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SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Additional Information on RSUs
The following table provides additional information on RSUs for the last three fiscal years:
 
2015
 
2014
 
2013
Share-based compensation expense (in millions)
$
103

 
$
98

 
$
101

Weighted average grant-date fair value (per RSU)
$
78

 
$
52

 
$
38

Aggregate intrinsic value of converted and distributed RSUs (in millions)
$
195

 
$
144

 
$
125
Changes in Outstanding Restricted Stock Unit Grants
The following table presents the 2015 changes in our outstanding RSU grants and the associated weighted average grant-date fair values:
 
Number of RSUs
(in millions)
 
Weighted
Average 
Grant-Date
Fair Value
(per RSU)
Outstanding at year-end 2014
6.0

 
$
42

Granted during 2015 (1)
1.4

 
78

Distributed during 2015
(2.4
)
 
39

Forfeited during 2015
(0.1
)
 
52

Outstanding at year-end 2015
4.9

 
$
53


(1) 
Includes 0.1 million PSUs granted to named executive officers.
Changes in Outstanding SARs
The following table presents the 2015 changes in our outstanding SARs and the associated weighted average exercise prices:
 
Number of SARs
(in millions)
 
Weighted Average
Exercise Price
Outstanding at year-end 2014
5.8

 
$
33

Granted during 2015
0.3

 
83

Exercised during 2015
(0.5
)
 
34

Forfeited during 2015
—

 
76

Outstanding at year-end 2015
5.6

 
$
36
Number of Employee SARs and Director SARs Granted, Associated Weighted Average Base Values, And Weighted Average Grant-Date Fair Values
The following tables show the number of Employee SARs and Director SARs we granted in the last three fiscal years, the associated weighted average exercise prices, and the associated weighted average grant-date fair values:
Employee SARs
2015
 
2014
 
2013
Employee SARs granted (in millions)
0.3

 
0.3

 
0.7

Weighted average exercise price (per SAR)
$
83

 
$
53

 
$
39

Weighted average grant-date fair value (per SAR)
$
26

 
$
17

 
$
13

Director SARs
2015
 
2014
 
2013
Director SARs granted
2,773

 
3,277

 
5,903

Weighted average exercise price (per SAR)
$
80

 
$
59

 
$
44

Weighted average grant-date fair value (per SAR)
$
29

 
$
22

 
$
15
Assumptions for Stock Options and Employee SARs
We used the following assumptions to determine the fair value of the SARs and stock options we granted to employees and non-employee directors in 2015, 2014, and 2013:
 
2015
 
2014
 
2013
Expected volatility
30
%
 
29 - 30%

 
30 - 31%

Dividend yield
1.04
%
 
1.14
%
 
1.17
%
Risk-free rate
1.9 - 2.3%

 
2.2 - 2.8%

 
1.8 - 1.9%

Expected term (in years)
6 - 10

 
6 - 10

 
8 - 10
Share-Based Compensation Expense, Number of Deferred Stock Units Granted, Weighted Average Grant-date Fair Value, and Aggregate Intrinsic Value of Non-Employee Director Deferred Stock Units
The following table presents the share-based compensation expense, the number of deferred stock units we granted, the weighted average grant-date fair value, and the aggregate intrinsic value for the last three fiscal years for non-employee director deferred stock units: 
 
2015
 
2014
 
2013
Share-based compensation expense (in millions)
$
1.1

 
$
1.2

 
$
1.4

Non-employee director deferred stock units granted
15,000

 
21,000

 
31,000

Weighted average grant-date fair value (per share)
$
80

 
$
59

 
$
44

Aggregate intrinsic value of shares distributed (in millions)
$
1.8

 
$
0.8

 
$
0.7