Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Share-Based Compensation

Compensation expense included in net income

(In millions)		2016		2015		2014
Compensation expense	$	71	$	63	$	85
Income tax benefit		(26)		(23)		(32)
Total net compensation expense included in net income	$	45	$	40	$	53

Weighted-average fair value of stock options and assumptions used in option-pricing model

		2016		2015		2014
Fair value of options at grant date	$	10.33	$	14.03	$	12.72
Dividend yield		0.2%		0.2%		0.2%
Expected volatility		33.6%		34.9%		34.5%
Risk-free interest rate		1.2%		1.5%		1.5%
Expected term (in years)		4.8		4.8		5.0

Stock option activity

(Options in thousands)	Number of Options		Weighted- Average Exercise Price
Outstanding at beginning of year	8,808	$	32.91
Granted	1,795		34.51
Exercised	(1,143)		(28.57)
Forfeited or expired	(196)		(39.85)
Outstanding at end of year	9,264	$	33.61
Exercisable at end of year	5,849	$	30.71

Restricted Stock Units

Share-Based Compensation

Unit period activity, Nonvested, Weighted average grant date fair value

	Units Payable in Stock			Units Payable in Cash
(Shares/Units in thousands)	Number of Shares		Weighted- Average Grant Date Fair Value	Number of Units		Weighted- Average Grant Date Fair Value
Outstanding at beginning of year, nonvested	880	$	33.97	1,492	$	34.84
Granted	189		34.50	403		34.59
Vested	(272)		(28.57)	(352)		(27.70)
Forfeited	—		—	(99)		(37.42)
Outstanding at end of year, nonvested	797	$	35.94	1,444	$	36.33

Fair value of awards vested and cash paid during respective periods

(In millions)		2016		2015		2014
Fair value of awards vested	$	20	$	25	$	25
Cash paid		12		20		23

Performance Share Units

Share-Based Compensation

Unit period activity, Nonvested, Weighted average grant date fair value

(Units in thousands)	Number of Units		Weighted- Average Grant Date Fair Value
Outstanding at beginning of year, nonvested	549	$	41.84
Granted	285		34.50
Vested	(290)		(39.70)
Forfeited	(9)		(39.56)
Outstanding at end of year, nonvested	535	$	39.13

Fair value of awards vested and cash paid during respective periods

(In millions)		2016		2015		2014
Fair value of awards vested	$	14	$	16	$	20
Cash paid		13		17		12