XML 63 R47.htm IDEA: XBRL DOCUMENT

Share-Based Associate Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2020

Below is a summary of option information for the year 2020:


(Dollars in millions, except exercise price. Shares in thousands)	Shares	Weighted- average exercise price		Aggregate intrinsic value		Weighted-average remaining contractual life
Outstanding option shares at January 1, 2020	3,437	$	63.99
Granted	508	111.53
Exercised	(274)	41.86
Forfeited or expired	(70)	55.60
Outstanding option shares at December 31, 2020	3,601	72.55		$	66	6.01 years



Options exercisable at end of period	2,509	$	63.11	$	61	4.97 years

elow is a summary of service-based and performance-based share information, assuming a target payout for performance-based shares, for the year 2020:


(Shares in thousands)	Service-based shares	Weighted- average grant date fair value		Performance-based shares	Weighted- average grant date fair value
Nonvested at January 1, 2020	783	$	70.27	165	$	64.23
Granted	204	104.81		38	111.77
Vested	(269)	66.53		(56)	43.26
Forfeited or canceled	(22)	78.96		—	—
Nonvested at December 31, 2020	696	81.56		147	84.64

The following weighted average assumptions were used in determining fair value for option grants issued:


	2020	2019	2018
Weighted-average expected term	7-8 years	7-8 years	7-8 years
Expected volatility	16.89-17.13%	14.49-15.39%	15.04-15.10%
Dividend yield	2.15%	2.61%	2.98%
Risk-free rates	1.40-1.41%	2.62-2.64%	2.77-2.83%
Weighted-average fair value of options granted during the period	$15.45	$11.73	$9.87

he following assumptions were used in determining fair value for performance-based grants issued: