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Share-Based Payment and Other Benefits (Tables)
 12 Months Ended
Dec. 31, 2018
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]  
Schedule of Weighted-Average Assumptions Used in the Valuation of Stock Option Awards
The following table presents the weighted-average assumptions used in the valuation and the resulting weighted-average fair value per option granted for the years ended December 31:
 
2018
 
2017
 
2016
Risk-free rate of return
2.7
%
 
2.0
%
 
1.3
%
Expected term (in years)
6.00

 
5.00

 
5.00

Expected volatility
19.7
%
 
19.3
%
 
23.3
%
Expected dividend yield
0.6
%
 
0.8
%
 
0.8
%
Weighted-average fair value per Option granted
$
40.90

 
$
21.23

 
$
18.58
Summary of Stock Option Activity
The following table summarizes the Company’s option activity for the year ended December 31, 2018:
 
Options
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Term
 
Aggregate Intrinsic Value
 
(in millions)
 
 
 
(in years)
 
(in millions)
Outstanding at January 1, 2018
8.6

 
$
77

 
 
 
 
Granted
0.9

 
$
173

 
 
 
 
Exercised
(1.8
)
 
$
57

 
 
 
 
Forfeited/expired
(0.1
)
 
$
112

 
 
 
 
Outstanding at December 31, 2018
7.6

 
$
93

 
6.4
 
$
726

Exercisable at December 31, 2018
4.3

 
$
72

 
5.2
 
$
505

Options vested and expected to vest at December 31, 2018
7.6

 
$
93

 
6.4
 
$
723
Summary of Restricted Stock Unit Activity
The following table summarizes the Company’s RSU activity for the year ended December 31, 2018:
 
Units
 
Weighted-Average Grant-Date Fair Value
 
Aggregate Intrinsic Value
 
(in millions)
 
 
 
(in millions)
Outstanding at January 1, 2018
4.1

 
$
97

 
 
Granted
0.9

 
$
171

 
 
Converted
(1.1
)
 
$
90

 
 
Forfeited
(0.2
)
 
$
110

 
 
Outstanding at December 31, 2018
3.7

 
$
117

 
$
702

RSUs expected to vest at December 31, 2018
3.6

 
$
116

 
$
680
Summary of Performance Stock Unit Activity
The following table summarizes the Company’s PSU activity for the year ended December 31, 2018:
 
Units
 
Weighted-Average
Grant-Date Fair Value
 
Aggregate Intrinsic Value
 
(in millions)
 
 
 
(in millions)
Outstanding at January 1, 2018
0.5

 
$
105

 
 
Granted
0.1

 
$
226

 
 
Converted
(0.3
)
 
$
99

 
 
Other1
0.3

 
$
94

 
 
Outstanding at December 31, 2018
0.6

 
$
120

 
$
119

PSUs expected to vest at December 31, 2018
0.6

 
$
119

 
$
118


1 Represents additional shares issued in March 2018 related to the 2015 PSU grant based on performance and market conditions achieved over the three-year measurement period. These shares vested upon issuance.
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan
The following table includes additional share-based payment information for each of the years ended December 31:
 
2018
 
2017
 
2016
 
(in millions, except weighted-average fair value)
Share-based compensation expense: Options, RSUs and PSUs
$
196

 
$
176

 
$
148

Income tax benefit recognized for equity awards
41

 
57

 
49

Income tax benefit realized related to Options exercised
53

 
36

 
31

 
 
 
 
 
 
Options:
 
 
 
 
 
Total intrinsic value of Options exercised
242

 
106

 
86

RSUs:
 
 
 
 
 
Weighted-average grant-date fair value of awards granted
171

 
112

 
91

Total intrinsic value of RSUs converted into shares of Class A common stock
194

 
131

 
122

PSUs:
 
 
 
 
 
Weighted-average grant-date fair value of awards granted
226

 
126

 
92

Total intrinsic value of PSUs converted into shares of Class A common stock
40

 
13

 
25