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Top CEO Pay Ratios

It’s been almost three years since Congress directed the Securities and Exchange Commission to require public companies to disclose the ratio of their chief executive officers’ compensation to the median of the rest of their employees’. The agency has yet to produce a rule.

Most companies don’t disclose median worker pay, so Bloomberg calculated ratios based on the U.S. government’s industry-specific averages for pay and benefits of rank-and-file workers. This table, searchable by company name, CEO or industry, shows the Standard & Poor’s 500 Index top 250 companies by ratio. Each was offered a chance to respond; their edited comments are listed. Read the full story.

Full methodology
Sector key
Number indicates rank, color indicates sector
Consumer discretionary
Financials
Technology
Communications
Health care
Consumer staples
Industrials
Materials
Energy
Utilities

*CEO at end of fiscal year of pay disclosure. No longer holds post.

RANK COMPANY, CEO & INDUSTRY PAY RATIO CEO PAY
& BENEFITS
AVG. WORKER
PAY & BENEFITS
COMPANY RESPONSE
1 JC Penney Co.
Ronald Johnson*
General Merchandise Stores
1,795 $53.3 M
FY ended 2012
$29,688
2012
2 Abercrombie &
Fitch Co.

Michael Jeffries
Clothing and Clothing Accessories Stores
1,640 $48.1 M
FY ended 2012
$29,310
2012
3 Simon Property
Group Inc.

David Simon
Funds, Trusts, and Other Financial Vehicles
1,594 $137.2 M
FY ended 2011
$86,033
2011
Read company comment
4 Oracle Corp.
Lawrence Ellison
Publishing Industries, Except Internet
1,287 $96.2 M
FY ended 2012
$74,693
2012
5 Starbucks Corp.
Howard Schultz
Food Services and Drinking Places
1,135 $28.9 M
FY ended 2012
$25,463
2012
Read company comment
6 CBS Corp.
Leslie Moonves
Broadcasting, Except Internet
1,111 $69.9 M
FY ended 2011
$62,930
2011
7 Ralph Lauren Corp.
Ralph Lauren
Apparel
1,083 $36.3 M
FY ended 2012
$33,550
2012
8 NIKE Inc.
Mark Parker
Apparel
1,050 $35.2 M
FY ended 2012
$33,550
2012
Read company comment
9 Discovery Communications Inc.
David Zaslav
Broadcasting, Except Internet
833 $52.4 M
FY ended 2011
$62,930
2011
10 Yum! Brands Inc.
David Novak
Food Services and Drinking Places
819 $20.4 M
FY ended 2011
$24,913
2011
11 Chipotle Mexican
Grill Inc.

Steve Ells
Food Services and Drinking Places
778 $19.4 M
FY ended 2011
$24,913
2011
Read company comment
12 McKesson Corp.
John Hammergren
Nondurable Goods
733 $39.7 M
FY ended 2012
$54,162
2012
13 Target Corp.
Gregg Steinhafel
General Merchandise Stores
664 $19.7 M
FY ended 2012
$29,688
2012
Read company comment
14 L Brands Inc.
Leslie Wexner
Clothing and Clothing Accessories Stores
656 $19.2 M
FY ended 2012
$29,310
2012
15 eBay Inc.
John Donahoe
Nonstore Retailers
656 $29.7 M
FY ended 2012
$45,304
2012
16 Honeywell International Inc.
David Cote
Machinery
633 $33.2 M
FY ended 2012
$52,518
2012
Read company comment
17 Walt Disney Co.
Robert Iger
Broadcasting, Except Internet
613 $40.2 M
FY ended 2012
$65,650
2012
18 Wal-Mart Stores Inc.
Michael Duke
General Merchandise Stores
611 $18.1 M
FY ended 2012
$29,688
2012
19 3M Co.
George Buckley*
Plastics and Rubber Products
604 $25.4 M
FY ended 2011
$42,017
2011
20 Macy's Inc.
Terry Lundgren
General Merchandise Stores
595 $17.7 M
FY ended 2012
$29,688
2012
21 American Express Co.
Kenneth Chenault
Credit Intermediation and Related Activities
590 $28.5 M
FY ended 2012
$48,317
2012
22 Coca-Cola Co.
Muhtar Kent
Beverages and Tobacco Products
580 $30.5 M
FY ended 2012
$52,537
2012
23 Pall Corp.
Lawrence Kingsley
Computer and Electronic Products
578 $33.9 M
FY ended 2012
$58,565
2012
24 Mondelez International Inc.
Irene Rosenfeld
Food Manufacturing
565 $21.9 M
FY ended 2011
$38,810
2011
Read company comment
25 Exxon Mobil Corp.
Rex Tillerson
Oil and Gas Extraction
524 $34.9 M
FY ended 2011
$66,605
2011
26 Tyco International Ltd.
Edward Breen*
Computer and Electronic Products
522 $30.6 M
FY ended 2012
$58,565
2012
27 Viacom Inc.
Philippe Dauman
Broadcasting, Except Internet
510 $33.5 M
FY ended 2012
$65,650
2012
28 Altera Corp.
John Daane
Computer and Electronic Products
506 $29.6 M
FY ended 2011
$58,430
2011
29 Wynn Resorts Ltd.
Stephen Wynn
Amusements, Gambling, and Recreation
499 $16.5 M
FY ended 2011
$33,006
2011
Read company comment
30 General Electric Co.
Jeffrey Immelt
Machinery
491 $25.8 M
FY ended 2012
$52,518
2012
31 Medtronic Inc.
Omar Ishrak
Miscellaneous Manufacturing
485 $25.0 M
FY ended 2012
$51,584
2012
Read company comment
32 Freeport-McMoRan Copper & Gold Inc.
Richard Adkerson
Mining, Except Oil and Gas
479 $30.6 M
FY ended 2011
$63,890
2011
33 Wells Fargo & Co.
John Stumpf
Credit Intermediation and Related Activities
473 $22.9 M
FY ended 2012
$48,317
2012
Read company comment
34 Capital One
Financial Corp.

