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SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2014
Weighted Average Assumptions Used in Estimating Value of Stock Options Granted
Weighted Average Assumptions Used in Estimating Value of Stock Options Granted
  
2014 
 GRANTS

2013 
 GRANTS

2012 
 GRANTS

Expected volatility
31.71
%
38.00
%
40.41
%
Expected dividends
2.92
%
2.23
%
2.94
%
Expected term (in years)
4.97

4.97

5.33

Risk-free rate
1.57
%
0.92
%
1.01
%
Weighted average grant-date fair value
$
6.62

$
8.40

$
5.72
Schedule of Stock Options Activity
Activity
The following table shows our option unit activity for 2014.
 
OPTIONS
(IN
THOUSANDS)
WEIGHTED
AVERAGE
EXERCISE
PRICE

WEIGHTED
AVERAGE
REMAINING
CONTRACTUAL
TERM
(IN YEARS)
AGGREGATE
INTRINSIC
VALUE (IN
MILLIONS)

Outstanding at December 31, 2013
17,055
$
23.12

 
 
Granted
2,463
$
30.14

 
 
Exercised
(5,294)
$
22.50

 
 
Forfeited or expired(1)
(1,939)
$
26.98

 
 
Outstanding at December 31, 2014(2)
12,285
$
24.19

5.27
$
144

Exercisable at December 31, 2014
8,267
$
22.32

3.81
$
112

(1) Approximately 1,601 thousand stock options were cancelled as a result of the Real Estate Divestiture. See Note 3: Discontinued Operations for more information.
(2) As of December 31, 2014, there were approximately 998 thousand stock options that had met the requisite service period and will be released as identified in the grant terms.
Schedule of Restricted Stock Units Award Activity
Activity
The following table shows our restricted stock unit activity for 2014.
 
STOCK UNITS
(IN THOUSANDS)
WEIGHTED
AVERAGE
GRANT-DATE
FAIR VALUE

Nonvested at December 31, 2013
1,547
$
25.83

Granted
686
$
30.14

Vested
(628)
$
24.94

Forfeited(1)
(378)
$
27.90

Nonvested at December 31, 2014(2)
1,227
$
28.06

(1) Approximately 280 thousand restricted stock units were cancelled as a result of the Real Estate Divestiture. See Note 3: Discontinued Operations for more information.
(2) As of December 31, 2014, there were approximately 212 thousand restricted stock units that had met the requisite service period and will be released as identified in the grant terms.
Weighted Average Assumptions Used in Estimating the Value of Performance Share Units
Weighted Average Assumptions Used in Estimating the Value of Performance Share Units
  
2014 
 GRANTS

2013 
 GRANTS

2012 
 GRANTS

Performance period
1/1/2014 – 12/31/2015

1/1/2013 – 12/31/2014

1/1/2012 – 12/31/2013

Valuation date closing stock price
$
30.16

$
30.48

$
20.56

Expected dividends
2.91
%
2.23
%
2.92
%
Risk-free rate
0.03% - 0.79%

0.09% - 0.46%

0.08% - 0.32%

Volatility
20.74% - 23.53%

22.09% - 29.57%

34.66% - 34.86%

Weighted average grant-date fair value
$
30.62

$
31.59

$
21.71
Schedule of Performance Share Units Activity
Activity
The following table shows our performance share unit activity for 2014.
 
GRANTS (IN 
THOUSANDS)

WEIGHTED
AVERAGE
GRANT-DATE
FAIR VALUE

Nonvested at December 31, 2013
1,102

$
26.83

Granted at target
321

$
30.62

Vested
(311
)
$
23.32

Forfeited(1)
(206
)
$
26.07

Performance adjustment
(16
)
$
31.15

Nonvested at December 31, 2014(2)
890

$
29.46

(1) Approximately 44 thousand performance share units were cancelled as a result of the Real Estate Divestiture. See Note 3: Discontinued Operations for more information.
(2) As of December 31, 2014, there were approximately 393 thousand performance share units that had met the requisite service period and will be released as identified in the grant terms.
Weighted Average Assumptions Used to Re-measure Value of Stock Appreciation Rights
Weighted Average Assumptions Used to Re-measure Value of Stock Appreciation Rights at Year-End
  
2014 
 GRANTS

2013 
 GRANTS

2012 
 GRANTS

Expected volatility
18.20
%
24.02
%
29.07
%
Expected dividends
3.21
%
2.81
%
2.44
%
Expected term (in years)
1.32

1.16

1.71

Risk-free rate
0.45
%
0.19
%
0.27
%
Weighted average fair value
$
12.70

$
8.68

$
7.25
Schedule of Stock Appreciation Rights Activity
Activity
The following table shows our stock appreciation rights activity for 2014.
 
RIGHTS
(IN
THOUSANDS)

WEIGHTED
AVERAGE
EXERCISE
PRICE

AVERAGE
REMAINING
CONTRACTUAL
TERM
(IN YEARS)
AGGREGATE
INTRINSIC
VALUE (IN
MILLIONS)

Outstanding at December 31, 2013
695

$
22.96

 
 
Granted
74

$
30.16

 
 
Exercised
(322
)
$
24.21

 
 
Forfeited or expired
(30
)
$
28.80

 
 
Outstanding at December 31, 2014
417

$
22.85

4.44
$
5

Exercisable at December 31, 2014
327

$
21.70

3.39
$
5