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STOCK-BASED COMPENSATION PLANS (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Income Statement Impact from Stock Options
 Years Ended December 31,
202120202019
Compensation expense$55 $50 $47 
Future income tax benefit recognized11 10 10 
Share based compensation fair value assumptions
 Years Ended December 31,
202120202019
Weighted average fair value per share of options granted during the year(1)
$32.42 $21.30 $21.57 
Assumptions:
Expected annual dividend yield2.31 %2.59 %2.65 %
Expected volatility24.69 %18.76 %18.40 %
Risk-free rate of return0.48 %1.32 %2.46 %
Expected option term (years)4.54 4.62 4.87 
(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, 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 
Granted2,065,574 204.99 
Exercised(2,016,489)113.01 
Lapsed or canceled(764,675)175.42 
Outstanding at December 31, 202115,852,939 $135.31 
Vested and expected to vest at December 31, 2021(1)
14,694,701 $131.08 
Exercisable at December 31, 202110,664,625 $113.30 
(1)Represents the sum of vested options of 10.7 million and expected to vest options of 4.0 million. Expected to vest options are derived by applying the pre-vesting forfeiture rate assumption to total outstanding unvested options of 5.2 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 per share
Aggregate
Intrinsic
Value
Number
Exercisable
Weighted
Average
Exercise
Price per share
Aggregate
Intrinsic
Value
$27.00–$64.9990,181 0.17$56.97 $14 90,181 $56.97 $14 
$65.00–$89.992,293,585 1.6879.39 296 2,293,585 79.39 296 
$90.00–$99.993,341,048 3.4498.80 367 3,341,048 98.80 366 
$100.00–$134.992,435,321 5.04119.69 216 2,314,755 119.19 214 
$135.00–$232.997,692,804 7.55173.71 271 2,625,056 158.14 232 
15,852,939 5.41$135.28 $1,164 10,664,625 $113.30 $1,122 
(1)Average remaining contractual life in years.
Financial Statement Impact From Stock Options Exercised
Options ExercisedYears Ended December 31,
202120202019
Intrinsic value(1)
$219 $379 $483 
Tax benefit realized48 84 117 
(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, 2021:
Number of
Restricted
Stock Units
Weighted
Average
Grant Date
Fair Value
Per Share
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 
Granted992,854 214.61 
Vested(1,123,547)144.34 
Forfeited(308,293)156.74 
Non-vested at December 31, 20212,957,536 $171.73 
Income Statement Impact from RSUs The following table summarizes the impact to the Consolidated Statement of Operations from RSUs:
 Years Ended December 31,
202120202019
Compensation expense$162 $118 $106 
Future income tax benefit recognized23 24 21