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