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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Components of share-based compensation expense, net of forfeitures
Years Ended December 31,
202120202019
(in millions)
Stock option$20 $23 $31 
Restricted stock24 24 22 
Restricted stock units108 99 82 
Liability awards92 67 53 
Total$244 $213 $188 
Weighted average assumptions used for stock option grants
202120202019
Dividend yield2.5 %2.5 %3.0 %
Expected volatility36 %27 %27 %
Risk-free interest rate0.4 %1.4 %2.4 %
Expected life of stock option (years)5.05.05.0
Summary of stock option activity
SharesWeighted Average Exercise PriceWeighted Average Remaining Contractual
Term (Years)
Aggregate Intrinsic Value
Outstanding at January 14.8 $133.75 6.5$290 
Granted0.3 197.97 
Exercised(1.8)123.30 
Outstanding at December 313.3 145.79 6.3518 
Exercisable at December 312.2 138.35 5.5365 
Summary of activity for restricted stock, restricted stock units and stock and deferred share units
SharesWeighted Average Grant-date
Fair Value
Non-vested shares at January 11.3 $144.10 
Granted0.6 217.47 
Deferred0.2 251.99 
Vested(0.7)177.39 
Forfeited(0.1)165.98 
Non-vested shares at December 311.3 170.91