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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2016

The compensation expense that has been charged against income for these plans was as follows for the years ended December 31, 2016, 2015, and 2014:



	2016			2015			2014
	(in millions)
Stock-based compensation expense by type:
Restricted stock	$	106		$	99		$	91
Stock options	9			10			7
Total stock-based compensation expense	115			109			98
Tax benefit recognized	(20		)	(26		)	(22		)
Stock-based compensation expense, net of tax	$	95		$	83		$	76

Activity for our restricted stock was as follows for the year ended December 31, 2016:



	Shares		Weighted- Average Grant-Date Fair Value
	(shares in thousands)
Nonvested restricted stock at December 31, 2015	3,365		$	104.58
Granted	656		168.12
Vested	(1,455	)	87.77
Forfeited	(74	)	135.32
Nonvested restricted stock at December 31, 2016	2,492		$	121.94

The fair value was estimated on the date of grant using the Black-Scholes pricing model with the weighted-average assumptions indicated below:



	2016			2015			2014
Weighted-average fair value at grant date	$	37.12		$	36.91		$	22.45
Expected option life (years)	4.2 years			4.2 years			4.3 years
Expected volatility	27.6		%	27.4		%	27.6		%
Risk-free interest rate at grant date	1.1		%	1.4		%	1.3		%
Dividend yield	0.7		%	0.7		%	1.1		%

Activity for our option plans was as follows for the year ended December 31, 2016:



	Shares Under Option		Weighted-Average Exercise Price
	(shares in thousands)
Options outstanding at December 31, 2015	835		$	121.89
Granted	362		167.81
Exercised	(161	)	86.86
Forfeited	(14	)	163.94
Options outstanding at December 31, 2016	1,022		$	143.04
Options exercisable at December 31, 2016	342		$	111.28