Share-Based Compensation

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

The Company recognized $61 million and $94 million of share-based compensation expense during the three months ended June 30, 2021 and 2020, respectively, and $127 million and $202 million of share based compensation expense during the six months ended June 30, 2021 and 2020, respectively. The Company’s annual grant of share-based awards generally occurs in the first quarter. At June 30, 2021, the total remaining unrecognized compensation cost for unvested stock options, restricted stock units and awards and performance share units, net of estimated forfeitures, of $373 million is expected to be recognized over a weighted-average period of 2.2 years. During the six months ended June 30, 2021 and 2020, stock options to purchase 2.4 million and 1.8 million shares, respectively, were exercised.

A summary of stock option activity is as follows:



	Shares (In thousands)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In millions)
Stock options outstanding - December 31, 2020	14,689	$	50.82

Granted	4	102.69
Forfeited	(38)	107.18
Exercised	(2,387)	33.56
Stock options outstanding - June 30, 2021	12,268	$	54.02	4.45	$	655
Stock options exercisable - June 30, 2021	10,806	$	47.15	3.92	$	646

A summary of restricted stock unit, restricted stock award and performance share unit activity is as follows:


	Restricted Stock Units and Awards			Performance Share Units
	Shares (In thousands)	Weighted-Average Grant Date Fair Value		Shares (In thousands)	Weighted-Average Grant Date Fair Value
Units - December 31, 2020	4,797	$	98.29	1,821	$	95.20

Granted	2,243	104.61		255	108.68
Forfeited	(181)	104.24		(74)	98.67
Vested	(2,087)	98.99		(223)	79.70
Units - June 30, 2021	4,772	$	100.65	1,779	$	97.23