| Year Ended December | ||||||||||||
| in millions | 2013 | 2012 | 2011 | |||||||||
|
Share-based compensation |
$2,039 | $1,338 | $2,843 | |||||||||
|
Excess net tax benefit related to options exercised |
3 | 53 | 55 | |||||||||
|
Excess net tax benefit/(provision) related to share-based awards 1 |
94 | (11 | ) | 138 | ||||||||
| 1. |
Represents the net tax benefit/(provision) recognized in additional paid-in capital on stock options exercised and the delivery of common stock underlying share-based awards. |
|
Restricted Stock Units Outstanding |
Weighted Average Grant-Date Fair Value of Restricted Stock Units Outstanding |
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| |
Future Service Required |
|
|
No Future Service Required |
|
|
Future Service Required |
|
|
No Future Service Required |
|
|||||||
|
Outstanding, December 2012 |
8,689,521 | 4 | 15,390,351 | $116.07 | $121.99 | |||||||||||||
|
Granted 1, 2 |
6,230,961 | 11,226,808 | 125.49 | 120.98 | ||||||||||||||
|
Forfeited |
(785,926 | ) | (152,194 | ) | 120.54 | 117.56 | ||||||||||||
|
Delivered 3 |
— | (11,369,831 | ) | — | 129.01 | |||||||||||||
|
Vested 2, 4 |
(5,907,687 | ) | 5,907,687 | 121.45 | 121.45 | |||||||||||||
|
Outstanding, December 2013 |
8,226,869 | 4 | 21,002,821 | 118.91 | 117.53 | |||||||||||||
| 1. |
The weighted average grant-date fair value of RSUs granted during 2013, 2012 and 2011 was $122.59, $84.72 and $141.21, respectively. The fair value of the RSUs granted during 2013, 2012 and 2011 includes a liquidity discount of 13.7%, 21.7% and 12.7%, respectively, to reflect post-vesting transfer restrictions of up to 4 years. |
| 2. |
The aggregate fair value of awards that vested during 2013, 2012 and 2011 was $2.26 billion, $1.57 billion and $2.40 billion, respectively. |
| 3. |
Includes RSUs that were cash settled. |
| 4. |
Includes restricted stock subject to future service requirements as of December 2013 and December 2012 of 4,768 and 276,317 shares, respectively. 271,549 shares of restricted stock vested during 2013. |
| Exercise Price | |
Options Outstanding |
|
|
Weighted Average Exercise |
|
|
Weighted Average
Remaining (years) |
|
|||
|
$ 75.00 - $ 89.99 |
34,002,081 | $ 78.78 | 5.00 | |||||||||
|
90.00 - 119.99 |
— | — | — | |||||||||
|
120.00 - 134.99 |
2,527,036 | 131.64 | 1.92 | |||||||||
|
135.00 - 149.99 |
— | — | — | |||||||||
|
150.00 - 164.99 |
55,000 | 154.16 | 0.17 | |||||||||
|
165.00 - 194.99 |
— | — | — | |||||||||
|
195.00 - 209.99 |
5,981,124 | 202.27 | 3.48 | |||||||||
|
Outstanding, December 2013 |
42,565,241 | 99.37 | 4.60 | |||||||||
| |
Options Outstanding |
|
|
Weighted Average Exercise Price |
|
|
Aggregate Intrinsic Value (in millions) |
|
|
Weighted Average Remaining Life (years) |
|
|||||
|
Outstanding, December 2012 |
43,217,111 | $ 99.51 | $1,672 | 5.55 | ||||||||||||
|
Exercised |
(579,066 | ) | 112.43 | |||||||||||||
|
Forfeited |
(71,865 | ) | 78.78 | |||||||||||||
|
Expired |
(939 | ) | 96.08 | |||||||||||||
|
Outstanding, December 2013 |
42,565,241 | 99.37 | 3,465 | 4.60 | ||||||||||||
|
Exercisable, December 2013 |
42,565,241 | 99.37 | 3,465 | 4.60 | ||||||||||||