Stock-Based Compensation (Notes)

3 Months Ended

Mar. 31, 2014

Share-based Compensation [Abstract]

Stock-based Compensation

STOCK-BASED COMPENSATION

The following table summarizes the components of stock-based compensation:

	Three Months Ended
	March 31,
	2014		2013
	(In millions)
Stock-based compensation expense	$	33	$	28
Tax benefit	$	13	$	11
Stock-based compensation cost capitalized in property, plant and equipment	$	5	$	2

Stock Options

The following table summarizes our stock option activity for the three months ended March 31, 2014:

	Number of Options		Weighted Average Exercise Price		Aggregate Intrinsic Value (In millions)
Options outstanding at January 1, 2014	723,697		$	42.60
Exercised	(163,594	)	$	41.13
Forfeited or expired	(10,730	)	$	39.41
Options outstanding and exercisable at March 31, 2014	549,373		$	43.10	$	14

As of March 31, 2014, the weighted average remaining contractual life for the exercisable shares is 3.84 years. As of March 31, 2014, all options were vested.

The intrinsic value of options exercised for the three months ended March 31, 2014 and 2013 was $5 million and $7 million, respectively. No option expense was recognized for the three months ended March 31, 2014 and 2013, respectively.

Restricted Stock Awards

The following table summarizes the Company’s restricted stock awards activity for the three months ended March 31, 2014:

	Restricted Stock		Weighted Average Grant Date Fair Value
Balance at January 1, 2014	492,329		$	53.76
Grants	132,490		$	69.01
Forfeitures	(8,196	)	$	61.83
Vested and issued	(162,767	)	$	46.88
Balance at March 31, 2014	453,856		$	60.53

Performance Share Awards

The following table summarizes the Company’s performance share activity for the three months ended March 31, 2014:

	Performance Shares
Balance at January 1, 2014	1,608,789
Grants	520,204
Forfeitures	(8,872	)
Payouts	(571,177	)
Balance at March 31, 2014	1,548,944

Unrecognized Compensation Costs

As of March 31, 2014, there was $100 million of total unrecognized compensation cost related to non-vested stock incentive plan arrangements. That cost is expected to be recognized over a weighted-average period of 1.67 years.