Share-Based Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Weighted Average Black-Scholes Assumptions

Based on the results of the model, the weighted-average grant date fair value of stock options granted for 2019, 2018, and 2017 were $27.89, $38.34 and $44.01, respectively, using the following assumptions: 

Weighted Average Black-Scholes Assumptions	2019		2018		2017
Risk-free interest rate	2.5	%	2.6	%	1.9	%
Expected volatility	28.5	%	28.2	%	32.0	%
Expected dividend yield	3.4	%	2.6	%	2.3	%
Expected option life, in years	5		5		5

Summary of Stock Option Activity

The following table summarizes stock option activity during 2019:

In thousands, except per share data	Number of Options		Weighted- Average Exercise Price
Outstanding at January 1	2,291		$	144.21
Granted	256		$	139.24
Exercised	(85	)	$	100.84
Canceled or expired	(75	)	$	173.22
Outstanding at December 31	2,387		$	144.01
Exercisable at December 31	1,861		$	140.60

Summary of Additional Information Related to Stock Options Outstanding

The table below summarizes additional information related to stock options outstanding at December 31, 2019:

Options in thousands / dollars in millions, except per-share data	Outstanding Net of Expected Forfeitures		Options Exercisable
Number of options	2,274		1,861
Weighted-average exercise price per share	$	144.32	$	140.60
Aggregate intrinsic value	$	42	$	42
Weighted-average remaining contractual term, in years	5		4

Summary of Stock Unity Activity

The following table summarizes stock unit activity during 2019:

Stock units in thousands, except per-share data	Number of Stock Units		Weighted- Average Grant Date Fair Value
Non-vested, at January 1	728		$	150.63
Granted	394		$	127.26
Canceled	(88	)	$	143.58
Vested and transferred to unrestricted	(229	)	$	138.40
Non-vested, at December 31	805		$	144.48