Stock Compensation Plans

6 Months Ended

Jun. 30, 2014

7. STOCK COMPENSATION PLANS

As of June 30, 2014, the Company’s primary types of stock-based compensation were restricted stock and stock options. Stock-based compensation expense for the following periods was:



In millions	Three months ended June 30		Six months ended June 30
In millions	2014	2013	2014	2013
Restricted stock	$9	$12	$19	$21
Stock options	—	—	—	1
Total stock-based compensation (pre-tax)	9	12	19	22
Tax benefit	(2)	(4)	(6)	(7)
Total stock-based compensation (net of tax)	$7	$8	$13	$15

Stock-based compensation expense is recognized in the financial statements based upon fair value. During the three and six months ended June 30, 2014 and 2013, the Company did not grant any stock options. As of June 30, 2014, the total unrecognized compensation cost of $83 million related to unvested restricted stock grants is expected to be recognized over a weighted average period of approximately 1.3 years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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