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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Fair Value of Each Stock Option Award is Estimated on Grant Date, Using Option Valuation Models

The expected life is an estimate of the number of years a share-based award will be held before it is exercised.

 

     2014     2013     2012  

Risk-free interest rate

     1.96     1.20     1.18

Expected volatility

     37     45     50

Expected life, in years

     6.25        6.25        6.25   

Expected dividend yield

                     
Schedule of Stock Option Activity

Information regarding Time Stock Options and SARs and Performance Stock Options and SARs activity during 2014, 2013 and 2012 is summarized below (share amounts in thousands):

 

    Time
Stock
Options
and
SARs
    Performance
Stock
Options and
SARs
    Total
Stock
Options
and
SARs
    Weighted
Average
Exercise
Price
    Weighted
Average
Remaining
Contractual Term
    Aggregate
Intrinsic Value
(dollars in millions)
 

Options outstanding, December 31, 2011

    21,739        24,573        46,312      $ 9.26       

Granted

    3,174        3,174        6,348        27.03       

Exercised

    (5,530     (5,128     (10,658     7.60       

Cancelled

    (192     (568     (760     9.49       
 

 

 

   

 

 

   

 

 

       

Options outstanding, December 31, 2012

    19,191        22,051        41,242        11.56       

Granted

    2,432        2,432        4,864        37.49       

Exercised

    (4,498     (5,843     (10,341     8.49       

Cancelled

    (316     (263     (579     25.50       
 

 

 

   

 

 

   

 

 

       

Options and SARs outstanding, December 31, 2013

    16,809        18,377        35,186        15.82       

Granted

    1,723        1,722        3,445        48.56       

Exercised

    (3,322     (5,234     (8,556     9.15       

Cancelled

    (159     (121     (280     29.54       
 

 

 

   

 

 

   

 

 

       

Options and SARs outstanding, December 31, 2014

    15,051        14,744        29,795        21.39        5.3 years      $ 1,549   
 

 

 

   

 

 

   

 

 

       

Options and SARs exercisable, December 31, 2014

    10,102        9,796        19,898      $ 13.79        3.9 years      $ 1,186   

Schedule of Restricted Stock Units Activity

Information regarding Time RSUs and Performance RSUs activity during 2014, 2013 and 2012 is summarized below (share amounts in thousands):

 

     Time RSUs      Performance
RSUs
     Total RSUs     Weighted
Average
Grant
Date Fair
Value
 

RSUs outstanding, December 31, 2011

     80                 80      $ 30.00   

Granted

     3,162         1,485         4,647        26.98   

Vested

     (4              (4     30.00   

Cancelled

     (164      (75      (239     26.99   
  

 

 

    

 

 

    

 

 

   

RSUs outstanding, December 31, 2012

     3,074         1,410         4,484        27.03   

Granted

     3,305         1,554         4,859        37.43   

Vested

     (831      (352      (1,183     27.30   

Cancelled

     (449      (213      (662     31.91   
  

 

 

    

 

 

    

 

 

   

RSUs outstanding, December 31, 2013

     5,099         2,399         7,498        33.30   

Granted

     2,603         1,229         3,832        48.53   

Vested

     (1,423      (692      (2,115     32.56   

Cancelled

     (384      (155      (539     38.30   
  

 

 

    

 

 

    

 

 

   

RSUs outstanding, December 31, 2014

     5,895         2,781         8,676        39.89