Richard Fairbank
Credit Intermediation and Related Activities
468 $22.6 M
FY ended 2012
$48,317
2012
Read company comment
35 News Corp.
Rupert Murdoch
Broadcasting, Except Internet
457 $30.0 M
FY ended 2012
$65,650
2012
36 Comcast Corp.
Brian Roberts
Broadcasting, Except Internet
428 $26.9 M
FY ended 2011
$62,930
2011
37 Ross Stores Inc.
Michael Balmuth
Clothing and Clothing Accessories Stores
426 $12.5 M
FY ended 2012
$29,310
2012
38 VF Corp.
Eric Wiseman
Apparel
423 $14.2 M
FY ended 2012
$33,550
2012
39 Coach Inc.
Lew Frankfort
Clothing and Clothing Accessories Stores
419 $12.3 M
FY ended 2012
$29,310
2012
40 ConocoPhillips
James Mulva*
Oil and Gas Extraction
416 $27.7 M
FY ended 2011
$66,605
2011
41 Time Warner Inc.
Jeffrey Bewkes
Broadcasting, Except Internet
412 $25.9 M
FY ended 2011
$62,930
2011
42 Johnson Controls Inc.
Stephen Roell
Motor Vehicle Parts
409 $21.4 M
FY ended 2012
$52,319
2012
43 Philip Morris International Inc.
Louis Camilleri
Beverages and Tobacco Products
407 $21.6 M
FY ended 2011
$53,108
2011
Read company comment
44 Goodyear Tire & Rubber Co.
Richard Kramer
Plastics and Rubber Products
407 $17.1 M
FY ended 2012
$42,035
2012
45 Occidental
Petroleum Corp.

Stephen Chazen
Oil and Gas Extraction
406 $28.5 M
FY ended 2012
$70,194
2012
46 HJ Heinz Co.
William Johnson
Food Manufacturing
405 $16.2 M
FY ended 2012
$39,934
2012
47 Pfizer Inc.
Ian Read
Pharmaceuticals and Medicines
394 $25.6 M
FY ended 2012
$65,101
2012
48 Eaton Corp. PLC
Alexander Cutler
Electrical Equipment and Appliances
394 $20.4 M
FY ended 2012
$51,835
2012
Read company comment
49 LyondellBasell Industries NV
James Gallogly
Chemicals
392 $23.5 M
FY ended 2011
$59,913
2011
Read company comment
50 Ford Motor Co.
Alan Mulally
Motor Vehicles
390 $29.5 M
FY ended 2011
$75,565
2011
51 Newell
Rubbermaid Inc.

Michael Polk
Nonmetallic Mineral Products
389 $18.8 M
FY ended 2011
$48,299
2011
52 Kroger Co.
David Dillon
Food and Beverage Stores
386 $12.0 M
FY ended 2012
$31,127
2012
53 Abbott Laboratories
Miles White
Pharmaceuticals and Medicines
386 $25.1 M
FY ended 2012
$65,101
2012
54 TJX Cos.
Carol Meyrowitz
Clothing and Clothing Accessories Stores
378 $11.1 M
FY ended 2012
$29,310
2012
55 US Bancorp
Richard Davis
Credit Intermediation and Related Activities
377 $18.2 M
FY ended 2012
$48,317
2012
56 Safeway Inc.
Steven Burd
Food and Beverage Stores
375 $11.5 M
FY ended 2011
$30,703
2011
Read company comment
57 Prudential
Financial Inc.

John Strangfeld
Insurance Carriers and Related Activities
374 $23.7 M
FY ended 2011
$63,339
2011
58 Chevron Corp.
John Watson
Oil and Gas Extraction
371 $24.7 M
FY ended 2011
$66,605
2011
Read company comment
59 Danaher Corp.
H. Lawrence Culp
Computer and Electronic Products
371 $21.7 M
FY ended 2011
$58,430
2011
60 Bed Bath &
Beyond Inc.

Steven Temares
Furniture and Home Furnishings Stores
370 $13.9 M
FY ended 2012
$37,666
2012
61 Union Pacific Corp.
James Young*
Transportation and Warehousing
365 $19.1 M
FY ended 2011
$52,368
2011
Read company comment
62 Deere & Co.
Samuel Allen
Machinery
362 $19.0 M
FY ended 2012
$52,518
2012
Read company comment
63 Pentair Ltd.
Randall Hogan
Machinery
357 $18.8 M
FY ended 2012
$52,518
2012
64 QUALCOMM Inc.
Paul Jacobs
Computer and Electronic Products
354 $20.7 M
FY ended 2012
$58,565
2012
65 Mattel Inc.
Robert Eckert*
Miscellaneous Manufacturing
354 $17.8 M
FY ended 2011
$50,404
2011
Read company comment
66 McDonald's Corp.
James Skinner*
Food Services and Drinking Places
351 $8.8 M
FY ended 2011
$24,913
2011
67 FedEx Corp.
Frederick Smith
Couriers and Messengers
348 $13.7 M
FY ended 2012
$39,288
2012
Read company comment
68 Wyndham
Worldwide Corp.

Stephen Holmes
Accommodation
347 $10.7 M
FY ended 2011
$30,716
2011
69 Equifax Inc.
Richard Smith
Administrative and Support Services
343 $13.4 M
FY ended 2012
$39,238
2012
70 Baxter
International Inc.

Robert Parkinson
Miscellaneous Manufacturing
340 $17.5 M
FY ended 2012
$51,584
2012
Read company comment
71 AT&T Inc.
Randall Stephenson
Telecommunications
339 $22.2 M
FY ended 2012
$65,572
2012
72 Procter & Gamble Co.
Robert McDonald
Soaps, Cleaning Compounds, and Toiletries
336 $15.2 M
FY ended 2012
$45,269
2012
73 Caterpillar Inc.
Douglas Oberhelman
Machinery
334 $16.9 M
FY ended 2011
$50,566
2011
Read company comment
74 Lowe's Cos.
Robert Niblock
Building Material and Garden Supply Stores
332 $11.6 M
FY ended 2012
$35,112
2012
75 Gap Inc.
Glenn Murphy
Clothing and Clothing Accessories Stores
331 $9.7 M
FY ended 2012
$29,310
2012
76 Marriott
International Inc.

John Marriott*
Accommodation
329 $10.1 M
FY ended 2011
$30,716
2011
77 CVS Caremark Corp.
Larry Merlo
Health and Personal Care Stores
327 $14.1 M
FY ended 2011
$43,107
2011
Read company comment
78 Allergan Inc.
David Pyott
Pharmaceuticals and Medicines
325 $21.2 M
FY ended 2012
$65,101
2012
Read company comment
79 Dow Chemical Co.
Andrew Liveris
Chemicals
322 $19.3 M
FY ended 2011
$59,913
2011
80 Mylan Inc.
Robert Coury*
Pharmaceuticals and Medicines
321 $21.3 M
FY ended 2011
$66,393
2011
81 International
Paper Co.

John Faraci
Paper and Paper Products
320 $17.1 M
FY ended 2011
$53,379
2011
Read company comment
82 Darden
Restaurants Inc.

Clarence Otis
Food Services and Drinking Places
317 $8.1 M
FY ended 2012
$25,463
2012
Read company comment
83 Kohl's Corp.
Kevin Mansell
General Merchandise Stores
317 $9.4 M
FY ended 2012
$29,688
2012
84 United
Technologies Corp.

Louis Chenevert
Aerospace Products and Parts
315 $27.6 M
FY ended 2012
$87,555
2012
85 Lockheed
Martin Corp.

