Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Fair Value of Each Stock Option Award is Estimated on Grant Date, Using Option Valuation Models

The expected dividend yield is estimated based on the assumption that the dividend yield at date of grant will be maintained over the expected life of the grant.

	2020			2019			2018
Risk-free interest rate		1.44	%		2.50	%		2.62	%
Expected volatility		27	%		27	%		29	%
Expected life, in years		6.15			6.18			6.15
Expected dividend yield		1.19	%		1.16	%		1.37	%

Schedule of Stock Option Activity

Information regarding Time Stock Options and SARs and Performance Stock Options and SARs activity during 2020, 2019 and 2018 is summarized below (share amounts in thousands):

	Time Stock Options and SARs			Performance Stock Options and SARs			Total Stock Options and SARs			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value (dollars in millions)
Options and SARs outstanding, December 31, 2017		11,156			4,586			15,742		$	43.47
Granted		2,342			—			2,342			101.96
Exercised		(3,917	)		(1,774	)		(5,691	)		27.86
Cancelled		(221	)		(145	)		(366	)		68.43
Options and SARs outstanding, December 31, 2018		9,360			2,667			12,027			61.49
Granted		1,349			—			1,349			138.31
Exercised		(1,137	)		(523	)		(1,660	)		44.45
Cancelled		(522	)		—			(522	)		93.26
Options and SARs outstanding, December 31, 2019		9,050			2,144			11,194			71.79
Granted		1,120			—			1,120			144.47
Exercised		(2,159	)		(1,325	)		(3,484	)		44.07
Cancelled		(175	)		—			(175	)		111.69
Options and SARs outstanding, December 31, 2020		7,836			819			8,655		$	91.53		6.0 years	$	631
Options and SARs exercisable, December 31, 2020		4,562			819			5,381		$	71.25		4.8 years	$	502

Schedule of Restricted Stock Units Activity

Stock Option, SAR, RSU and PSU Activity – All Plans (continued)

Information regarding Time RSUs, Performance RSUs and PSUs activity during 2020, 2019 and 2018 is summarized below (share amounts in thousands):

	Time RSUs			Performance RSUs			PSUs			Total RSUs and PSUs			Weighted Average Grant Date Fair Value
RSUs and PSUs outstanding, December 31, 2017		3,465			227			3,562			7,254		$	72.05
Granted		1,464			—			1,261			2,725			101.85
Performance adjustment		—			—			1,250			1,250			69.27
Vested		(1,487	)		(136	)		(2,500	)		(4,123	)		67.33
Cancelled		(319	)		(91	)		(151	)		(561	)		78.82
RSUs and PSUs outstanding, December 31, 2018		3,123			—			3,422			6,545			86.32
Granted		973			—			796			1,769			138.45
Performance adjustment		—			—			227			227			69.94
Vested		(1,216	)		—			(1,251	)		(2,467	)		75.97
Cancelled		(260	)		—			(159	)		(419	)		103.27
RSUs and PSUs outstanding, December 31, 2019		2,620			—			3,035			5,655			105.23
Granted		1,048			—			808			1,856			144.17
Performance adjustment		—			—			206			206			81.89
Vested		(1,030	)		—			(1,364	)		(2,394	)		88.63
Cancelled		(162	)		—			(93	)		(255	)		124.50
RSUs and PSUs outstanding, December 31, 2020		2,476			—			2,592			5,068		$	125.40