Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity

The following table presents a summary of 2015 activity for stock options and the balance of stock options exercisable as of December 31, 2015.

Table 16.1: Summary of Stock Options Activity

(Shares in thousands, and intrinsic value in millions)	Shares Subject to Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2015	10,538		$	55.87
Granted	466		74.96
Exercised	(1,029	)	61.95
Forfeited	(49	)	87.98
Expired	(604	)	86.74
Outstanding as of December 31, 2015	9,322		$	53.98	3.7 years	$	188
Exercisable as of December 31, 2015	8,054		$	51.82	2.9 years	$	181

Summary of Stock Options Cash Flow Impact

Table 16.2: Stock Options Cash Flow Impact

	Year ended December 31,
(Dollars in millions)	2015		2014		2013
Cash received for options exercised	$	64	$	131	$	105
Tax benefit realized for options exercised	9		9		18

Weighted Average Assumptions Used to value Stock Options Granted

The following table presents the weighted-average assumptions used to value stock options granted during 2015, 2014 and 2013.

Table 16.3: Fair Value of Stock Options Granted

	Year Ended December 31,
	2015		2014		2013
Dividend yield(1)	1.82	%	1.74	%	2.29	%
Volatility(2)	24.00		26.00		32.00
Risk-free interest rate(3)	1.55		1.92		1.07
Expected option lives(4)	6.3 years		6.1 years		5.6 years

__________

⁽¹⁾  Represents the expected dividend rate over the life of the option.

⁽²⁾  Based on the implied volatility of exchange-traded options and warrants.

⁽³⁾  Based on the U.S. Treasury yield curve.

⁽⁴⁾  Represents the period of time that options granted are expected to remain outstanding based on historical activities.

Summary of Activity for Restricted Stock Awards and Units

The following table presents a summary of 2015 activity for RSAs and RSUs.

Table 16.4: Summary of Restricted Stock Awards and Units

	Restricted Stock Awards				Restricted Stock Units
(Shares/units in thousands)	Shares		Weighted-Average Grant Date Fair Value per Share		Units		Weighted-Average Grant Date Fair Value per Unit
Unvested as of January 1, 2015	794		$	57.28	1,486		$	65.86
Granted	0		0.00		1,316		76.15
Vested	(375	)	53.14		(341	)	71.99
Forfeited	(32	)	57.46		(151	)	73.17
Unvested as of December 31, 2015	387		$	61.28	2,310		$	70.34

Schedule of Activity for Performance Share and Performance Units

The following table presents a summary of 2015 activity for PSAs and PSUs.

Table 16.5: Summary of Performance Share Awards and Units

	Performance Share Awards				Performance Share Units
(Shares/units in thousands)	Shares		Weighted-Average Grant Date Fair Value per Share		Units		Weighted-Average Grant Date Fair Value per Unit
Unvested as of January 1, 2015	588		$	53.33	1,524		$	62.25
Granted(1)	0		0.00		1,213		65.98
Vested(1)	(395	)	51.42		(947	)	50.41
Forfeited	(10	)	56.32		(84	)	76.77
Unvested as of December 31, 2015	183		$	57.30	1,706		$	70.95

__________

⁽¹⁾  Includes adjustments for achievement of specific performance goals for performance share units granted in prior periods.