Robert Stevens*
Aerospace Products and Parts
315 $27.5 M
FY ended 2012
$87,555
2012
Read company comment
86 Boeing Co.
W. James McNerney
Aerospace Products and Parts
314 $27.5 M
FY ended 2012
$87,555
2012
87 Colgate-Palmolive Co.
Ian Cook
Soaps, Cleaning Compounds, and Toiletries
309 $14.1 M
FY ended 2011
$45,640
2011
88 United Parcel
Service Inc.

D. Scott Davis
Couriers and Messengers
309 $12.1 M
FY ended 2012
$39,288
2012
89 Whirlpool Corp.
Jeff Fettig
Electrical Equipment and Appliances
308 $16.0 M
FY ended 2012
$51,835
2012
Read company comment
90 Hershey Co.
John Bilbrey
Food Manufacturing
308 $12.3 M
FY ended 2012
$39,934
2012
Read company comment
91 DaVita HealthCare Partners Inc.
Kent Thiry
Ambulatory Health Care Services
308 $17.5 M
FY ended 2011
$57,041
2011
Read company comment
92 Home Depot Inc.
Francis Blake
Building Material and Garden Supply Stores
307 $10.8 M
FY ended 2012
$35,112
2012
93 Harman International Industries Inc.
Dinesh Paliwal
Motor Vehicle Parts
307 $16.1 M
FY ended 2012
$52,319
2012
94 Tiffany & Co.
Michael Kowalski
Clothing and Clothing Accessories Stores
306 $9.0 M
FY ended 2012
$29,310
2012
95 General Mills Inc.
Kendall Powell
Food Manufacturing
305 $12.2 M
FY ended 2012
$39,934
2012
96 Parker Hannifin Corp.
Donald Washkewicz
Fabricated Metal Products
304 $14.3 M
FY ended 2012
$46,932
2012
97 Ecolab Inc.
Douglas Baker
Administrative and Support Services
302 $11.9 M
FY ended 2012
$39,238
2012
Read company comment
98 Moody's Corp.
Raymond McDaniel
Administrative and Support Services
302 $11.9 M
FY ended 2012
$39,238
2012
99 Estee Lauder Cos.
Fabrizio Freda
Soaps, Cleaning Compounds, and Toiletries
300 $13.6 M
FY ended 2012
$45,269
2012
100 Intel Corp.
Paul Otellini
Computer and Electronic Products
299 $17.5 M
FY ended 2011
$58,430
2011
101 PPG Industries Inc.
Charles Bunch
Chemicals
299 $17.9 M
FY ended 2012
$59,801
2012
Read company comment
102 Praxair Inc.
Stephen Angel
Chemicals
297 $17.8 M
FY ended 2012
$59,801
2012
103 Republic Services Inc.
Donald Slager
Waste Management and Remediation Services
294 $14.5 M
FY ended 2011
$49,128
2011
Read company comment
104 Western Digital Corp.
John Coyne*
Computer and Electronic Products
294 $17.2 M
FY ended 2012
$58,565
2012
105 Northrop
Grumman Corp.

Wesley Bush
Aerospace Products and Parts
294 $26.2 M
FY ended 2011
$89,271
2011
Read company comment
106 Raytheon Co.
William Swanson
Computer and Electronic Products
289 $16.9 M
FY ended 2011
$58,430
2011
107 Starwood Hotels
& Resorts
Worldwide Inc.

Frits Van Paasschen
Accommodation
288 $8.9 M
FY ended 2011
$30,716
2011
108 Hormel Foods Corp.
Jeffrey Ettinger
Food Manufacturing
288 $11.5 M
FY ended 2012
$39,934
2012
109 Nabors Industries Ltd.
Anthony Petrello
Support Activities For Mining
288 $16.0 M
FY ended 2011
$55,523
2011
110 BlackRock Inc.
Laurence Fink
Securities, Commodity Contracts, Investments
287 $21.9 M
FY ended 2011
$76,254
2011
111 Halliburton Co.
David Lesar
Support Activities For Mining
285 $15.8 M
FY ended 2011
$55,523
2011
112 Amgen Inc.
Kevin Sharer*
Pharmaceuticals and Medicines
284 $18.9 M
FY ended 2011
$66,393
2011
113 EMC Corp.
Joseph Tucci
Computer and Electronic Products
283 $16.6 M
FY ended 2012
$58,565
2012
114 Walgreen Co.
Gregory Wasson
Health and Personal Care Stores
282 $12.0 M
FY ended 2012
$42,650
2012
115 Anadarko
Petroleum Corp.

R. A. Walker
Oil and Gas Extraction
280 $19.7 M
FY ended 2012
$70,194
2012
116 Stanley Black & Decker Inc.
John Lundgren
Fabricated Metal Products
278 $13.1 M
FY ended 2012
$46,932
2012
117 Dover Corp.
Robert Livingston
Machinery
278 $14.6 M
FY ended 2012
$52,518
2012
118 McGraw-Hill Cos.
Harold McGraw
Administrative and Support Services
276 $10.8 M
FY ended 2012
$39,238
2012
119 General
Dynamics Corp.

Jay Johnson*
Transportation Equipment
276 $18.0 M
FY ended 2012
$65,202
2012
120 Dell Inc.
Michael Dell
Computer and Electronic Products
276 $16.1 M
FY ended 2012
$58,565
2012
Read company comment
121 Broadcom Corp.
Scott McGregor
Computer and Electronic Products
275 $16.1 M
FY ended 2011
$58,430
2011
122 DIRECTV
Michael White
Broadcasting, Except Internet
275 $18.0 M
FY ended 2012
$65,650
2012
123 PepsiCo Inc.
Indra Nooyi
Beverages and Tobacco Products
270 $14.2 M
FY ended 2012
$52,537
2012
124 Devon Energy Corp.
John Richels
Oil and Gas Extraction
270 $18.0 M
FY ended 2011
$66,605
2011
Read company comment
125 CONSOL Energy Inc.
J. Brett Harvey
Mining, Except Oil and Gas
269 $17.2 M
FY ended 2011
$63,890
2011
Read company comment
126 Chesapeake
Energy Corp.

Aubrey McClendon*
Oil and Gas Extraction
268 $17.9 M
FY ended 2011
$66,605
2011
127 Bristol-Myers
Squibb Co.

Lamberto Andreotti
Pharmaceuticals and Medicines
264 $17.2 M
FY ended 2012
$65,101
2012
128 Schlumberger Ltd.
Paal Kibsgaard
Support Activities For Mining
264 $15.8 M
FY ended 2012
$59,970
2012
129 Staples Inc.
Ronald Sargent
Miscellaneous Store Retailers
263 $8.9 M
FY ended 2012
$33,724
2012
130 Hewlett-Packard Co.
Margaret Whitman
Computer and Electronic Products
262 $15.4 M
FY ended 2012
$58,565
2012
131 ACE Ltd.
Evan Greenberg
Insurance Carriers and Related Activities
262 $16.6 M
FY ended 2011
$63,339
2011
132 EI du Pont de Nemours & Co.
Ellen Kullman
Chemicals
262 $15.7 M
FY ended 2012
$59,801
2012
133 Time Warner
Cable Inc.

