EQUITY (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Schedule of Total Outstanding Shares

Total outstanding shares of common stock and treasury stock were as follows:

(in millions)	Shares of Common Stock	Shares of Treasury Stock	Outstanding Shares
Balance at December 31, 2017	264.5	(37.7)	226.8
Shares of treasury stock issued	—	1.6	1.6
Repurchase of common stock at an average cost of $45.92	—	(5.4)	(5.4)
Balance at December 31, 2018	264.5	(41.5)	223.0
Shares of treasury stock issued	—	3.1	3.1
Repurchase of common stock at an average cost of $54.18	—	(4.8)	(4.8)
Balance at December 31, 2019	264.5	(43.2)	221.3
Shares of treasury stock issued	—	1.1	1.1
Repurchase of common stock at an average cost of $38.25	—	(3.7)	(3.7)
Balance at December 31, 2020	264.5	(45.8)	218.7

Schedule of Total Stock Based Compensation Expense and the Tax Related Benefit

Total stock based compensation expense and the tax related benefit were as follows:

	Year End December 31,
(in millions)	2020		2019		2018
Stock option expense	$	7	$	7	$	7
RSU expense	39		58		13
Total stock based compensation expense	$	46	$	65	$	20
Related deferred income tax benefit	$	5	$	8	$	2

Schedule of Assumptions Used to Determine Compensation Cost for the Company's Non-qualified Stock Options Issued

The average assumptions used to determine compensation cost for the Company’s NQSOs issued were as follows:

	Year End December 31,
	2020			2019			2018
Weighted average fair value per share	$	10.03		$	12.20		$	12.38
Expected dividend yield	0.84		%	0.71		%	0.64		%
Risk-free interest rate	0.77		%	2.36		%	2.72		%
Expected volatility	24.0		%	22.6		%	19.7		%
Expected life (years)	5.49			6.00			6.07

Schedule of Non-qualified Stock Option Transactions

The NQSO transactions for the year ended December 31, 2020 were as follows:

	Outstanding					Exercisable
(in millions, except per share amounts)	Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value		Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value
December 31, 2019	3.8	$	50.02	$	28	2.7	$	48.85	$	23
Granted	0.7	47.84
Exercised	(0.3)	39.59
Cancelled	(0.2)	56.21
December 31, 2020	4.0	$	50.01	$	17	2.7	$	50.28	$	12

Schedule of Information about Non-qualified Stock Options Outstanding

Information about NQSOs outstanding for the year ended December 31, 2020 were as follows:

			Outstanding				Exercisable
			Number Outstanding at December 31, 2020	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Number Exercisable at December 31, 2020	Weighted Average Exercise Price
Range of Exercise Prices
(in millions, except per share amounts and life)
30.01	-	40.00	0.4	1.5	$	37.54	0.4	$	37.55
40.01	-	50.00	2.0	6.3	46.83		0.9	45.22
50.01	-	60.00	1.2	4.8	54.82		1.0	54.69
60.01	-	70.00	0.4	5.2	62.26		0.4	62.25
			4.0	5.3	$	50.01	2.7	$	50.28

Schedule of the Unvested RSU Transactions

The unvested RSU transactions for the year ended December 31, 2020 were as follows:

	Unvested Restricted Stock Units
	Shares	Weighted Average Grant Date Fair Value
(in millions, except per share amounts)
Unvested at December 31, 2019	4.5	$	47.79
Granted	1.0	49.40
Vested	(0.9)	49.74
Forfeited	(0.4)	46.16
Unvested at December 31, 2020	4.2	$	47.29