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    
Compensation cost from continuing operations under the Stock Incentive Plan

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

 
   Three
months
ended
March31,		  
 
   2014   2013  

Compensation cost

   $ 7   $ 7  

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

 
   Year ended December 31,  
 
   2013   2012   2011  

Compensation cost

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

 

 

 
   Three months
ended March 31,
 
   2014   2013

Dividend yield

   2.4%   2.8%

Expected volatility

   60.3%   62.6%

Risk-free interest rate

   1.7%   1.0%

Expected life of stock options granted during the period

   5.7 years   5.6 years

 

 

 
   Year ended December 31,  
 
   2013   2012   2011  

Dividend yield

     2.8 %   3.0 %   2.3 %

Expected volatility

     62.5 %   65.3 %   65.6 %

Risk-free interest rate

     1.0 %   1.3 %   2.8 %

Expected life of stock options granted during the period

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

Outstanding at January 1, 2014

     10,019   $ 15.39              

Granted

     1,116     21.22              

Exercised

     (224 )   18.62              

Forfeited

     —     —              
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Outstanding at March 31, 2014

     10,911     15.92     5.3   $ 92  
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                         

Exercisable at March 31, 2014

     8,506     15.16     4.1     79  
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                         

 

 

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

Outstanding at January 1, 2013

     10,517   $ 14.52              

Granted

     1,239     17.87              

Exercised

     (1,365 )   9.65              

Forfeited

     (372 )   21.18              
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Outstanding at December 31, 2013

     10,019     15.39     4.9   $ 92  
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                         

Exercisable at December 31, 2013

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

 

 

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

Nonvested at January 1, 2014

     1,830   $ 15.31     574   $ 16.03  

Granted

     730     21.22     237     21.22  

Vested

     (715) (1)   16.07     (283 )   15.97  

Forfeited

     (5 )   15.99     (4 )   15.93  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Nonvested at March 31, 2014

     1,840     17.36     524     18.41  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       
(1)
As of March 31, 2014, a total of 388,299 restricted stock units were vested, of which 44,534 vested during the three months ended March 31, 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.

        

 

 

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

Nonvested at January 1, 2013

     1,789   $ 13.87     638   $ 14.50  

Granted

     803     17.88     270     17.85  

Vested

     (753) (1)   14.61     (314 )   14.57  

Forfeited

     (9 )   17.01     (20 )   15.60  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Nonvested at December 31, 2013

     1,830     15.31     574     16.03  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       
(1)
As of December 31, 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.