TABLE I — Financial Information Related to Stock-based Compensation | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
Shares | Weighted- Average Exercise Price | Shares | Weighted- Average Exercise Price | Shares | Weighted- Average Exercise Price | |||||||||||||||
Stock options/SARs activity: | ||||||||||||||||||||
Outstanding at beginning of year | 45,827,599 | $ | 59.45 | 50,372,991 | $ | 53.01 | 57,882,998 | $ | 48.50 | |||||||||||
Granted to officers and key employees 1 | 4,276,060 | $ | 89.75 | 3,318,188 | $ | 110.09 | 2,960,595 | $ | 102.13 | |||||||||||
Exercised | (6,476,082 | ) | $ | 41.10 | (7,708,343 | ) | $ | 38.73 | (10,149,476 | ) | $ | 41.78 | ||||||||
Forfeited / expired | (251,830 | ) | $ | 84.64 | (155,237 | ) | $ | 67.50 | (321,126 | ) | $ | 48.02 | ||||||||
Outstanding at end of year | 43,375,747 | $ | 65.03 | 45,827,599 | $ | 59.45 | 50,372,991 | $ | 53.01 | |||||||||||
Exercisable at year-end | 34,200,054 | $ | 55.93 | 33,962,000 | $ | 51.75 | 35,523,057 | $ | 52.66 | |||||||||||
RSUs activity: | ||||||||||||||||||||
Outstanding at beginning of year | 3,580,220 | 4,281,490 | 4,650,241 | |||||||||||||||||
Granted to officers and key employees | 1,614,870 | 1,429,939 | 1,082,032 | |||||||||||||||||
Vested | (1,286,934 | ) | (2,077,485 | ) | (1,382,539 | ) | ||||||||||||||
Forfeited | (84,828 | ) | (53,724 | ) | (68,244 | ) | ||||||||||||||
Outstanding at end of year | 3,823,328 | 3,580,220 | 4,281,490 | |||||||||||||||||
Stock options/SARs outstanding and exercisable: | ||||||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||
Exercise Prices | Shares Outstanding at 12/31/13 | Weighted- Average Remaining Contractual Life (Years) | Weighted- Average Exercise Price | Aggregate Intrinsic Value 2 | Shares Outstanding at 12/31/13 | Weighted- Average Remaining Contractual Life (Years) | Weighted- Average Exercise Price | Aggregate Intrinsic Value 2 | ||||||||||||||||||
$22.17 – 38.63 | 7,775,953 | 3.20 | $ | 29.03 | $ | 481 | 7,775,953 | 3.20 | $ | 29.03 | $ | 481 | ||||||||||||||
$40.64 – 57.85 | 11,656,943 | 4.06 | $ | 52.71 | 444 | 11,656,943 | 4.06 | $ | 52.71 | 444 | ||||||||||||||||
$63.04 – 72.05 | 9,687,583 | 2.48 | $ | 69.05 | 211 | 9,687,583 | 2.48 | $ | 69.05 | 211 | ||||||||||||||||
$73.20 – 89.75 | 8,280,894 | 6.69 | $ | 81.70 | 75 | 4,174,124 | 4.37 | $ | 73.86 | 71 | ||||||||||||||||
$102.13 – 110.09 | 5,974,374 | 7.71 | $ | 106.28 | — | 905,451 | 7.62 | $ | 105.59 | — | ||||||||||||||||
43,375,747 | $ | 65.03 | $ | 1,211 | 34,200,054 | $ | 55.93 | $ | 1,207 | |||||||||||||||||
1 | No SARS were granted during the years ended December 31, 2013 or 2012. Of the 2,960,595 awards granted during the year ended December 31, 2011, 2,722,689 were SARs. |
2 | The difference between a stock award’s exercise price and the underlying stock’s market price at December 31, 2013, for awards with market price greater than the exercise price. Amounts are in millions of dollars. |