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Stock-Based Employee Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Additional Information With Respect to Restricted Stock Units and Performance Units

Additional information with respect to restricted stock units and performance units is as follows:

 

     Restricted Stock Units      Performance Units*  
     Number
of Shares
    Weighted Average
Grant Date
Fair Value
     Number
of Shares
    Weighted Average
Grant Date
Fair Value
 

Nonvested, January 1, 2013

     2,418,946      $ 59.54         973,909      $ 63.88   

Granted

     668,754        83.75         408,989        98.46   

Vested**

     (852,786     51.42         (500,409     64.34   

Forfeited

     (107,267     63.00         (21,348     70.58   
  

 

 

      

 

 

   

Nonvested, December 31, 2013

     2,127,647        70.23         861,141        79.87   
  

 

 

      

 

 

   

 

  * The number of shares earned may range from 0% to 200% of the performance units shown in the table above.

 

  **

The performance units earned in 2013 were 132.6% of the vested shares shown in the table, or 663,542 shares.

Stock Option Pricing Weighted Average Assumptions
The fair value of each stock option was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:

 

     2013        2012        2011  

Risk-free interest rate

     .9%           1.0%           2.4%   

Expected volatility

     24.4%           24.6%           24.2%   

Dividend yield

     2.1%           2.4%           2.6%   

Expected average term (in years)

     5.5              5.5              5.5   
Additional Information with Respect to Stock Options

Additional information with respect to stock options is as follows:

 

    Number
of Shares
    Weighted
Average
Exercise Price
     Weighted Average
Remaining
Contractual Term
     Aggregate
Intrinsic Value
 
                 (in years)      (in millions)  

Outstanding, January 1, 2013

    520,575      $ 40.24         

Granted

    71,903        83.89         

Exercised

    (317,256     32.48         

Forfeited

    (23,535     39.94         
 

 

 

         

Outstanding, December 31, 2013

    251,687        62.52         6.6       $ 9   
 

 

 

         

Exercisable, December 31, 2013

    127,475        48.93         4.7         6