Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Components of share-based compensation expense, net of forfeitures [Table Text Block]

The components of the Company’s share-based compensation expense, net of forfeitures, were as follows:

	December 31,
	2020		2019		2018
	(in millions)
Stock option	$	23	$	31	$	35
Restricted stock	24		22		24
Restricted stock units	99		82		85
Liability awards	67		53		2
Total	$	213	$	188	$	146

Weighted average assumptions used for stock option grants [Table Text Block]

The following weighted average assumptions were used for stock option grants:

	2020		2019		2018
Dividend yield	2.5	%	3.0	%	2.3	%
Expected volatility	27	%	27	%	24	%
Risk-free interest rate	1.4	%	2.4	%	2.4	%
Expected life of stock option (years)	5.0		5.0		5.0

Summary of stock option activity [Table Text Block]

A summary of the Company’s stock option activity for 2020 is presented below (shares and intrinsic value in millions):

	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at January 1	6.3	$	122.12	6.6	$	292
Granted	0.5	165.44
Exercised	(2.0)	105.11
Outstanding at December 31	4.8	133.75		6.5	290
Exercisable at December 31	3.1	125.70		5.5	213

Summary of restricted stock award activity [Table Text Block]

A summary of activity for the Company’s restricted stock awards, restricted stock units granted to employees (including advisors), compensation and commission deferrals into stock and deferred share units for 2020 is presented below (shares in millions):

	Shares	Weighted Average Grant-date Fair Value
Non-vested shares at January 1	1.2	$	133.40
Granted	0.7	157.92
Deferred	0.2	145.06
Vested	(0.8)	141.02
Non-vested shares at December 31	1.3	144.10