Glenn Britt
Broadcasting, Except Internet
261 $16.4 M
FY ended 2011
$62,930
2011
134 Travelers Cos.
Jay Fishman
Insurance Carriers and Related Activities
260 $16.5 M
FY ended 2011
$63,339
2011
135 ConAgra Foods Inc.
Gary Rodkin
Food Manufacturing
257 $10.3 M
FY ended 2012
$39,934
2012
136 Alcoa Inc.
Klaus Kleinfeld
Primary Metals
257 $14.3 M
FY ended 2012
$55,824
2012
137 Kimberly-Clark Corp.
Thomas Falk
Paper and Paper Products
256 $13.7 M
FY ended 2012
$53,657
2012
138 Xerox Corp.
Ursula Burns
Machinery
255 $12.9 M
FY ended 2011
$50,566
2011
139 Roper Industries Inc.
Brian Jellison
Computer and Electronic Products
255 $14.9 M
FY ended 2011
$58,430
2011
140 Delphi
Automotive PLC

Rodney O'Neal
Motor Vehicle Parts
255 $13.3 M
FY ended 2012
$52,319
2012
141 L-3 Communications Holdings Inc.
Michael Strianese
Computer and Electronic Products
254 $14.9 M
FY ended 2012
$58,565
2012
142 Ingersoll-Rand PLC
Michael Lamach
Machinery
253 $12.8 M
FY ended 2011
$50,566
2011
143 Clorox Co.
Donald Knauss
Soaps, Cleaning Compounds, and Toiletries
253 $11.5 M
FY ended 2012
$45,269
2012
144 PVH Corp.
Emanuel Chirico
Apparel
253 $8.5 M
FY ended 2012
$33,550
2012
145 Robert Half International Inc.
Harold Messmer
Administrative and Support Services
252 $10.0 M
FY ended 2011
$39,701
2011
146 Lorillard Inc.
Murray Kessler
Beverages and Tobacco Products
248 $13.2 M
FY ended 2011
$53,108
2011
147 Harris Corp.
William Brown
Computer and Electronic Products
244 $14.3 M
FY ended 2012
$58,565
2012
Read company comment
148 Fidelity National Information
Services Inc.

Frank Martire
Credit Intermediation and Related Activities
242 $11.1 M
FY ended 2011
$45,824
2011
149 BB&T Corp.
Kelly King
Credit Intermediation and Related Activities
242 $11.7 M
FY ended 2012
$48,317
2012
150 Omnicom Group Inc.
John Wren
Advertising and Related Services
242 $15.4 M
FY ended 2011
$63,773
2011
151 Norfolk
Southern Corp.

Charles Moorman
Transportation and Warehousing
239 $12.7 M
FY ended 2012
$52,906
2012
152 McCormick & Co.
Alan Wilson
Food Manufacturing
238 $9.5 M
FY ended 2012
$39,934
2012
153 Monsanto Co.
Hugh Grant
Chemicals
238 $14.2 M
FY ended 2012
$59,801
2012
154 Cummins Inc.
Theodore Solso*
Motor Vehicles
237 $17.9 M
FY ended 2011
$75,565
2011
155 Salesforce.com Inc.
Marc Benioff
Publishing Industries, Except Internet
237 $17.7 M
FY ended 2012
$74,693
2012
156 Archer-Daniels-Midland Co.
Patricia Woertz
Food Manufacturing
236 $9.4 M
FY ended 2012
$39,934
2012
157 Apache Corp.
G. Steven Farris
Oil and Gas Extraction
235 $15.6 M
FY ended 2011
$66,605
2011
158 Gilead Sciences Inc.
John Martin
Pharmaceuticals and Medicines
234 $15.3 M
FY ended 2012
$65,101
2012
159 Mead Johnson Nutrition Co.
Stephen Golsby*
Food Manufacturing
234 $9.3 M
FY ended 2012
$39,934
2012
Read company comment
160 Marsh &
McLennan Cos.

Brian Duperreault*
Insurance Carriers and Related Activities
230 $14.6 M
FY ended 2011
$63,339
2011
161 JPMorgan
Chase & Co.

Jamie Dimon
Securities, Commodity Contracts, Investments
229 $18.7 M
FY ended 2012
$81,772
2012
162 Texas
Instruments Inc.

Richard Templeton
Computer and Electronic Products
227 $13.3 M
FY ended 2012
$58,565
2012
163 BorgWarner Inc.
Timothy Manganello*
Motor Vehicle Parts
225 $11.8 M
FY ended 2012
$52,319
2012
164 Eli Lilly & Co.
John Lechleiter
Pharmaceuticals and Medicines
225 $14.6 M
FY ended 2012
$65,101
2012
165 Quest
Diagnostics Inc.

Surya Mohapatra*
Ambulatory Health Care Services
224 $12.8 M
FY ended 2011
$57,041
2011
Read company comment
166 Altria Group Inc.
Michael Szymanczyk*
Beverages and Tobacco Products
223 $11.8 M
FY ended 2011
$53,108
2011
Read company comment
167 Marathon Oil Corp.
Clarence Cazalot
Oil and Gas Extraction
223 $15.6 M
FY ended 2012
$70,194
2012
168 EOG Resources Inc.
Mark Papa
Oil and Gas Extraction
222 $14.8 M
FY ended 2011
$66,605
2011
169 Avon Products Inc.
Andrea Jung*
Soaps, Cleaning Compounds, and Toiletries
222 $10.1 M
FY ended 2011
$45,640
2011
170 American International
Group Inc.

Robert Benmosche
Insurance Carriers and Related Activities
221 $14.0 M
FY ended 2011
$63,339
2011
171 H&R Block Inc.
William Cobb
Accounting and Bookkeeping Services
220 $12.0 M
FY ended 2012
$54,349
2012
Read company comment
172 Campbell Soup Co.
Denise Morrison
Food Manufacturing
219 $8.8 M
FY ended 2012
$39,934
2012
Read company comment
173 Monster
Beverage Corp.

Rodney Sacks
Beverages and Tobacco Products
219 $11.6 M
FY ended 2011
$53,108
2011
174 Ameriprise
Financial Inc.

