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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Number of common shares reserved for issuance
The number of common shares reserved for issuance are as follows: 
(in millions)
December 31,
 
2013
 
2012
Shares available for granting under the 2002 Plan
30.3
 
26.8
Options outstanding
12.2
 
18.6
Total shares reserved for issuance 1
42.5
 
45.4
1
Shares reserved for issuance under the Director Deferred Stock Ownership Plan are not included in the total, but are less than 0.2 million.
Stock-based compensation expense
Stock-based compensation expense and the corresponding tax benefit are as follows: 
(in millions)
Year Ended December 31,
 
2013
 
2012
 
2011
Stock option expense
$
13

 
$
10

 
$
19

Restricted stock and unit awards expense
86

 
83

 
58

Total stock-based compensation expense
$
99

 
$
93

 
$
77

 
 
 
 
 
 
Tax benefit
$
38

 
$
36

 
$
29
Assumptions used in valuing the options granted
The following assumptions were used in valuing the options granted (in 2012, stock options were not granted as part of employees' total stock-based incentive awards): 
 
Year Ended December 31,
 
2013
 
2012
 
2011
Risk-free average interest rate
0.1 - 2.9%

 
N/A
 
0.2 - 3.5%

Dividend yield
2.09 - 2.07%

 
N/A
 
2.5 - 3.0%

Volatility
29 - 45%

 
N/A
 
21 - 51%

Expected life (years)
6.1 - 6.2

 
N/A
 
6.1 - 6.2

Weighted-average grant-date fair value per option
$
14.46

 
N/A
 
$
10.61
Stock option activity
Stock option activity is as follows: 
(in millions, except per award amounts)
Shares

Weighted average exercise price

Weighted-average remaining years of contractual term

Aggregate intrinsic value
Options outstanding as of December 31, 2012
18.6

 
$
39.58

 
 
 
 
Granted
1.4

1 

$
51.69

 
 
 
 
Exercised
(7.4
)
 
$
37.78

 
 
 
 
Canceled, forfeited and expired
(0.4
)
 
$
50.33

 
 
 
 
Options outstanding as of December 31, 2013
12.2

 
$
41.78

 
4.3
 
$
445

Options exercisable as of December 31, 2013
10.9

 
$
40.55

 
3.7
 
$
409


(in millions, except per award amounts)
Shares

Weighted-average grant-date fair value
Nonvested options outstanding as of December 31, 2012
1.1

 
$
10.61

Granted
1.4

 
$
14.46

Vested
(1.2
)
 
$
10.61

Nonvested options outstanding as of December 31, 2013
1.3

 
$
14.46

Total unrecognized compensation expense related to nonvested options
$
9

 
 
Weighted-average years to be recognized over
2.3

 
 
Stock option exercised
Information regarding our stock option exercises is as follows: 
(in millions)
Year Ended December 31,
 
2013
 
2012
 
2011
Net cash proceeds from the exercise of stock options
$
258

 
$
299

 
$
139

Total intrinsic value of stock option exercises
$
158

 
$
120

 
$
41

Income tax benefit realized from stock option exercises
$
61

 
$
47

 
$
16
Restricted stock and unit activity
Restricted stock and unit activity for performance and non-performance awards is as follows: 
(in millions, except per award amounts)
Shares
 
Weighted-average grant-date fair value
Nonvested shares as of December 31, 2012
3.4

 
$
40.49

Granted
3.0

 
$
44.22

Vested
(3.1
)
 
$
38.93

Forfeited
(0.2
)
 
$
46.28

Nonvested shares as of December 31, 2013
3.1

 
$
47.89

Total unrecognized compensation expense related to nonvested awards
$
84

 
 
Weighted-average years to be recognized over
1.6

 
 


 
Year Ended December 31,
 
2013
 
2012
 
2011
Weighted-average grant-date fair value per award
$
44.22

 
$
44.38

 
$
37.80

Total fair value of restricted stock and unit awards vested
$
119

 
$
90

 
$
1

Tax benefit relating to restricted stock activity
$
33

 
$
32

 
$
22