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STOCKHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2012
STOCKHOLDERS' EQUITY

Note 9—STOCKHOLDERS’ EQUITY

Preferred Stock

We have authorized 500 million shares of $0.01 par value Preferred Stock. No preferred stock was outstanding for any period presented.

Common Stock

Common shares outstanding plus shares underlying outstanding stock awards totaled 470 million, 468 million, and 465 million, at December 31, 2012, 2011, and 2010. These totals include all vested and unvested stock-based awards outstanding, including those awards we estimate will be forfeited.

Stock Repurchase Activity

In January 2010, our Board of Directors authorized the Company to repurchase up to $2.0 billion of our common stock with no fixed expiration. We have $763 million remaining under the $2.0 billion repurchase program.

Stock Award Plans

Employees vest in restricted stock unit awards over the corresponding service term, generally between two and five years.

Stock Award Activity

The following summarizes our restricted stock unit activity (in millions):

 

     Number of
Units		     Weighted Average
Grant-Date
Fair Value		  

Outstanding at January 1, 2010

      15.7      $ 66.75   

Units granted

      5.3        140.43   

Units vested

      (5.7 )      60.44   

Units forfeited

      (1.3 )      82.85   
  

 

 

    

 

 

  

Outstanding at December 31, 2010

      14.0      $ 95.86   
  

 

 

    

 

 

  

Units granted

      5.4        192.82   

Units vested

      (5.1 )      72.51   

Units forfeited

      (1.2 )      122.17   
  

 

 

    

 

 

  

Outstanding at December 31, 2011

      13.1      $ 142.54   
  

 

 

    

 

 

  

Units granted

      8.2        209.30   

Units vested

      (4.2 )      109.67   

Units forfeited

      (1.7 )      168.20   
  

 

 

    

 

 

  

Outstanding at December 31, 2012

      15.4      $ 184.29   
  

 

 

    

 

 

  

 

Scheduled vesting for outstanding restricted stock units at December 31, 2012 is as follows (in millions):

 

     Year Ended December 31,                
     2013      2014      2015      2016      2017      Thereafter      Total  

Scheduled vesting—restricted stock units

      4.8         5.2         3.2         1.7         0.3         0.2         15.4   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

As of December 31, 2012, there was $1.3 billion of net unrecognized compensation cost related to unvested stock-based compensation arrangements. This compensation is recognized on an accelerated basis with approximately half of the compensation expected to be expensed in the next twelve months, and has a weighted average recognition period of 1.2 years.

During 2012 and 2011, the fair value of restricted stock units that vested was $928 million and $1.0 billion.

As matching contributions under our 401(k) savings plan, we granted 0.1 million shares of common stock in 2012 and 2011. Shares granted as matching contributions under our 401(k) plan are included in outstanding common stock when issued.

Common Stock Available for Future Issuance

At December 31, 2012, common stock available for future issuance to employees is 149 million shares.