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Stock Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award  
Schedule of Share-based Compensation, Stock Options, Activity
The following table summarizes the activity related to options during 2015:
 
Options
 
Weighted Average
Exercise Price
 
Weighted Average
Remaining
Contractual Term
(Years)
 
Aggregate Intrinsic
Value (In millions)
Outstanding at January 1
10,350,633

 
$
16.75

 
 
 
 

Options granted
802,871

 
27.32

 
 
 
 

Options exercised
(3,028,112
)
 
18.35

 
 
 
$
40

Options expired
(52,687
)
 
17.15

 
 
 
 

Options cancelled
(290,009
)
 
18.67

 
 
 
 

Outstanding at December 31
7,782,696

 
17.15

 
5.8
 
121

Vested and expected to vest at December 31
7,493,529

 
17.03

 
5.7
 
119

Exercisable at December 31
5,153,908

 
15.55

 
4.7
 
89

Available for grant at December 31
8,645,222

 
 

 
 
 
 
Schedule of Significant Options Groups
Significant option groups outstanding at December 31, 2015 and related weighted average exercise price and remaining contractual term information follows:
Grant Date
 
Options Outstanding
 
Options Exercisable
 
Exercise Price
 
Remaining Contractual Term (Years)
2/23/2015
 
719,164

 
—

 
$
27.16

 
9.2

2/24/2014
 
502,513

 
111,397

 
26.44

 
8.2

2/28/2013
 
1,512,308

 
695,216

 
12.98

 
7.2

2/27/2012
 
1,139,048

 
805,963

 
12.94

 
6.2

2/22/2011
 
729,512

 
729,512

 
13.91

 
5.2

2/23/2010
 
547,334

 
547,334

 
12.74

 
4.2

2/26/2009
 
489,562

 
489,562

 
4.81

 
3.2

2/21/2008
 
486,390

 
486,390

 
26.74

 
2.2

2/27/2007
 
477,584

 
477,584

 
24.71

 
1.2

All other
 
1,179,281

 
810,950

 
(1
)
 
(1
)
 
 
7,782,696

 
5,153,908

 
 

 
 


(1)
Options in the “All other” category had exercise prices ranging from $6.22 to $36.25. The weighted average exercise price for options outstanding and exercisable in that category was $18.65 and $16.63, respectively, while the remaining weighted average contractual term was 6.1 and 5.0, respectively.
Schedule of Stock Options Weighted Average Grant Date Fair Values and Assumptions Used
Weighted average grant date fair values of stock options and the assumptions used in estimating those fair values are as follows:
 
2015
 
2014
 
2013
Weighted average grant date fair value
$
11.51

 
$
11.48

 
$
6.28

Black-Scholes model assumptions(1):
 

 
 

 
 

Expected term (years)
7.30

 
7.40

 
6.25

Interest rate
1.83
%
 
2.10
%
 
1.11
%
Volatility
42.00
%
 
43.45
%
 
46.66
%
Dividend yield
0.88
%
 
0.81
%
 
—


(1)
We review the assumptions used in our Black-Scholes model in conjunction with estimating the grant date fair value of the annual grants of options by our Board of Directors.
Schedule of Stock-based Compensation Expense and Cash Activity
Stock-based compensation expense, cash payments made to settle SARs and cash received from the exercise of stock options follows:
(In millions)
2015
 
2014
 
2013
Stock-based compensation expense recognized
$
19

 
$
20

 
$
18

Tax benefit
(7
)
 
(7
)
 
—

After-tax stock-based compensation expense
$
12

 
$
13

 
$
18

Cash payments to settle SARs
$
2

 
$
2

 
$
1

Cash received from stock option exercises
$
53

 
$
39

 
$
22
Performance Share Units  
Share-based Compensation Arrangement by Share-based Payment Award  
Schedule of Nonvested Share Activity
The following table summarizes the activity related to performance share units during 2015:
 
Units
 
Weighted Average Grant Date Fair Value
Unvested at January 1
322,098

 
$
20.47

Units granted
225,392

 
28.44

Units vested
(157,989
)
 
12.29

Units forfeited
(71,231
)
 
23.93

Unvested at December 31
318,270

 
28.64
Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award  
Schedule of Nonvested Share Activity
The following table summarizes the activity related to restricted stock units during 2015:
 
Units
 
Weighted Average Grant Date Fair Value
Unvested at January 1
482,177

 
$
22.36

Units granted
330,388

 
28.43

Units vested and settled
(87,972
)
 
13.60

Units forfeited
(51,500
)
 
26.33

Unvested at December 31
673,093

 
26.16