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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Stock-based compensation cost included in income from continuing operations
The following table presents total stock-based compensation cost included in income from continuing operations.
($ in millions)
For the year ended December 31:202320222021
Cost$190 $164 $145 
SG&A expense616 566 555 
RD&E expense328 258 218 
Pre-tax stock-based compensation cost1,133 987 919 
Income tax benefits(290)(249)(223)
Net stock-based compensation cost$843 $738 $695 
Summary of Restricted Stock Units activity
The following table summarizes RSU and PSU activity under the Plans during the years ended December 31, 2023, 2022 and 2021.
RSUsPSUs
Weighted-Average
Grant Price		Number of UnitsWeighted-Average
Grant Price
Number of Units (1)
Balance at January 1, 2021$117 16,896,704$120 3,551,500
Awards granted125 9,566,307129 1,561,120
Awards released120 (4,582,159)129 (581,397)
Awards canceled/forfeited/performance adjusted (2)
119 (2,072,800)124 (453,178)
Kyndryl separation - adjustment— 660,089— 120,428
Kyndryl separation - cancellation119 (1,429,661)119 (469,616)
Balance at December 31, 2021$116 19,038,480$118 3,728,857
Awards granted112 11,447,966110 1,237,019
Awards released114 (7,013,530)114 (679,601)
Awards canceled/forfeited/performance adjusted (2)
116 (2,420,002)116 (720,197)
Balance at December 31, 2022$115 21,052,914$117 3,566,078
Awards granted118 10,915,958117 1,295,937
Awards released114 (7,383,980)113 (840,111)
Awards canceled/forfeited/performance adjusted (2)
115 (1,527,249)114 (548,865)
Balance at December 31, 2023$116 23,057,643$118 3,473,039
(1)    The balances at December 31 for each period presented represent the number of shares expected to be issued based on achievement of grant date performance targets. The actual number of shares issued will depend on final performance against specified targets over the vesting period.
(2)    Includes adjustments of (404,655), (362,247) and (223,397) for PSUs in 2023, 2022 and 2021, respectively, because final performance metrics were above or below specified targets.
Summary of Performance Share Units activity
The following table summarizes RSU and PSU activity under the Plans during the years ended December 31, 2023, 2022 and 2021.
RSUsPSUs
Weighted-Average
Grant Price		Number of UnitsWeighted-Average
Grant Price
Number of Units (1)
Balance at January 1, 2021$117 16,896,704$120 3,551,500
Awards granted125 9,566,307129 1,561,120
Awards released120 (4,582,159)129 (581,397)
Awards canceled/forfeited/performance adjusted (2)
119 (2,072,800)124 (453,178)
Kyndryl separation - adjustment— 660,089— 120,428
Kyndryl separation - cancellation119 (1,429,661)119 (469,616)
Balance at December 31, 2021$116 19,038,480$118 3,728,857
Awards granted112 11,447,966110 1,237,019
Awards released114 (7,013,530)114 (679,601)
Awards canceled/forfeited/performance adjusted (2)
116 (2,420,002)116 (720,197)
Balance at December 31, 2022$115 21,052,914$117 3,566,078
Awards granted118 10,915,958117 1,295,937
Awards released114 (7,383,980)113 (840,111)
Awards canceled/forfeited/performance adjusted (2)
115 (1,527,249)114 (548,865)
Balance at December 31, 2023$116 23,057,643$118 3,473,039
(1)    The balances at December 31 for each period presented represent the number of shares expected to be issued based on achievement of grant date performance targets. The actual number of shares issued will depend on final performance against specified targets over the vesting period.
(2)    Includes adjustments of (404,655), (362,247) and (223,397) for PSUs in 2023, 2022 and 2021, respectively, because final performance metrics were above or below specified targets.
Summary of total fair value of RSUs and PSUs granted and vested
The total fair value of RSUs and PSUs granted and vested during the years ended December 31, 2023, 2022 and 2021 were as follows:
($ in millions)
For the year ended December 31:202320222021
RSUs
Granted$1,293 $1,288 $1,195 
Vested845 801 549 
PSUs
Granted$151 $136 $201 
Vested95 77 75 
Schedule of weighted-average assumptions used for estimation of fair value of stock options The fair value was estimated based on the following weighted-average assumptions:
For the year ended December 31:20232022
Expected term (in years)6.36.3
Expected volatility26.0 %25.5 %
Risk-free rate4.2 %2.0 %
Dividend yield5.0 %5.3 %
Summary of option activity
The following table summarizes option activity under the Plans during the years ended December 31, 2023 and 2022.
Weighted-Average
Exercise Price		Number of Shares
Under Option
Balance at January 1, 2022$135 1,549,732
Options granted125 5,044,353
Options exercised— —
Options forfeited/cancelled/expired125 (319,560)
Balance at December 31, 2022$128 6,274,525
Options granted133 4,574,756
Options exercised125 (408,045)
Options forfeited/cancelled/expired129 (584,674)
Balance at December 31, 2023$130 9,856,562
Vested and exercisable at December 31, 2023$132 2,297,818