| Activity in stock option plans |
The tables below summarize the employee share-based activity in the Plan:
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Options |
|
Weighted-average
Exercise Price
|
|
Weighted-average
Remaining
Contractual Life
(in years)
|
|
Aggregate
Intrinsic Value
(in millions)
|
Balance at December 31, 2013 |
|
1,462,336 |
|
|
$ |
95.35 |
|
|
|
|
|
|
Granted |
|
350,630 |
|
|
148.98 |
|
|
|
|
|
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Exercised |
|
(175,526 |
) |
|
82.06 |
|
|
|
|
|
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Forfeited |
|
(10,716 |
) |
|
102.56 |
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|
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|
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Balance at December 31, 2014 |
|
1,626,724 |
|
|
108.30 |
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|
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|
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Granted |
|
476,205 |
|
|
135.21 |
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|
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Exercised |
|
(53,545 |
) |
|
82.89 |
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Forfeited |
|
(19,698 |
) |
|
135.89 |
|
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|
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Balance at December 31, 2015 |
|
2,029,686 |
|
|
115.02 |
|
|
|
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|
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Granted |
|
984,430 |
|
|
109.24 |
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Exercised |
|
(215,890 |
) |
|
87.27 |
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Forfeited |
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(63,462 |
) |
|
119.56 |
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Balance at December 31, 2016 |
|
2,734,764 |
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|
$ |
115.02 |
|
|
7.12 |
|
$ |
64 |
|
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Exercisable, December 31, 2014 |
|
903,059 |
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|
$ |
92.18 |
|
|
6.05 |
|
$ |
48 |
|
Exercisable, December 31, 2015 |
|
1,318,101 |
|
|
$ |
100.55 |
|
|
5.73 |
|
$ |
13 |
|
Exercisable, December 31, 2016 |
|
1,149,549 |
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|
$ |
104.19 |
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|
4.81 |
|
$ |
38 |
|
|
| Weighted-average grant date fair value of performance and restricted shares |
The weighted-average grant date fair value of performance and restricted shares was as follows:
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Performance Shares |
|
Restricted Shares |
Nonvested |
|
Shares |
|
Weighted-average
Fair Value |
|
Shares |
|
Weighted-average
Fair Value |
Balance at December 31, 2013 |
|
475,913 |
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|
$ |
109.93 |
|
|
32,541 |
|
|
$ |
81.49 |
|
Granted |
|
206,031 |
|
|
130.38 |
|
|
— |
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|
— |
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Vested |
|
(207,093 |
) |
|
107.64 |
|
|
(21,266 |
) |
|
65.88 |
|
Forfeited |
|
(8,158 |
) |
|
121.18 |
|
|
— |
|
|
— |
|
Balance at December 31, 2014 |
|
466,693 |
|
|
119.78 |
|
|
11,275 |
|
|
110.94 |
|
Granted |
|
133,975 |
|
|
128.48 |
|
|
— |
|
|
— |
|
Vested |
|
(112,901 |
) |
|
115.48 |
|
|
(7,021 |
) |
|
110.66 |
|
Forfeited |
|
(67,398 |
) |
|
118.71 |
|
|
— |
|
|
— |
|
Balance at December 31, 2015 |
|
420,369 |
|
|
123.88 |
|
|
4,254 |
|
|
111.40 |
|
Granted |
|
169,150 |
|
|
98.26 |
|
|
8,089 |
|
|
117.69 |
|
Vested |
|
(115,680 |
) |
|
106.55 |
|
|
(2,502 |
) |
|
114.57 |
|
Forfeited |
|
(69,345 |
) |
|
110.52 |
|
|
— |
|
|
— |
|
Balance at December 31, 2016 |
|
404,494 |
|
|
$ |
120.41 |
|
|
9,841 |
|
|
$ |
115.76 |
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|