Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2013

Stock option and SAR activity for the nine months ended September 30, 2013 is summarized in the table below:



	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life	Aggregate Intrinsic Value
	(in millions)				(in years)	(in millions)
Outstanding at beginning of period	63		$	45
Granted	8		58
Exercised	(25	)	43
Forfeited	(2	)	55
Outstanding at end of period	44		48		4.6	$	1,054
Exercisable at end of period	33		46		3.2	840
Vested and expected to vest, end of period	43		48		4.6	1,043

Restricted share activity for the nine months ended September 30, 2013 is summarized in the table below:



(shares in millions)	Shares		Weighted-Average Grant Date Fair Value per Share
Nonvested at beginning of period	9		$	46
Granted	3		58
Forfeited	(1	)	50
Nonvested at end of period	11		50

Other Share-Based Compensation Data



(in millions, except per share amounts)	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions, except per share amounts)	2013		2012		2013		2012
Stock Options and SARs
Weighted-average grant date fair value of shares granted, per share	$	23	$	16	$	19	$	18
Total intrinsic value of stock options and SARs exercised	182		44		507		442
Restricted Shares
Weighted-average grant date fair value of shares granted, per share	72		51		58		52
Total fair value of restricted shares vested	—		5		—		357
Share-Based Compensation Items
Share-based compensation expense, before tax	79		87		255		329
Share-based compensation expense, net of tax effects	67		70		174		230
Income tax benefit realized from share-based award exercises	62		14		178		288



(in millions, except years)	September 30, 2013
Unrecognized compensation expense related to share awards	$	374
Weighted-average years to recognize compensation expense	1.3

The principal assumptions the Company used in calculating grant-date fair value for stock options and SARs were as follows:



	Three Months Ended September 30,		Nine Months Ended September 30,
	2013	2012	2013	2012
Risk-free interest rate	1.6%	0.7%	1.0% - 1.6%	0.7% - 0.9%
Expected volatility	41.8%	44.0%	41.8% - 43.0%	43.4% - 44.0%
Expected dividend yield	1.5%	1.7%	1.4% - 1.5%	1.2% - 1.7%
Forfeiture rate	5.0%	5.0%	5.0%	5.0%
Expected life in years	5.3	5.3	5.3	5.3 - 5.6