Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2014

Share-Based Compensation Plans [Abstract]

Stock option activity

A summary of stock option activity is as follows:

						Wtd. Avg.
				Wtd. Avg.		Remaining		Aggregate
				Exercise Price		Contractual Term		Intrinsic Value
	Shares (000)			Per Share		(years)		(in millions)
Outstanding, January 1, 2012		5,265		$	50
Granted		302			45
Exercised		(116	)		34			$	1
Expired or cancelled		(107	)		51
Outstanding, December 31, 2012		5,344		$	50		5.0	$	14
Vested or expected to vest, December 31, 2012		5,326		$	50		4.9
Exercisable, December 31, 2012		4,210		$	51		4.3	$	11
Outstanding, January 1, 2013		5,344		$	50
Granted		221			53
Exercised		(2,576	)		43			$	63
Expired or cancelled		(206	)		51
Outstanding, December 31, 2013		2,783		$	57		5.1	$	81
Vested or expected to vest, December 31, 2013		2,769		$	57		4.8
Exercisable, December 31, 2013		2,153		$	58		4.2	$	60
Outstanding, January 1, 2014		2,783		$	57
Granted		204			77
Exercised		(473	)		53			$	13
Expired or cancelled		(30	)		43
Outstanding, December 31, 2014		2,484		$	59		4.7	$	28
Vested or expected to vest, December 31, 2014		2,476		$	59		4.5
Exercisable, December 31, 2014		1,957		$	59		3.7	$	23

Options outstanding and exercisable

Options outstanding and exercisable as of December 31, 2014 are as follows:

	Options Outstanding						Options Exercisable
			Weighted-
			Average
			Remaining		Weighted-				Weighted-
			Contractual		Average				Average
Exercise Price	Shares (000)		Life (years)		Exercise Price		Shares (000)		Exercise Price
$27–$34		150		3.8	$	31		150	$	31
$35–$44		212		5.4		45		93		45
$45–$55		818		5.2		53		658		53
$56–$93		1,304		4.0		69		1,056		67
		2,484		4.7	$	59		1,957	$	59

Assumptions used to estimate fair value of share awards

We estimated the fair value of each stock option on the date of grant using the Black-Scholes option pricing model and the following assumptions:

Year Ended December 31	2014			2013			2012
Average risk-free interest rate		1.8	%		1.1	%		1.1	%
Expected dividend yield		1.2	%		1.7	%		1.8	%
Expected volatility		37.0	%		42.0	%		44.0	%
Expected term (years)		5.9			5.9			5.9

Restricted stock activity

A summary of restricted stock activity is as follows:

						Wtd. Avg
						Remaining		Aggregate
				Wtd. Avg.		Contractual		Intrinsic Value
	Shares (000)			Price Per Share		Term (years)		(in millions)
Unvested, January 1, 2012		409		$	59		1.8
Granted		309			44
Vested		(124	)		40
Forfeited		(5	)		67
Unvested, December 31, 2012		589		$	55		1.7
Granted		192		$	52
Vested		(90	)		52
Forfeited		(64	)		56
Unvested, December 31, 2013		627		$	54		1.3
Granted		169		$	77
Vested		(283	)		63
Forfeited		(50	)		53
Unvested, December 31, 2014		463		$	57		1.2	$	32

Performance share units detail by grant year

A summary of the performance share units detail by grant year is as follows:

				July 2012 and
	2012			February 2013			2013(a)			2014(b)
Grant Date(s)		February 15,			July 1, 2012 and			February 14,			February 11,
		2012			February 14,			2013			2014 and
					2013						May 1, 2014
Performance Period (Years)		2012			2012–2014			2013			2014–2016
Vesting Date(s)		50% on			50% on			50% on			100% on
		December 31,			July 1,			December 31,			December 31,
		2013 and 2014			2015 and 2016			2014 and 2015			2016
Payout Levels (in units):
Threshold Award		84,480			66,949			76,120			94,608
Target Award		168,960			133,898			152,240			189,215
Outstanding Award		337,920			267,796			304,480			378,430
Units Forfeited in 2014 (at Target Award level)		—			—			—			—
Shares Issued in 2014		72,843			—			101,239			—
Shares Subject to Holding Period as of December 31, 2014		—			—			108,853			—
% of the Target Performance Level based on the Current/Expected Average Operating Profit Margin over the Performance Period		96	%		0	%		140	%		200	%

(a) Included in these figures are 7,612 of performance share units that were granted on February 14, 2013 with a separate performance period, performance criteria and vesting date. The performance period is 2013 through 2015, with a vesting date of July 1, 2016. The award’s current performance level is at Target.

(b) Included in these figures are 3,046 of performance share units that were granted on October 29, 2014 with a separate performance period, performance criteria and vesting date. The performance period is June 1, 2015 through December 31, 2016, with a vesting date of October 29, 2017. The award’s current performance level is at Target.