Share-Based Incentive Compensation

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

SHARE-BASED INCENTIVE COMPENSATION

The following information relates to fully vested stock option awards at September 30, 2021:


Stock Options	Number	Weighted Average Exercise Price		Weighted Average Contractual Life Remaining	Aggregate Intrinsic Value ($ in millions)
Vested at end of period (1)	7,292,324	$	124.13	6.1 years	$	203
Exercisable at end of period	4,340,430	$	118.45	4.6 years	$	146

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(1)Represents awards for which the requisite service has been rendered, including those that are retirement eligible.

The total compensation cost for all share-based incentive compensation awards recognized in earnings was $37 million and $33 million for the three months ended September 30, 2021 and 2020, respectively, and $126 million and $113 million for the nine months ended September 30, 2021 and 2020, respectively. The related tax benefits recognized in the consolidated statement of income were $7 million and $6 million for the three months ended September 30, 2021 and 2020, respectively, and $22 million and $20 million for the nine months ended September 30, 2021 and 2020, respectively.

The total unrecognized compensation cost related to all nonvested share-based incentive compensation awards at September 30, 2021 was $184 million, which is expected to be recognized over a weighted-average period of 1.9 years.