v2.4.0.6
Share-Based Compensation
|
12 Months Ended |
|
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
|
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
Share-Based Compensation The Company’s outstanding share-based awards consist mainly of non-qualified stock options, SARs and restricted shares. As of December 31, 2012, the Company had 43 million shares available for future grants of share-based awards under its share-based compensation plan, including, but not limited to, incentive or non-qualified stock options, SARs and up to 16 million of awards in restricted shares. As of December 31, 2012, there were also 20 million shares of common stock available for issuance under the ESPP. Stock Options and SARs Stock option and SAR activity for the year ended December 31, 2012 is summarized in the table below: | | | | | | | | | | | | | | | | Shares | | Weighted- Average Exercise Price | | Weighted- Average Remaining Contractual Life | | Aggregate Intrinsic Value | | (in millions) | | | | (in years) | | (in millions) | Outstanding at beginning of period | 91 |
| | $ | 42 |
| | | | | Granted | 2 |
| | 55 |
| | | | | Exercised | (29 | ) | | 36 |
| | | | | Forfeited | (1 | ) | | 43 |
| | | | | Outstanding at end of period | 63 |
| | 45 |
| | 4.0 |
| | $ | 625 |
| Exercisable at end of period | 53 |
| | 46 |
| | 3.5 |
| | 460 |
| Vested and expected to vest, end of period | 62 |
| | 45 |
| | 4.0 |
| | 622 |
|
Restricted Shares Restricted share activity for the year ended December 31, 2012 is summarized in the table below: | | | | | | | | | (shares in millions) | | Shares | | Weighted-Average Grant Date Fair Value per Share | Nonvested at beginning of period | | 17 |
| | $ | 36 |
| Granted | | 7 |
| | 52 |
| Vested | | (14 | ) | | 37 |
| Forfeited | | (1 | ) | | 44 |
| Nonvested at end of period | | 9 |
| | 46 |
|
Other Share-Based Compensation Data | | | | | | | | | | | | | | (in millions, except per share amounts) | | | | 2012 | | 2011 | | 2010 | Stock Options and SARs | | | | | | | Weighted-average grant date fair value of shares granted, per share | | $ | 18 |
| | $ | 15 |
| | $ | 13 |
| Total intrinsic value of stock options and SARs exercised | | 559 |
| | 327 |
| | 164 |
| Restricted Shares | | | | | | | Weighted-average grant date fair value of shares granted, per share | | 52 |
| | 42 |
| | 32 |
| Total fair value of restricted shares vested | | 716 |
| | 113 |
| | 99 |
| Employee Stock Purchase Plan | | | | | | | Number of shares purchased | | 3 |
| | 3 |
| | 4 |
| Share-Based Compensation Items | | | | | | | Share-based compensation expense, before tax | | $ | 421 |
| | $ | 401 |
| | $ | 326 |
| Share-based compensation expense, net of tax effects | | 299 |
| | 260 |
| | 278 |
| Income tax benefit realized from share-based award exercises | | 461 |
| | 170 |
| | 78 |
|
| | | | | | (in millions, except years) | | | Unrecognized compensation expense related to share awards | | $ | 307 |
| Weighted-average years to recognize compensation expense | | 1.1 |
|
Share-Based Compensation Recognition and Estimates The principal assumptions the Company used in calculating grant-date fair value for stock options and SARs were as follows: | | | | | | | | | | | | 2012 | | 2011 | | 2010 | Risk free interest rate | 0.7% - 0.9% | | 0.9% - 2.3% | | 1.0% - 2.1% | Expected volatility | 43.2% - 44.0% | | 44.3% - 45.1% | | 45.4% - 46.2% | Expected dividend yield | 1.2% - 1.7% | | 1.0% - 1.4% | | 0.1% - 1.7% | Forfeiture rate | 5.0% | | 5.0% | | 5.0% | Expected life in years | 5.3 - 5.6 | | 4.9 - 5.0 | | 4.6 - 5.1 |
Risk-free interest rates are based on U.S. Treasury yields in effect at the time of grant. Expected volatilities are based on the historical volatility of the Company’s common stock and the implied volatility from exchange-traded options on the Company’s common stock. Expected dividend yields are based on the per share cash dividend paid by the Company’s Board of Directors. The Company uses historical data to estimate option and SAR exercises and forfeitures within the valuation model. The expected lives of options and SARs granted represents the period of time that the awards granted are expected to be outstanding based on historical exercise patterns. Other Employee Benefit Plans The Company also offers a 401(k) plan for all employees. Compensation expense related to this plan was not material for the years 2012, 2011 and 2010. In addition, the Company maintains non-qualified, unfunded deferred compensation plans, which allow certain members of senior management and executives to defer portions of their salary or bonus and receive certain Company contributions on such deferrals, subject to plan limitations. The deferrals are recorded within Long-Term Investments with an approximately equal amount in Other Liabilities in the Consolidated Balance Sheets. The total deferrals are distributable based upon termination of employment or other periods, as elected under each plan and were $348 million and $281 million as of December 31, 2012 and 2011, respectively. |
X |
- Definition
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666
Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.
Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929
Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.
Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901
+ Details
Name: |
us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
|