EQUITY COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2014

EQUITY COMPENSATION PLANS

Summary of stock option activity and average exercise prices

	2014				2013				2012
	NUMBER OF		EXERCISE		NUMBER OF		EXERCISE		NUMBER OF		EXERCISE
	OPTIONS		PRICE(a)		OPTIONS		PRICE(a)		OPTIONS		PRICE(a)
Outstanding, beginning of year	13,926,256		$	55.66	15,125,156		$	48.29	20,126,579		$	41.45
Granted	1,645,937		107.63		1,640,210		101.22		2,238,267		71.17
Exercised	(2,316,918	)	44.79		(2,583,026	)	40.68		(6,774,032	)	35.16
Canceled	(85,499	)	83.81		(256,084	)	63.00		(465,658	)	53.61
Outstanding, end of year	13,169,776		$	63.88	13,926,256		$	55.66	15,125,156		$	48.29
Exercisable, end of year	9,820,826		$	52.21	10,233,265		$	46.33	11,036,700		$	42.77
Vested and expected to vest, end of year	12,944,608		$	63.35

(a) Represents weighted average price.

Weighted-average grant-date fair value of options granted and significant assumptions used in determining the underlying fair value of each option grant

	2014		2013		2012
Weighted-average grant-date fair value of options granted at market prices	$	23.18	$	22.53	$	13.77
Assumptions
Risk-free rate of return	1.8%		1.8%		0.9%
Expected life	6 years		6 years		6 years
Expected volatility	22.9%		23.0%		22.8%
Expected dividend yield	1.2%		1.1%		1.3%

Summary of non-vested PBRSU awards and restricted stock activity

			GRANT				GRANT
	PBRSU		DATE FAIR		RSAs AND		DATE FAIR
	AWARDS		VALUE(a)		RSUs		VALUE(a)
December 31, 2011	2,140,665		$	50.68	1,016,660		$	53.67
Granted	454,620		68.63		230,193		64.10
Vested / Earned	(285,249	)	55.62		(362,926	)	53.80
Canceled	(218,764	)	53.14		(86,714	)	52.03
December 31, 2012	2,091,272		$	53.65	797,213		$	56.79
Granted	342,207		99.63		109,212		90.56
Vested / Earned	(594,366	)	47.60		(249,093	)	53.59
Canceled	(88,844	)	57.71		(35,311	)	56.20
December 31, 2013	1,750,269		$	64.49	622,021		$	64.04
Granted	373,337		103.10		109,665		102.62
Vested / Earned	(503,324	)	47.98		(306,830	)	55.83
Canceled	(27,048	)	74.09		(23,785	)	73.01
December 31, 2014	1,593,234		$	78.59	401,071		$	80.33

(a) Represents weighted average price.