|
Stock-Based Compensation (Tables)
|
6 Months Ended |
|
Jun. 30, 2014
|
| Stock-Based Compensation [Abstract] |
|
| Stock-Based Compensation [Table Text Block] |
Information regarding stock-based compensation appears in the table below: | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | | Millions | 2014 | 2013 | | 2014 | 2013 | | Stock-based compensation, before tax: | | | | | | | | | | | Stock options | $ | 6 | $ | 6 | | $ | 12 | $ | 10 | | Retention awards | | 22 | | 20 | | | 51 | | 41 | | Total stock-based compensation, before tax | $ | 28 | $ | 26 | | $ | 63 | $ | 51 | | Excess tax benefits from equity compensation plans | $ | 43 | $ | 19 | | $ | 103 | $ | 65 |
|
| Stock Options Weight Average Assumptions [Table Text Block] |
The table below shows the annual weighted-average assumptions used for valuation purposes: | Weighted-Average Assumptions | | 2014 | | 2013 | | Risk-free interest rate | | 1.6% | | 0.8% | | Dividend yield | | 2.1% | | 2.1% | | Expected life (years) | | 5.2 | | 5.0 | | Volatility | | 30.0% | | 36.2% | | Weighted-average grant-date fair value of options granted | $ | 20.18 | $ | 17.49 |
|
| Stock Options Activity [Table Text Block] |
A summary of stock option activity during the six months ended June 30, 2014, is presented below: | | Options (thous.) | Weighted-Average
Exercise Price | Weighted-Average Remaining Contractual Term | Aggregate Intrinsic Value (millions) | | Outstanding at January 1, 2014 | 7,443 | $ | 40.07 | 5.8 yrs. | $ | 327 | | Granted | 989 | | 87.56 | N/A | | N/A | | Exercised | (2,491) | | 30.35 | N/A | | N/A | | Forfeited or expired | (60) | | 68.56 | N/A | | N/A | | Outstanding at June 30, 2014 | 5,881 | $ | 51.88 | 6.2 | $ | 281 | | Vested or expected to vest at June 30, 2014 | 5,818 | $ | 51.62 | 6.1 | $ | 280 | | Options exercisable at June 30, 2014 | 3,807 | $ | 39.49 | 4.8 | $ | 229 |
|
| Stock Option Exercises [Table Text Block] |
Additional information regarding stock option exercises appears in the table below: | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | | Millions | 2014 | 2013 | | 2014 | 2013 | | Intrinsic value of stock options exercised | $ | 124 | $ | 54 | | $ | 158 | $ | 82 | | Cash received from option exercises | | 13 | | 17 | | | 31 | | 31 | | Treasury shares repurchased for employee payroll taxes | | (6) | | (7) | | | (13) | | (12) | | Tax benefit realized from option exercises | | 47 | | 21 | | | 60 | | 32 | | Aggregate grant-date fair value of stock options vested | | - | | - | | | 17 | | 16 |
|
| Retention Awards Activity [Table Text Block] |
Changes in our retention awards during the six months ended June 30, 2014, were as follows: | | Shares (thous.) | Weighted-Average
Grant-Date Fair Value | | Nonvested at January 1, 2014 | 3,712 | $ | 49.02 | | Granted | 864 | | 87.97 | | Vested | (1,071) | | 31.14 | | Forfeited | (67) | | 57.16 | | Nonvested at June 30, 2014 | 3,438 | $ | 64.22 |
|
| Performance Retention Awards Present Value Calculation Assumptions [Table Text Block] |
The assumptions used to calculate the present value of estimated future dividends related to the February 2014, grant were as follows: | | 2014 | | Dividend per share per quarter | $ | 0.455 | | Risk-free interest rate at date of grant | | 0.7% |
|
| Performance Based Units Activity [Table Text Block] |
Changes in our performance retention awards during the six months ended June 30, 2014, were as follows: | | Shares (thous.) | Weighted-Average
Grant-Date Fair Value | | Nonvested at January 1, 2014 | 1,888 | $ | 53.70 | | Granted | 456 | | 83.06 | | Vested | (661) | | 44.94 | | Forfeited | (65) | | 60.86 | | Nonvested at June 30, 2014 | 1,618 | $ | 65.26 |
|