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Registration of securities issued in business combination transactions

STOCK-BASED COMPENSATION PLANS (Tables)

v2.4.0.8
STOCK-BASED COMPENSATION PLANS (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2014
Dec. 31, 2013
STOCK-BASED COMPENSATION PLAN Ìý Ìý
Compensation cost from continuing operations under the Stock Incentive Plan

ÌýÌýÌýThe compensation cost from continuing operations under the Stock Incentive Plan was as follows (dollars in millions):

Ìý
 Ìý Three
months
ended
March31,		 Ìý
Ìý
 Ìý 2014 Ìý 2013 Ìý

Compensation cost

 Ìý $ 7 Ìý $ 7 Ìý

The compensation cost from continuing operations under the Stock Incentive Plan for our Company was as follows (dollars in millions):

Ìý
 Ìý Year ended DecemberÌý31, Ìý
Ìý
 Ìý 2013 Ìý 2012 Ìý 2011 Ìý

Compensation cost

 Ìý Ìý 28 Ìý Ìý 26 Ìý Ìý 22 Ìý
Assumptions used to calculate fair value of each stock option award estimated on the date of grant using the Black-Scholes valuation model

Ìý

Ìý

Ìý
 Ìý Three months
ended MarchÌý31,
Ìý
 Ìý 2014 Ìý 2013

Dividend yield

 Ìý 2.4% Ìý 2.8%

Expected volatility

 Ìý 60.3% Ìý 62.6%

Risk-free interest rate

 Ìý 1.7% Ìý 1.0%

Expected life of stock options granted during the period

 Ìý 5.7Ìýyears Ìý 5.6Ìýyears

Ìý

Ìý

Ìý
 Ìý Year ended DecemberÌý31, Ìý
Ìý
 Ìý 2013 Ìý 2012 Ìý 2011 Ìý

Dividend yield

 Ìý Ìý 2.8 % Ìý 3.0 % Ìý 2.3 %

Expected volatility

 Ìý Ìý 62.5 % Ìý 65.3 % Ìý 65.6 %

Risk-free interest rate

 Ìý Ìý 1.0 % Ìý 1.3 % Ìý 2.8 %

Expected life of stock options granted during the period

 Ìý Ìý 5.6Ìýyears Ìý Ìý 6.6Ìýyears Ìý Ìý 6.6Ìýyears Ìý
Summary of stock option activity under the Stock Incentive Plan
Option Awards
Ìý Shares Ìý Weighted
Average
Exercise
Price		 Ìý Weighted
Average
Remaining
Contractual
Term		 Ìý Aggregate
Intrinsic
Value		 Ìý
Ìý
 Ìý (in thousands)
 Ìý Ìý
 Ìý (years)
 Ìý (in millions)
 Ìý

Outstanding at JanuaryÌý1, 2014

 Ìý Ìý 10,019 Ìý $ 15.39 Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Granted

 Ìý Ìý 1,116 Ìý Ìý 21.22 Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Exercised

 Ìý Ìý (224 ) Ìý 18.62 Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Forfeited

 Ìý Ìý â€� Ìý Ìý â€� Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � � � � � � � �

Outstanding at MarchÌý31, 2014

 Ìý Ìý 10,911 Ìý Ìý 15.92 Ìý Ìý 5.3 Ìý $ 92 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � � � � � � � �
� � � � � � � � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Exercisable at MarchÌý31, 2014

 Ìý Ìý 8,506 Ìý Ìý 15.16 Ìý Ìý 4.1 Ìý Ìý 79 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � � � � � � � �
� � � � � � � � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Ìý

Ìý

Option Awards
Ìý Shares Ìý Weighted
Average
Exercise
Price		 Ìý Weighted
Average
Remaining
Contractual
Term		 Ìý Aggregate
Intrinsic
Value		 Ìý
Ìý
 Ìý (in thousands)
 Ìý Ìý
 Ìý (years)
 Ìý (in millions)
 Ìý

Outstanding at JanuaryÌý1, 2013

 Ìý Ìý 10,517 Ìý $ 14.52 Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Granted

