EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Schedule of Compensation Expense

The compensation expense that has been charged against income for these plans was as follows for the years ended December 31, 2021, 2020, and 2019:

	2021		2020		2019
	(in millions)
Stock-based compensation expense by type:
Restricted stock	$	171	$	171	$	152
Stock options	9		10		11
Total stock-based compensation expense	180		181		163
Tax benefit recognized	(15)		(29)		(35)
Stock-based compensation expense, net of tax	$	165	$	152	$	128

Schedule of Restricted Stock Awards Activity

Activity for our restricted stock was as follows for the year ended December 31, 2021:

	Shares	Weighted- Average Grant-Date Fair Value
	(shares in thousands)
Nonvested restricted stock at December 31, 2020	911	$	282.81
Granted	485	381.34
Vested	(460)	312.45
Forfeited	(63)	347.42
Nonvested restricted stock at December 31, 2021	873	$	380.55

Schedule of Weighted-Average Fair Value Assumptions

The fair value was estimated on the date of grant using the Black-Scholes pricing model with the weighted-average assumptions indicated below:

	2021			2020			2019
Weighted-average fair value at grant date	$	92.21		$	69.73		$	68.53
Expected option life (years)	3.7 years			4.0 years			4.1 years
Expected volatility	33.8		%	24.9		%	25.5		%
Risk-free interest rate at grant date	0.4		%	1.2		%	2.4		%
Dividend yield	0.7		%	0.7		%	0.7		%

Schedule of Activity for Option Plans

Activity for our option plans was as follows for the year ended December 31, 2021:

	Shares  Under Option	Weighted-Average Exercise Price
	(shares in thousands)
Options outstanding at December 31, 2020	323	$	309.04
Granted	93	379.26
Exercised	(106)	282.35
Forfeited	—	—
Options outstanding at December 31, 2021	310	$	339.08
Options exercisable at December 31, 2021	108	$	308.22