XML 105 R35.htm IDEA: XBRL DOCUMENT v3.20.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2020
Stock-Based Compensation  
Stock-Based Compensation Expense

Stock-Based Compensation Expense

Three months ended 

 

March 31,

(Millions)

    

2020

    

2019

 

Cost of sales

$

22

$

22

Selling, general and administrative expenses

 

73

 

82

Research, development and related expenses

 

25

 

26

Stock-based compensation expenses

$

120

$

130

Income tax benefits

(39)

(80)

Stock-based compensation expenses (benefits), net of tax

$

81

$

50

Stock Option Activity

Stock Option Program

The following table summarizes stock option activity during the three months ended March 31, 2020:

Weighted

Average

    

    

Weighted

    

Remaining

    

Aggregate

Number of

Average

Contractual

Intrinsic Value

(Options in thousands)

Options

Exercise Price

Life (months)

(millions)

Under option —

January 1

 

33,675

$

151.15

 

 

Granted:

Annual

 

4,741

 

157.26

 

 

 

Exercised

 

(1,159)

 

87.25

 

 

 

Forfeited

 

(41)

 

193.77

 

 

 

March 31

 

37,216

$

153.87

 

70

$

359

 

Options exercisable

March 31

 

29,173

$

146.86

 

58

$

359

 

Stock Option Assumptions

Stock Option Assumptions

Annual

    

2020

Exercise price

$

157.24

Risk-free interest rate

 

1.5

%

Dividend yield

 

2.7

%

Expected volatility

 

19.7

%

Expected life (months)

 

78

Black-Scholes fair value

$

21.58

Restricted Stock and Restricted Stock Units Activity

Restricted Stock and Restricted Stock Units

The following table summarizes restricted stock and restricted stock unit activity during the three months ended March 31, 2020:

 

    

    

    

Weighted

 

Average

 

Number of

Grant Date

 

(Shares in thousands)

Shares

Fair Value

 

Nonvested balance —

As of January 1

 

1,573

$

201.11

Granted

Annual

 

733

 

157.29

Other

 

10

 

175.81

Vested

 

(553)

 

176.16

Forfeited

 

(16)

 

193.91

As of March 31

 

1,747

$

190.55

Performance Shares Activity

The following table summarizes performance share activity during the three months ended March 31, 2020:

 

    

    

    

Weighted

 

Average

 

Number of

Grant Date

 

(Shares in thousands)

Shares

Fair Value

 

Undistributed balance —

As of January 1

 

444

$

205.58

Granted

 

191

 

153.02

Distributed

 

(206)

 

190.84

Performance change

 

10

 

116.06

Forfeited

 

(0)

 

231.34

As of March 31

 

439

$

187.50