James Cracchiolo
Securities, Commodity Contracts, Investments
218 $17.8 M
FY ended 2012
$81,772
2012
175 Analog Devices Inc.
Jerald Fishman*
Computer and Electronic Products
217 $12.7 M
FY ended 2012
$58,565
2012
176 PetSmart Inc.
Robert Moran
Miscellaneous Store Retailers
217 $7.3 M
FY ended 2012
$33,724
2012
177 Corning Inc.
Wendell Weeks
Computer and Electronic Products
216 $12.6 M
FY ended 2012
$58,565
2012
Read company comment
178 Ventas Inc.
Debra Cafaro
Funds, Trusts, and Other Financial Vehicles
215 $18.5 M
FY ended 2011
$86,033
2011
Read company comment
179 Chubb Corp.
John Finnegan
Insurance Carriers and Related Activities
215 $13.9 M
FY ended 2012
$64,733
2012
180 Verizon Communications Inc.
Lowell McAdam
Telecommunications
214 $14.0 M
FY ended 2012
$65,572
2012
181 Lennar Corp.
Stuart Miller
Construction
214 $13.0 M
FY ended 2012
$60,581
2012
182 Aflac Inc.
Daniel Amos
Insurance Carriers and Related Activities
213 $13.8 M
FY ended 2012
$64,733
2012
183 State Street Corp.
Joseph Hooley
Securities, Commodity Contracts, Investments
212 $16.2 M
FY ended 2011
$76,254
2011
184 Comerica Inc.
Ralph Babb
Credit Intermediation and Related Activities
212 $10.2 M
FY ended 2012
$48,317
2012
185 Goldman Sachs Group Inc.
Lloyd Blankfein
Securities, Commodity Contracts, Investments
212 $16.2 M
FY ended 2011
$76,254
2011
186 UnitedHealth
Group Inc.

Stephen Hemsley
Insurance Carriers and Related Activities
211 $13.4 M
FY ended 2011
$63,339
2011
187 MetLife Inc.
Steven Kandarian
Insurance Carriers and Related Activities
211 $13.7 M
FY ended 2012
$64,733
2012
188 WellPoint Inc.
Angela Braly*
Insurance Carriers and Related Activities
209 $13.3 M
FY ended 2011
$63,339
2011
189 SanDisk Corp.
Sanjay Mehrotra
Computer and Electronic Products
208 $12.2 M
FY ended 2012
$58,565
2012
190 Dollar Tree Inc.
Bob Sasser
General Merchandise Stores
207 $6.1 M
FY ended 2012
$29,688
2012
Read company comment
191 Cardinal Health Inc.
George Barrett
Nondurable Goods
207 $11.2 M
FY ended 2012
$54,162
2012
192 Autodesk Inc.
Carl Bass
Publishing Industries, Except Internet
206 $15.4 M
FY ended 2012
$74,693
2012
193 Discover Financial Services
David Nelms
Credit Intermediation and Related Activities
206 $10.0 M
FY ended 2012
$48,317
2012
194 Netflix Inc.
Reed Hastings
Nonstore Retailers
206 $9.3 M
FY ended 2011
$45,095
2011
195 Masco Corp.
Timothy Wadhams
Furniture and Related Products
205 $8.1 M
FY ended 2011
$39,454
2011
196 Coventry Health
Care Inc.

Allen Wise
Insurance Carriers and Related Activities
205 $13.0 M
FY ended 2011
$63,339
2011
197 FirstEnergy Corp.
Anthony Alexander
Utilities
204 $18.3 M
FY ended 2011
$89,690
2011
Read company comment
198 Interpublic
Group of Cos.

Michael Roth
Advertising and Related Services
204 $13.0 M
FY ended 2011
$63,773
2011
199 GameStop Corp.
Julian Raines
Sporting Goods, Hobby, Book, and Music Stores
202 $5.9 M
FY ended 2012
$29,062
2012
200 Nordstrom Inc.
Blake Nordstrom
General Merchandise Stores
202 $6.0 M
FY ended 2012
$29,688
2012
201 Merck & Co.
Kenneth Frazier
Pharmaceuticals and Medicines
201 $13.3 M
FY ended 2011
$66,393
2011
202 Visa Inc.
Joseph Saunders*
Credit Intermediation and Related Activities
201 $9.7 M
FY ended 2012
$48,317
2012
203 Lincoln National Corp.
Dennis Glass
Insurance Carriers and Related Activities
201 $12.7 M
FY ended 2011
$63,339
2011
204 Air Products & Chemicals Inc.
John McGlade
Chemicals
200 $12.0 M
FY ended 2012
$59,801
2012
Read company comment
205 Cisco Systems Inc.
John Chambers
Computer and Electronic Products
200 $11.7 M
FY ended 2012
$58,565
2012
Read company comment
206 Cigna Corp.
David Cordani
Insurance Carriers and Related Activities
199 $12.9 M
FY ended 2012
$64,733
2012
207 United States
Steel Corp.

John Surma
Primary Metals
199 $11.1 M
FY ended 2012
$55,824
2012
208 SunTrust Banks Inc.
William Rogers
Credit Intermediation and Related Activities
197 $9.5 M
FY ended 2012
$48,317
2012
209 Hudson City
Bancorp Inc.

Ronald Hermance
Credit Intermediation and Related Activities
197 $9.0 M
FY ended 2011
$45,824
2011
210 Ball Corp.
John Hayes
Fabricated Metal Products
197 $9.2 M
FY ended 2012
$46,932
2012
211 Tyson Foods Inc.
Donald Smith
Food Manufacturing
196 $7.8 M
FY ended 2012
$39,934
2012
Read company comment
212 Alexion Pharmaceuticals Inc.
Leonard Bell
Pharmaceuticals and Medicines
196 $13.0 M
FY ended 2011
$66,393
2011
213 Rockwell
Automation Inc.

Keith Nosbusch
Computer and Electronic Products
196 $11.5 M
FY ended 2012
$58,565
2012
214 Plum Creek
Timber Co.

Rick Holley
Wood Products
196 $7.8 M
FY ended 2011
$39,549
2011
Read company comment
215 Coca-Cola Enterprises Inc.
John Brock
Beverages and Tobacco Products
195 $10.2 M
FY ended 2012
$52,537
2012
216 Laboratory Corp. of America Holdings
David King
Ambulatory Health Care Services
194 $11.1 M
FY ended 2011
$57,041
2011
217 Unum Group
Thomas Watjen
Insurance Carriers and Related Activities
193 $12.2 M
FY ended 2011
$63,339
2011
Read company comment
218 Aon PLC
Gregory Case
Insurance Carriers and Related Activities
190 $12.0 M
FY ended 2011
$63,339
2011
219 Genuine Parts Co.
Thomas Gallagher
Durable Goods
188 $10.7 M
FY ended 2012
$56,740
2012
220 Hess Corp.
John Hess
Oil and Gas Extraction
187 $13.1 M
FY ended 2012
$70,194
2012
221 Bemis Co.
Henry Theisen
Plastics and Rubber Products
187 $7.8 M
FY ended 2012
$42,035
2012
Read company comment
222 Fifth Third Bancorp
Kevin Kabat
Credit Intermediation and Related Activities
186 $9.0 M
FY ended 2012
$48,317
2012
Read company comment
223 Hospira Inc.
Michael Ball
Pharmaceuticals and Medicines
186 $12.3 M
FY ended 2011
$66,393
2011
Read company comment
224 Avery Dennison Corp.
Dean Scarborough
Chemicals
185 $11.1 M
FY ended 2012
$59,801
2012
225 PerkinElmer Inc.
Robert Friel
Computer and Electronic Products
185 $10.8 M
FY ended 2012
$58,565
2012
226 Akamai
Technologies Inc.

