2012
 
2011
 
2010
Stock-based compensation expense
$
58

 
$
58

 
$
54

Tax benefit recognized on stock-based compensation expense
20

 
20

 
19

Tax benefit realized for tax deductions resulting from exercises and vestings
45

 
35

 
23

Effect of tax deductions in excess of recognized stock-based compensation expense reported as a financing cash flow
27

 
23

 
11

Summary of weighted-average assumptions used in fair value measurements
A summary of the weighted-average assumptions used in our fair value measurements is presented in the table below.
 
Year Ended December 31,
 
2012
 
2011
 
2010
Expected life in years
6.0

 
6.0

 
6.0

Expected volatility
49.11
%
 
49.30
%
 
48.21
%
Expected dividend yield
2.39
%
 
2.28
%
 
1.05
%
Risk-free interest rate
0.85
%
 
1.44
%
 
1.83
%
Summary of stock option awards
A summary of the status of our stock option awards is presented in the table below.




Number of
Stock
Options
 
Weighted-
Average
Exercise
Price Per
Share
 
Weighted-
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
 
 
 
 
 
(in years)
 
(in millions)
Outstanding as of January 1, 2012
19,906,586

 
$
27.11

 

 

Granted
262,170

 
29.23

 

 

Exercised
(4,738,312
)
 
13.67

 

 

Expired
(2,196,876
)
 
47.72

 
 
 
 
Forfeited
(18,840
)
 
32.29

 

 

Outstanding as of December 31, 2012
13,214,728

 
28.54

 
3.3
 
$
157

 
 
 
 
 
 
 
 
Exercisable as of December 31, 2012
12,594,488

 
28.65

 
3.0
 
152

Summary of restricted stock awards
A summary of the status of our restricted stock awards is presented in the table below.





Number of
Shares
 
Weighted-
Average
Grant-Date
Fair Value
Per Share
Nonvested shares as of January 1, 2012
3,249,090

 
$
22.28

Granted
1,459,317

 
28.90

Vested
(1,736,379
)
 
23.67

Forfeited
(51,740
)
 
22.07

Nonvested shares as of December 31, 2012
2,920,288

 
24.76

Summary of performance awards
A summary of the status of our performance awards considered granted is presented below.
 
Nonvested
Awards
 
Vested
Awards
Awards outstanding as of January 1, 2012
691,191

 
24,635

Granted
547,140

 

Vested
(222,250
)
 
222,250

Forfeited
(26,667
)
 
(37,969
)
Awards outstanding as of December 31, 2012
989,414

 
208,916

There were three tranches of performance awards granted during the year ended December 31, 2012 as follows:
 
Awards
Granted
 
Expected
Conversion
Rate
 
Fair Value
Per Share
Third tranche of 2010 awards
208,917

 
100%
 
$
28.53

Second tranche of 2011 awards
233,350

 
50%
 
28.53

First tranche of 2012 awards
104,873

 
75%
 
28.53

Total
547,140