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STOCK-BASED COMPENSATION PLANS (Tables)
12 Months Ended
Dec. 31, 2015
Stock Based Compensation Plans [Abstract]  
Share based compensation fair value assumptions
Years Ended December 31,
201520142013
Weighted average fair value per share of options
granted during the year(1)$17.21$16.35$11.85
Assumptions:
Expected annual dividend yield 1.98%2.05%2.55%
Expected volatility 21.55%23.06%24.73%
Risk-free rate of return 1.61%1.48%0.91%
Expected option term (years) 5.05.05.5
(1) Estimated on date of grant using Black-Scholes option-pricing model.
Stock Options Activity
Weighted
Average
Number ofExercise
OptionsPrice
Outstanding at December 31, 201235,569,021$47.13
Granted6,041,42269.89
Exercised(10,329,611)41.91
Lapsed or canceled(616,995)53.84
Outstanding at December 31, 201330,663,83753.27
Granted5,823,70693.95
Exercised(5,697,263)47.47
Lapsed or canceled(1,294,668)67.70
Outstanding at December 31, 201429,495,61261.80
Granted5,967,256103.87
Exercised(4,190,298)53.40
Lapsed or canceled(703,132)84.31
Outstanding at December 31, 201530,569,438$70.76
Vested and expected to vest at December 31, 2015(1)28,852,696$68.96
Exercisable at December 31, 201517,202,377$55.11
(1) Represents the sum of vested options of 17.2 million and expected to vest options of 11.7 million. Expected to vest options are derived by applying the pre-vesting forfeiture rate assumption to total outstanding unvested options of 13.6 million.
Schedule of share based compensation by price ranges
Options OutstandingOptions Exercisable
WeightedWeighted
WeightedAverageAggregateAverageAggregate
Range of NumberAverageExerciseIntrinsicNumberExerciseIntrinsic
Exercise pricesOutstandingLife(1)PriceValueExercisablePriceValue
$28.35-$49.996,176,7773.31$38.45$4026,176,777$38.45$402
$50.00-$64.998,884,5875.1158.434017,731,36258.21351
$65.00-$75.004,490,5147.1669.921512,048,04269.9269
$90.00-$103.9011,017,5608.7099.17501,246,19694.0712
30,569,4386.3470.76$1,00417,202,37755.11$834
(1) Average remaining contractual life in years.
Financial Statement Impact From Stock Options Exercised
Years Ended December 31,
Options Exercised201520142013
Intrinsic value(1)$210$272$367
Tax benefit realized7396129
Operating cash inflow137172333
Financing cash inflow577799
Total cash received194249432
(1) Represents the amount by which the stock price exceeded the exercise price of the options on the date of exercise.
Restricted stock units activity
Weighted
Average
Number ofGrant Date
RestrictedFair Value
Stock UnitsPer Share
Non-vested at December 31, 20128,095,739$49.91
Granted1,904,50475.73
Vested(2,995,553)42.17
Forfeited(312,470)56.58
Non-vested at December 31, 20136,692,22060.04
Granted1,455,20994.88
Vested(1,787,894)53.63
Forfeited(460,341)63.54
Non-vested at December 31, 20145,899,19470.32
Granted1,190,406103.04
Vested(1,681,342)56.38
Forfeited(426,670)77.73
Non-vested at December 31, 20154,981,588$82.18
Income Statement Impact from RSUs
Years Ended December 31,
201520142013
Compensation expense$97$102$100
Future income tax benefit recognized293735