Paul Sagan*
Data Processing, Hosting and Related Services
185 $11.9 M
FY ended 2011
$64,234
2011
Read company comment
227 PNC Financial Services Group Inc.
James Rohr*
Credit Intermediation and Related Activities
185 $8.9 M
FY ended 2012
$48,317
2012
228 Sherwin-Williams Co.
Christopher Connor
Chemicals
184 $11.0 M
FY ended 2012
$59,801
2012
229 Juniper Networks Inc.
Kevin Johnson
Computer and Electronic Products
183 $10.7 M
FY ended 2011
$58,430
2011
Read company comment
230 Becton Dickinson
and Co.

Vincent Forlenza
Miscellaneous Manufacturing
183 $9.4 M
FY ended 2012
$51,584
2012
Read company comment
231 Allegheny Technologies Inc.
Richard Harshman
Primary Metals
182 $10.2 M
FY ended 2012
$55,824
2012
232 Mastercard Inc.
Ajaypal Banga
Credit Intermediation and Related Activities
182 $8.3 M
FY ended 2011
$45,824
2011
233 Cablevision
Systems Corp.

James Dolan
Broadcasting, Except Internet
182 $11.4 M
FY ended 2011
$62,930
2011
234 International Business Machines Corp.
Virginia Rometty
Computer Systems Design and Related Services
182 $16.2 M
FY ended 2012
$89,125
2012
235 Gannett Co.
Gracia Martore
Newspaper Publishers
180 $8.5 M
FY ended 2012
$47,040
2012
Read company comment
236 Stryker Corp.
Kevin Lobo
Miscellaneous Manufacturing
179 $9.2 M
FY ended 2012
$51,584
2012
237 Weyerhaeuser Co.
Daniel Fulton
Wood Products
179 $7.1 M
FY ended 2012
$39,547
2012
238 International Game Technology
Patti Hart
Amusements, Gambling, and Recreation
178 $6.0 M
FY ended 2012
$33,662
2012
239 National Oilwell
Varco Inc.

Merrill Miller
Support Activities For Mining
177 $9.8 M
FY ended 2011
$55,523
2011
240 Emerson Electric Co.
David Farr
Computer and Electronic Products
177 $10.4 M
FY ended 2012
$58,565
2012
241 Ensco PLC
Daniel Rabun
Support Activities For Mining
177 $9.8 M
FY ended 2011
$55,523
2011
242 Allstate Corp.
Thomas Wilson
Insurance Carriers and Related Activities
177 $11.2 M
FY ended 2011
$63,339
2011
243 Motorola
Solutions Inc.

Gregory Brown
Computer and Electronic Products
176 $10.3 M
FY ended 2012
$58,565
2012
Read company comment
244 Family Dollar
Stores Inc.

Howard Levine
General Merchandise Stores
176 $5.2 M
FY ended 2012
$29,688
2012
Read company comment
245 Invesco Ltd.
Martin Flanagan
Securities, Commodity Contracts, Investments
176 $13.4 M
FY ended 2011
$76,254
2011
246 Applied Materials Inc.
Michael Splinter
Machinery
176 $9.2 M
FY ended 2012
$52,518
2012
247 Covidien PLC
Jose Almeida
Computer and Electronic Products
176 $10.3 M
FY ended 2012
$58,565
2012
248 Life Technologies Corp.
Gregory Lucier
Computer and Electronic Products
175 $10.3 M
FY ended 2012
$58,565
2012
Read company comment
249 Xylem Inc.
Gretchen McClain
Machinery
174 $8.8 M
FY ended 2011
$50,566
2011
250 Agilent
Technologies Inc.

William Sullivan
Computer and Electronic Products
173 $10.1 M
FY ended 2012
$58,565
2012
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A more direct comparison is Mr. McGlade's 2012 total direct compensation of $9.233 million and the 2012 compensation of Air Products' U.S. employees (which includes base salary, bonuses and average overtime) of $86,000. That represents a multiple of less than 110. – Robert F. Brown, spokesman

About half the reported compensation represents the change in the pension benefit during the year. During 2012, discount rates used to measure pension liabilities dropped dramatically, causing the accumulated liability representing the CEO's 40 years of service to increase. We would not consider this reflective of current-year earnings. – Melanie E.R. Miller, vice president and treasurer

Altria's compensation program aligns executives' and shareholders' interests through long-term incentives such as stock awards. For all employees, Altria offers some of the most comprehensive and competitive benefits within the Fortune 500.'' – Bill Phelps, spokesman

Approximately 90 percent of our CEO's compensation was incentive based, including incentive-based bonuses and long-term equity awards. It also reflects outstanding clinical outcomes and large savings for taxpayers. – Skip Thurman, spokesman

Approximately 92 percent of Mr. Harvey's compensation was at-risk for 2012. CONSOL Energy consistently outperformed its coal peers and its coal division improved its reportable safety incident rate by 8 percent in 2011, about three times better than the industry average. – Lynn Seay, spokeswoman

As part of its November 2012 acquisition of Cooper Industries, Eaton is now domiciled in Ireland, and the company paid excise taxes and gross-ups related to the transaction for named executives. Without those payments, which brought no financial gain to the executives, Mr. Cutler's total compensation would have decreased 34 percent from the prior year. – Scott Schroeder, spokesman

Baxter's 2012 global net sales increased 2 percent over 2011, On an adjusted basis, excluding special items, its net income increased 2 percent over the prior year and earnings per diluted share increased 5 percent. The company's financial performance was a significant factor in the compensation decisions that were made for 2012. –Deborah G. Spak, spokeswoman

Bloomberg's calculation includes change in pension value, largely reflecting a change in the discount rate applied to it, and doesn't represent the value of pension accrued during the year. Mr. Alexander's realized compensation in 2011 was $7.47 million. This was approximately 68 percent performance-based, and tied to the establishment of goals. –Tricia Ingraham, spokeswoman