 Ìý Ìý 1,239 Ìý Ìý 17.87 Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Exercised

 Ìý Ìý (1,365 ) Ìý 9.65 Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Forfeited

 Ìý Ìý (372 ) Ìý 21.18 Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � � � � � � � �

Outstanding at DecemberÌý31, 2013

 Ìý Ìý 10,019 Ìý Ìý 15.39 Ìý Ìý 4.9 Ìý $ 92 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � � � � � � � �
� � � � � � � � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Exercisable at DecemberÌý31, 2013

 Ìý Ìý 7,614 Ìý Ìý 15.14 Ìý Ìý 3.8 Ìý Ìý 72 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � � � � � � � �
� � � � � � � � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
Summary of status of nonvested shares under the Stock Incentive Plan

Ìý

Ìý

Ìý
 Ìý Equity Awards Ìý Liability Awards Ìý
Ìý
 Ìý Shares Ìý Weighted
Average
Grant-Date
Fair Value		 Ìý Shares Ìý Weighted
Average
Grant-Date
Fair Value		 Ìý
Ìý
 Ìý (in thousands)
 Ìý Ìý
 Ìý (in thousands)
 Ìý Ìý
 Ìý

Nonvested at JanuaryÌý1, 2014

 Ìý Ìý 1,830 Ìý $ 15.31 Ìý Ìý 574 Ìý $ 16.03 Ìý

Granted

 Ìý Ìý 730 Ìý Ìý 21.22 Ìý Ìý 237 Ìý Ìý 21.22 Ìý

Vested

 Ìý Ìý (715) (1) Ìý 16.07 Ìý Ìý (283 ) Ìý 15.97 Ìý

Forfeited

 Ìý Ìý (5 ) Ìý 15.99 Ìý Ìý (4 ) Ìý 15.93 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � � � � � � � �

Nonvested at MarchÌý31, 2014

 Ìý Ìý 1,840 Ìý Ìý 17.36 Ìý Ìý 524 Ìý Ìý 18.41 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � � � � � � � �
� � � � � � � � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
(1)
As of MarchÌý31, 2014, a total of 388,299 restricted stock units were vested, of which 44,534 vested during the three months ended MarchÌý31, 2014. These shares have not been reflected as vested shares in this table because, in accordance with the restricted stock unit agreements, shares of common stock are not issued for vested restricted stock units until termination of employment.

ÌýÌýÌýÌýÌýÌýÌýÌý

Ìý

Ìý

Ìý
 Ìý Equity Awards Ìý Liability Awards Ìý
Ìý
 Ìý Shares Ìý Weighted
Average
Grant-Date
Fair Value		 Ìý Shares Ìý Weighted
Average
Grant-Date
Fair Value		 Ìý
Ìý
 Ìý (in thousands)
 Ìý Ìý
 Ìý (in thousands)
 Ìý Ìý
 Ìý

Nonvested at JanuaryÌý1, 2013

 Ìý Ìý 1,789 Ìý $ 13.87 Ìý Ìý 638 Ìý $ 14.50 Ìý

Granted

 Ìý Ìý 803 Ìý Ìý 17.88 Ìý Ìý 270 Ìý Ìý 17.85 Ìý

Vested

 Ìý Ìý (753) (1) Ìý 14.61 Ìý Ìý (314 ) Ìý 14.57 Ìý

Forfeited

 Ìý Ìý (9 ) Ìý 17.01 Ìý Ìý (20 ) Ìý 15.60 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � � � � � � � �

Nonvested at DecemberÌý31, 2013

 Ìý Ìý 1,830 Ìý Ìý 15.31 Ìý Ìý 574 Ìý Ìý 16.03 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � � � � � � � �
� � � � � � � � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý Ìý
(1)
As of DecemberÌý31, 2013, a total of 591,106 restricted stock units were vested, of which 74,768 vested during 2013. These shares have not been reflected as vested shares in this table because, in accordance with the restricted stock unit agreements, shares of common stock are not issued for vested restricted stock units until termination of employment.