v2.4.0.8
Share-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Assumptions Used to Determine Weighted-Average Fair Value of Options Granted
The weighted average fair value of options granted in 2013, 2012 and 2011 was $6.21, $5.47 and $5.39 per option, respectively, and were determined using the following assumptions:
Years Ended December 31
2013
 
2012
 
2011
Expected dividend yield
4.2
%
 
4.4
%
 
4.3
%
Risk-free interest rate
1.2
%
 
1.3
%
 
2.5
%
Expected volatility
25.0
%
 
25.2
%
 
23.4
%
Expected life (years)
7.0

 
7.0

 
7.0

Summarized Information Relative to Stock Option Plan Activity
Summarized information relative to stock option plan activity (options in thousands) is as follows:
 
Number
of Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term (Years)
 
Aggregate
Intrinsic
Value
Outstanding January 1, 2013
165,941

 
$
39.46

 
 
 
 
Granted
5,703

 
45.01

 
 
 
 
Exercised
(33,278
)
 
36.37

 
 
 
 
Forfeited
(22,561
)
 
49.01

 
 
 
 
Outstanding December 31, 2013
115,805

 
$
38.75

 
3.79
 
$
1,320

Exercisable December 31, 2013
101,600

 
$
38.48

 
3.25
 
$
1,187

Additional Information Pertaining to Stock Option Plans
Additional information pertaining to stock option plans is provided in the table below:
Years Ended December 31
2013
 
2012
 
2011
Total intrinsic value of stock options exercised
$
374

 
$
528

 
$
125

Fair value of stock options vested
42

 
80

 
189

Cash received from the exercise of stock options
1,210

 
1,310

 
321

Summary of Nonvested RSU and PSU Activity
A summary of nonvested RSU and PSU activity (shares in thousands) is as follows:
 
 
RSUs
 
PSUs
  
 
Number
of Shares
 
Weighted
Average
Grant Date
Fair Value
 
Number
of Shares
 
Weighted
Average
Grant Date
Fair Value
Nonvested January 1, 2013
 
22,743

 
$
36.38

 
1,648

 
$
33.78

Granted
 
6,394

 
45.04

 
963

 
38.25

Vested
 
(8,705
)
 
34.10

 
(839
)
 
34.17

Forfeited
 
(1,298
)
 
40.02

 
(99
)
 
36.71

Nonvested December 31, 2013
 
19,134

 
$
40.07

 
1,673

 
$
35.98