Bloomberg's information relates to the 2011 compensation for the former CEO, who left on May 1, 2012. Approximately 88 percent of the CEO's target compensation for 2013 is performance-based. – Wendy H. Bost, spokeswoman

Caterpillar uses market-based compensation across company payrolls. In compensating senior executives, base salary is the lowest percentage of total direct compensation. Short-term incentive compensation is based on performance. Long-term incentive compensation is based on company performance. Equity is a significant percentage of compensation. –Lisa Miller, spokeswoman

CEO Tom Leighton took over Jan. 1, 2013. The company has disclosed that he'll receive $1 in salary in 2013, with stock option awards valued at $1.5 million, restricted stock units with annual vesting valued at $2.25 million and performance-vested restricted stock units valued at $7.5 million. – Jeffrey Young, spokesman

Compared to all Fifth Third Bank employees, Mr. Kabat's base salary is 25 times the median; his total cash compensation (base plus short-term incentives) is 75 times the median; and total direct compensation (base plus STI plus long term incentives) is 174 times the median. Mr. Kabat's compensation is focused heavily on long-term incentives, which directly aligns to shareholders' interests. – Debra DeCourcy, spokeswoman

Compensation changes for Mr. Dell were based on performance in our fiscal year 2012, which was the most successful financial year in the company's history. At the time, Mr. Dell had not received a salary increase in more than five years, had declined a bonus for fiscal years 2008-10, and declined equity grants from fiscal 2005 through 2010. –David Frink, spokesman

Compensation for Northrop Grumman executives is established by the compensation committee of Northrop Grumman's board of directors, and is clearly defined and enumerated within the company's recently filed proxy. – Randy Belote, spokesman

Dates of stock grants were recently changed, resulting in a one-time only event of additional grants falling in the 2012 calendar year. Adjusting for that and excluding change in pension value, we've reported total direct compensation of $5,529,291. –Jeremy Gaines, spokesman

Deere remains committed to a compensation philosophy that incorporates the principles of paying for performance, supporting business strategies and paying competitively. The board's compensation committee states in the proxy that it believes this philosophy drives business executives and salaried employees to produce sustainable, positive results for Deere and its stockholders. –Ken Golden, spokesman

Don Slager's total compensation for FY 2012 was approximately $5.4 million. Republic is proud to provide solid, well-paying jobs to approximately 30,000 employees. – Company statement

During Ms. Cafaro's tenure as CEO, Ventas has delivered 32 percent compound annual returns to shareholders and its market cap has increased 100-fold to over $20 billion. Her pay is aligned with shareholders. –Lori Wittman, spokeswoman

Ecolab delivered strong financial performances in 2011 and 2012, and has outperformed the S&P 500 in each of the last nine years. ISS Governance has determined that Ecolab's CEO compensation is aligned with performance, and that the company's compensation practices are of low concern. –Roman Blahoski, spokesman

Executive pay is based on performance criteria – the philosophy, key principles and processes of which are clearly set forth in our proxy statement. We provide all the extensive disclosure on our compensation programs and practices required by authorities, and we will continue to do so as the requirements evolve over time. – Chris Perille, spokesman

For the 16th year, Mr. Fairbank received no salary. For 2012, almost 90 percent of his total compensation is equity-based and at-risk to the performance of the company's stock price. All payouts, including the deferred cash bonus, are deferred for three years. All incentive awards are subject to clawbacks. – Julie Rakes, spokeswoman

Howard's pay reflects both competitive considerations and the unique value of his leadership, demonstrated in our record 2012 results and 38 percent total shareholder return. Our baristas receive a comprehensive benefits package, including health coverage and company stock for eligible partners, that can be worth up to three times that offered by other retail companies. –James T. Olson, spokesman

Incentives are aligned with the interests of our shareholders. Performance and compensation are benchmarked against a peer group of retailers. Dollar Tree's performance over the past several years has been exemplary. – Timothy Reid, spokesman

Information on our pay philosophy and compensation are available in our 2013 proxy statement, at our website: http://www.lockheedmartin.com/content/dam/lockheed/data/corporate/documents/2013-Proxy-Statement.pdf –Jennifer L. Allen, spokeswoman

It is our policy to pay competitively at all levels of our organization. We believe Devon's executive compensation is comparable to industry norms and allows us to compete for and retain top managerial talent. We discuss executive compensation with our largest shareholders on an annual basis to help ensure that our pay practices reflect their values. –Chip Minty, spokesman

John Chambers' FY12 compensation, $11,687,666, is composed of a $375,000 base salary, performance-based stock awards of $7,348,265 and a performance-based annual bonus of $3,953,376, which followed a record year in revenue and earnings per share. A sum of $11,025 in matching 401K funds completes the total. –Kristin Carvell, spokeswoman

Last year, CVS Caremark delivered strong financial results and enhanced returns to shareholders, performing favorably against our peer group in several key areas. Mr. Merlo's compensation reflects these strong results. – Carolyn Castel, spokeswoman

Like every other company, we are waiting for the final rule on the appropriate calculation. –Brian Dowling, spokesman

Mike's 2011 compensation included sign-on grants reflecting compensation he left on the table at his previous employer. His 2011 base salary was $975,000. More than $7 million of his $8.8 million in total compensation for 2012 is related to stock option and performance share awards, the value of which may not be realized because they're based on Hospira's stock price appreciation or total shareholder return as compared to peers. –Daniel Rosenberg, spokesman

Mr. Brown's fiscal 2012 compensation included one-time transition compensation totaling about $10 million. Most was equity based and tied to the company meeting performance goals over multiple years. – Jim Burke, spokesman

Mr. Camilleri's performance-based compensation package is in line with his peers. Under his leadership, PMI continues to not only outpace its competitors, but generated a total shareholder return five times that of the S&P 500 during the last five years. – Julie Soderlund, spokeswoman

Mr. Cobb's compensation included sign-on bonuses of $900,000 in cash and $4.5 million in stock. A normalized amount for his compensation would be $6.84 million, for a ratio of 126 . – Gene King, spokesman

Mr. Eckert retired on Dec. 31, 2011. A change in pension value of over $7 million was due to his retirement and was not part of a typical compensation package. – Lisa Marie Bongiovanni, spokeswoman

Mr. Ishrak was awarded certain sign-on and make-whole cash and equity compensation to replace part of the value of unvested compensation and benefits he forfeited when he left his prior employer for Medtronic. His total compensation excluding sign-on and make-whole awards is $7,219,732. – Cindy Resman, spokeswoman

Mr. Pyott's current compensation represents a fraction of the significant increase in Allergan's market capitalization since he became CEO. Much of his reported 2012 compensation is attributable to the exercise of near-expiry stock options. – Bonnie Jacobs, spokeswoman

Mr. Smith's compensation is closely aligned with the performance of FedEx. It reflects his experience in the transportation industry and his role in promoting the company and resolving the governmental barriers it has faced worldwide. – Jess Bunn, spokesman

