Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

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



	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2014		2013		2014		2013
	(In millions)
Stock-based compensation expense	$	16	$	35	$	50	$	63
Tax benefit	$	6	$	14	$	19	$	25
Stock-based compensation cost capitalized in property, plant and equipment	$	2	$	2	$	7	$	4

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following table summarizes our stock option activity for the six months ended June 30, 2014:



	Number of Options		Weighted Average Exercise Price		Aggregate Intrinsic Value (In millions)
Options outstanding at January 1, 2014	723,697		$	42.60
Exercised	(204,108	)	$	41.54
Forfeited or expired	(10,730	)	$	39.41
Options outstanding and exercisable at June 30, 2014	508,859		$	43.10	$	17

Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

The following table summarizes the Company’s restricted stock awards activity for the six months ended June 30, 2014:



	Restricted Stock		Weighted Average Grant Date Fair Value
Balance at January 1, 2014	492,329		$	53.76
Grants	156,390		$	69.95
Forfeitures	(13,764	)	$	62.25
Vested and issued	(216,103	)	$	47.58
Balance at June 30, 2014	418,852		$	62.71

Performance Share Awards

Performance shares awarded under the plan are for a specified number of shares of common stock that entitle the holder to receive a cash payment, shares of common stock or a combination thereof. The final value of the award is determined by the achievement of certain performance objectives and market conditions. The awards vest at the end of a specified period, usually three years. Awards granted in 2014 were primarily deemed to be equity awards. The stock price and number of probable shares attributable to market conditions for such equity awards are fair valued only at the grant date. Performance shares awarded prior to 2014 are liability awards and are remeasured to fair value at each reporting period.

The following table summarizes the Company’s performance share activity for the six months ended June 30, 2014:



	Performance Shares		Weighted Average Grant Date Fair Value
Balance at January 1, 2014	1,608,789		$	—
Grants	532,585		$	69.16
Forfeitures	(27,390	)	$	69.10
Payouts	(571,177	)	$	—
Balance at June 30, 2014	1,542,807		$	69.17

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References+ Details