EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2013

Stock-Based Compensation Expense

The compensation expense that has been charged against income for these plans was as follows for the years ended December 31, 2013, 2012, and 2011:

	2013			2012			2011
	(in millions)
Stock-based compensation expense by type:
Restricted stock	$	84		$	66		$	51
Stock options		8			16			16
Total stock-based compensation expense		92			82			67
Tax benefit recognized		(22	)		(21	)		(19	)
Stock-based compensation expense, net of tax	$	70		$	61		$	48

Activity for Restricted Stock Awards

Activity for our restricted stock was as follows for the year ended December 31, 2013:

	Shares			Weighted- Average Grant- Date Fair Value
	(shares in thousands)
Nonvested restricted stock at December 31, 2012		2,954		$	67.29
Granted		1,546			73.50
Vested		(619	)		53.45
Forfeited		(239	)		66.83
Nonvested restricted stock at December 31, 2013		3,642		$	71.84

Weighted-Average Fair Value of Stock Options

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

	2013			2012			2011
Weighted-average fair value at grant date	$	21.8		$	30.15		$	28.29
Expected option life (years)		4.4			4.4			4.8
Expected volatility		38.8	%		46.3	%		46.8	%
Risk-free interest rate at grant date		0.8	%		0.8	%		1.7	%
Dividend yield (1)		1.5	%		1.2	%		0.5	%

(1) As discussed in Note 14, in April 2011, our Board of Directors approved the initiation of a quarterly cash dividend policy.

Activity for Option Plans

Activity for our option plans was as follows for the year ended December 31, 2013:

	Shares Under Option			Weighted- Average Exercise Price
	(shares in thousands)
Options outstanding at December 31, 2012		2,233		$	61.68
Granted		334			76.03
Exercised		(1,242	)		53.63
Cancelled		(4	)		86.61
Forfeited		(49	)		72.72
Options outstanding at December 31, 2013		1,272		$	72.81
Options exercisable at December 31, 2013		524		$	69.74