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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Details of Grants of Stock-based Compensation
The following are the details of grants of stock-based compensation during the six months ended June 30, 2015 and 2014:
 
 
Six Months Ended June 30
 
 
2015
 
2014
Grant Details
 
Shares
 
Fair Value
 
Shares
 
Fair Value
Stock options
 
583,172

 
$
26.98

 
716,102

 
$
21.53

Restricted stock units
 
193,990

 
$
114.02

 
253,492

 
$
90.19

Contingent shares (a)
 
63,308

 
$
118.12

 
77,642

 
$
93.53

(a) The number of contingent shares represents the target value of the award.
 
Three Months
Ended June 30
 
Six Months
Ended June 30
($ in millions)
2015
 
2014
 
2015
 
2014
Total stock-based compensation
$
25

 
$
20

 
$
40

 
$
38

Income tax benefit recognized
$
9

 
$
7

 
$
14

 
$
13

Weighted Average Assumptions Used in Calculating the Fair Value of Stock Option
The fair value of the stock option grants issued in the six months ended June 30, 2015 was calculated with the following weighted average assumptions:
Weighted average exercise price
$
118.12

Risk-free interest rate
1.9
%
Expected life of option in years
6.5

Expected dividend yield
2.7
%
Expected volatility
29.2
%