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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Stock-Based Compensation Expense


	Three months ended June 30,				Six months ended June 30,
(Millions)	2022		2021		2022		2021
Cost of sales	$	9	$	9	$	33	$	31
Selling, general and administrative expenses	31		37		114		121
Research, development and related expenses	7		7		35		32
Stock-based compensation expenses	47		53		182		184
Income tax benefits	(9)		(25)		(46)		(76)
Stock-based compensation expenses (benefits), net of tax	$	38	$	28	$	136	$	108

The following table summarizes stock option activity during the six months ended June 30, 2022:


(Options in thousands)	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (months)	Aggregate Intrinsic Value (millions)
Under option —
January 1	34,560	$	163.52
Granted	3,776	162.39
Exercised	(1,297)	96.86
Forfeited	(372)	179.40
June 30	36,667	165.61		63	$	72,356
Options exercisable
June 30	29,170	$	165.71	51	$	72,356

Stock Option Assumptions

The following table summarizes restricted stock and restricted stock unit activity during the six months ended June 30, 2022:


(Shares in thousands)	Number of Shares	Weighted Average Grant Date Fair Value
Nonvested balance —
As of January 1	1,987	$	175.96
Granted	1,057	161.76
Vested	(512)	199.75
Forfeited	(62)	167.79
As of June 30	2,470	165.15

The following table summarizes performance share activity during the six months ended June 30, 2022:


(Shares in thousands)	Number of Shares	Weighted Average Grant Date Fair Value
Undistributed balance —
As of January 1	481	$	175.12
Granted	269	144.77
Distributed	(116)	207.49
Performance change	(165)	153.90
Forfeited	(20)	160.83
As of June 30	449	157.00