Mr. Watson's actual compensation is significantly less than the total compensation stated in Chevron's proxy. All Chevron employees share in the success of the company through our incentive program. – Morgan Crinklaw, spokesman

Ms. Morrison's compensation is designed to be competitive with that of companies within our compensation peer group and her incentive compensation is directly linked to both company performance and her individual performance. –Anthony Sanzio, spokesman

Our approach to executive compensation considers long- and short-term incentives, is tied to increasing stockholder value, and considers a balanced evaluation of business and individual performance measured against financial, customer and employee related objectives. –Kris Vernier, spokeswoman

Our compensation is designed to be at the market's median. Only 12 percent is fixed, or cash salary. The rest is highly variable, performance based – similar to those of CEOs running companies comparable in size, complexity of business and global reach. – Dan Collins, spokesman

Our compensation packages are competitive with those offered by our peers in the retail sector and align executives' interests with stockholders' by keeping a significant portion of executive compensation ``at risk'' and linked to both our short-term and long-term financial success. – Bryn Winburn, spokeswoman

Over the past three years, the company has enjoyed considerable success, including record earnings in 2012. Just as shareholders have enjoyed the benefits of the company's success, Mr. Gallogly has enjoyed a similar benefit in his risk-based compensation. – David Harpole, spokesman

PPG's incentive compensation programs are tied directly to financial performance and long-term return to shareholders. In 2012, PPG achieved record adjusted earnings per share of $7.94. Our total shareholder return over the past three years when measured against the S&P 500 was in the 91st percentile. – Jeremy Neuhart, spokesman

Ratios like averages are often misleading. Mr. Cote's 2012 compensation includes a large, one-time change in pension, the result of his 2012 bonus replacing a ``zero bonus'' for 2009 in the final 3-year average pay pension calculation, and a decline in the discount rate required to calculate year-end pension values. Excluding the pension change, the ratio of Mr. Cote's annual compensation to the industry average compensation as calculated by Bloomberg would be significantly lower. –Rob Ferris, spokesman

The average total wages and benefits for Unum employees is approximately $95,000, resulting in a much lower CEO-to-employee ratio than you provided. In the 10 years since Tom Watjen has been CEO, Unum's return has been 242 percent, compared to 126 percent for the S&P 500 and 96 percent for the S&P Life Index. – Jim Sabourin, spokesman

The BD board tries to offer our CEO a compensation package that's competitive with peer companies and ties a significant amount of pay to BD's and the CEO's performance. In fiscal year 2012, approximately 73 percent of Mr. Forlenza's target compensation was performance-based and not guaranteed. – Colleen White, spokeswoman

The compensation package is meant to attract and retain top talent, reward business results and individual performance. The bulk of the salary is incentive based and tied to future financial results of Nike, which in turn maximizes shareholder value. – Mary Remuzzi, spokeswoman

The compensation programs throughout our organization are designed to reward consistent, competitively superior performance that delivers long-term value to shareholders. We compare our compensation levels to peer companies across the restaurant, retail and hospitality industries to make sure our rewards programs are appropriately competitive. – Ron DeFeo, spokesman

The outdated and incorrect figures being used, together with a flawed methodology, result in a distortion that is insulting to our employees. By treating an eight-year, non-cash all equity grant that does not even begin to vest until 2017 as a single year's compensation, the survey creates a completely misleading result and makes any comparison meaningless. David Simon's pay is more than 90 percent performance based. –Hugh Burns, spokesman

The process for determining CEO compensation includes benchmarking with other organizations in our industry, as well as at a select group of REITs and other S&P companies. A portion of our CEO's compensation is composed of long-term incentives, which are based on company performance. – Kathy Budinick, spokeswoman

The vast majority of Steve's reported compensation consists of value that he'll only receive if our stock price increases over a multi-year period. The market data you are reviewing is not indicative of the compensation of many of our restaurant managers; top performers are eligible to receive awards of stock appreciation rights with the same terms granted to executives. – Chris Arnold, spokesman

To encourage long-term performance, about 70 percent of 2012 executive pay is equity versus 30 percent cash. For two consecutive years, 96 percent of shareholders voted in favor of the company's executive compensation plan. – Bridget Braxton, spokeswoman

Total compensation for Mr. Johnson in 2011 was approximately 49 times the average total compensation for Juniper's U.S. employees in non-sales-commissioned roles. His compensation in 2012, $6,945,920, was approximately 33 times that average. "Variable compensation" in the form of annual incentive and equity comprised over 85 percent of our CEO's total compensation in both years. – Cindy Ta, spokeswoman

Under Mr. Brown's leadership, full-year sales were up 6 percent from the previous year and GAAP earnings per share were up 34 percent year over year. The company's stock was up 20.3 percent over the previous year. –Tama McWhinney, spokeswoman

Under Ms. Rosenfeld's leadership, MDLZ delivered solid financial performance relative to peers, providing great momentum as we enter 2013. The company's total shareholder return (2010-2012) was 20.1 percent compared to a 9.1 percent median for our Performance Peer Group. – Michael Mitchell, spokesman

Union Pacific has received a 96 percent shareholder approval vote on its executive compensation the last two years. It reported all-time records in 2012 for earnings per share, operating revenue, operating income, operating ratio and customer satisfaction index. – Tom Lange, spokesman

Using an average compensation figure for comparing is misleading. It excludes thousands who work in management jobs and ignores certain benefits Tyson provides that other food companies don't, such as a retirement savings plan, stock purchase program and tuition reimbursement. –Gary Mickelson, spokesman

Using our actual employee data, our CEO's compensation is less than 90 times that of our average worker. Specifically, our average base salary is about $100,000 and incentive compensation is more than 20 percent. – Suzanne Hatcher, spokeswoman

We place a priority on providing comprehensive pay and benefits for all of our team members that often exceed the external market. Our executive compensation programs are competitive with companies of our scale and complexity and are designed to attract, retain and motivate a premier management team. –Jessica Deede, spokeswoman

We review our CEO's actual pay in two key areas: the company's performance and against 20 publicly traded companies. Compared to that group, Mr. Faraci was paid at the 60th percentile, while the company's performance exceeded that of our peers. Our board of directors and its independent consultant evaluate IP's CEO compensation annually. –Tom Ryan, spokesman

We target executive compensation at the 50th percentile of our peer group of consumer product companies. Hershey’s cumulative total shareholder return, or TSR, from December 31, 2009 to December 31, 2012 was 118 percent compared to 51 percent for our financial peer group. –Jeff Beckman, spokesman

Wynn's multiple should be 251, based on the company's report that the average employee wage at its Las Vegas casino is $65,258. "Wynn is known for paying more than any other casino in Las Vegas." – Michael Weaver, spokesman

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