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STOCK-BASED COMPENSATION PLANS (Tables)
12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Income Statement Impact from Stock Options
 Years Ended December 31,
202020192018
Compensation expense$50 $47 $64 
Future income tax benefit recognized10 10 13 
Share based compensation fair value assumptions
 Years Ended December 31,
202020192018
Weighted average fair value per share of options granted during the year(1)
$21.30 $21.57 $23.63 
Assumptions:
Expected annual dividend yield2.59 %2.65 %2.49 %
Expected volatility18.76 %18.40 %18.93 %
Risk-free rate of return1.32 %2.46 %2.71 %
Expected option term (years)4.624.874.95
(1)Estimated on date of grant using Black-Scholes option-pricing model.
Stock Options Activity
Number of
Options
Weighted
Average
Exercise
Price
Outstanding at December 31, 201723,409,293 $94.16 
Spin related adjustment(1)
989,158 
Granted3,303,722 148.48 
Exercised(3,399,375)78.29 
Lapsed or canceled(1,824,217)123.01 
Outstanding at December 31, 201822,478,581 97.83 
Granted3,136,058 155.43 
Exercised(5,897,060)84.31 
Lapsed or canceled(986,017)136.15 
Outstanding at December 31, 201918,731,562 109.87 
Granted3,192,693 176.93 
Exercised(4,424,754)88.96 
Lapsed or canceled(930,972)156.62 
Outstanding at December 31, 202016,568,529 $125.75 
Vested and expected to vest at December 31, 2020(2)
15,442,367 $122.63 
Exercisable at December 31, 202010,120,793 $103.89 
(1)Additional options granted to offset the dilutive impact of the spin-offs on outstanding options.
(2)Represents the sum of vested options of 10.1 million and expected to vest options of 5.3 million. Expected to vest options are derived by applying the pre-vesting forfeiture rate assumption to total outstanding unvested options of 6.4 million.
Schedule of share based compensation by price ranges
Range of Exercise PricesOptions OutstandingOptions Exercisable
Number
Outstanding
Weighted
Average Life(1)
Weighted
Average
Exercise
Price
Aggregate
Intrinsic
Value
Number
Exercisable
Weighted
Average
Exercise
Price
Aggregate
Intrinsic
Value
$27.00–$64.99236,938 1$56.58 $37 236,938 $56.58 $37 
$65.00–$89.992,541,403 2.778.96 340 2,541,403 78.96 340 
$90.00–$99.993,980,975 4.6898.80 453 3,980,975 98.80 453 
$100.00–$134.992,892,011 6.78119.58 270 1,985,364 118.64 187 
$135.00–$180.996,917,202 8.34163.40 341 1,376,113 151.53 84 
16,568,529 6.22$125.75 $1,441 10,120,793 $103.89 $1,101 
(1)Average remaining contractual life in years.
Financial Statement Impact From Stock Options Exercised
Options ExercisedYears Ended December 31,
202020192018
Intrinsic value(1)
$379 $483 $238 
Tax benefit realized84 117 47 
(1)Represents the amount by which the stock price exceeded the exercise price of the options on the date of exercise.
Restricted stock units activity ended December 31, 2020:
Number of
Restricted
Stock Units
Weighted
Average
Grant Date
Fair Value
Per Share
Non-vested at December 31, 20173,946,827 $108.60 
Spin related adjustment(1)
154,346 
Granted1,360,338 153.46
Vested(988,787)91.68
Forfeited(814,851)117.40
Non-vested at December 31, 20183,657,873 125.35
Granted1,200,202 162.43
Vested(1,160,333)104.32
Forfeited(457,677)134.50
Non-vested at December 31, 20193,240,065 143.07
Granted1,551,675 158.52
Vested(1,001,101)117.84
Forfeited(394,116)145.42
Non-vested at December 31, 20203,396,523 $148.23 
(1)Additional RSU grants to offset the dilutive impact of the spin-offs on non-ve
Income Statement Impact from RSUs
The following table summarizes the impact to the Consolidated Statement of Operations from RSUs:
 Years Ended December 31,
202020192018
Compensation expense$118 $106 $111 
Future income tax benefit recognized24 21 21