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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2016
STOCK-BASED COMPENSATION  
Stock-based compensation cost included in income from continuing operations

 

($ in millions)

 

 

For the year ended

 

 

 

 

 

 

 

December 31:

 

2016

 

2015

 

2014

 

Cost

 

$

88

 

$

100

 

$

121

 

Selling, general and administrative

 

401

 

322

 

350

 

Research, development and engineering

 

55

 

51

 

54

 

Other (income) and expense*

 

 

(6

)

(13

)

Pre-tax stock-based compensation cost

 

544

 

468

 

512

 

Income tax benefits

 

(179

)

(156

)

(174

)

 

 

 

 

 

 

 

 

Net stock-based compensation cost

 

$

364

 

$

312

 

$

338

 

 

 

 

 

 

 

 

 

 

 

 

 

*

Reflects the one-time effects related to divestitures

 

Summary of Restricted Stock Units activity

 

 

 

2016

 

2015

 

2014

 

 

 

Weighted-

 

 

 

Weighted-

 

 

 

Weighted-

 

 

 

 

 

Average

 

Number

 

Average

 

Number

 

Average

 

Number

 

 

 

Grant Price

 

of Units

 

Grant Price

 

of Units

 

Grant Price

 

of Units

 

Balance at January 1

 

$

159

 

7,527,341

 

$

171

 

7,734,277

 

$

166

 

8,635,317

 

RSUs granted

 

140

 

3,985,870

 

143

 

4,230,186

 

172

 

2,525,947

 

RSUs released

 

174

 

(1,860,660

)

164

 

(3,567,495

)

157

 

(2,401,761

)

RSUs canceled/forfeited

 

158

 

(753,459

)

167

 

(869,627

)

167

 

(1,025,226

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31

 

$

147

 

8,899,092

 

$

159

 

7,527,341

 

$

171

 

7,734,277

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Performance Share Units activity

 

 

 

2016

 

2015

 

2014

 

 

 

Weighted-

 

 

 

Weighted-

 

 

 

Weighted-

 

 

 

 

 

Average

 

Number

 

Average

 

Number

 

Average

 

Number

 

 

 

Grant Price

 

of Units

 

Grant Price

 

of Units

 

Grant Price

 

of Units

 

Balance at January 1

 

$

173

 

2,928,932

 

$

185

 

3,140,707

 

$

178

 

2,824,294

 

PSUs granted at target

 

140

 

990,336

 

153

 

1,137,242

 

180

 

1,430,098

 

Performance adjustments*

 

194

 

(387,457

)

185

 

(168,055

)

157

 

29,960

 

PSUs released

 

194

 

(419,759

)

185

 

(840,552

)

157

 

(1,027,181

)

PSUs canceled/forfeited

 

174

 

(237,294

)

184

 

(340,410

)

187

 

(116,464

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31**

 

$

155

 

2,874,758

 

$

173

 

2,928,932

 

$

185

 

3,140,707

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*Represents the change in shares issued to employees after vesting of PSUs because final performance metrics were above or below specified targets

**Represents the number of shares expected to be issued based on achievement of grant date performance targets. The actual number of shares issued will depend on final performance against specified targets over the vesting period.

 

Summary of option activity

 

 

 

2016

 

2015

 

2014

 

 

 

Weighted-

 

 

 

Weighted-

 

 

 

Weighted-

 

 

 

 

 

Average

 

Number of

 

Average

 

Number of

 

Average

 

Number of

 

 

 

Exercise

 

Shares

 

Exercise

 

Shares

 

Exercise

 

Shares

 

 

 

Price

 

Under Option

 

Price

 

Under Option

 

Price

 

Under Option

 

Balance at January 1

 

$

94

 

479,774

 

$

97

 

1,750,949

 

$

97

 

5,622,951

 

Options granted

 

140

 

1,500,000

 

 

 

 

 

Options exercised

 

91

 

(361,088

)

98

 

(1,214,109

)

97

 

(3,740,252

)

Options canceled/expired

 

86

 

(4,763

)

100

 

(57,066

)

95

 

(131,750

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31

 

$

137

 

1,613,923

 

$

94

 

479,774

 

$

97

 

1,750,949

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31

 

$

103

 

113,923

 

$

94

 

479,774

 

$

97

 

1,750,949

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options outstanding and exercisable by exercise price ranges

 

 

 

Options Outstanding

 

 

 

Weighted-

 

 

 

 

 

Weighted-Average

 

 

 

Average

 

Number of

 

Aggregate

 

Remaining

 

 

 

Exercise

 

Shares

 

Intrinsic

 

Contractual Life

 

Exercise Price Range

 

Price

 

Under Option

 

Value

 

(in Years)

 

$128 and under

 

$

103 

 

113,923 

 

$

7,198,794 

 

0.3 

 

$129 – $154

 

140 

 

1,500,000 

 

39,236,250 

 

9.1 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

137 

 

1,613,923 

 

$

46,435,044 

 

8.5 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Exercisable

 

 

 

Weighted-

 

 

 

 

 

Weighted-Average

 

 

 

Average

 

Number of

 

Aggregate

 

Remaining

 

 

 

Exercise

 

Shares

 

Intrinsic

 

Contractual Life

 

Exercise Price Range

 

Price

 

Under Option

 

Value

 

(in Years)

 

$128 and under

 

$

103 

 

113,923 

 

$

7,198,794 

 

0.3