Share-Based Incentive Compensation

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

SHARE-BASED INCENTIVE COMPENSATION

The following information relates to fully vested stock option awards at September 30, 2022:


Stock Options	Number	Weighted Average Exercise Price		Weighted Average Contractual Life Remaining	Aggregate Intrinsic Value ($ in millions)
Vested at end of period (1)	7,180,448	$	131.13	6.0 years	$	171
Exercisable at end of period	4,394,999	$	123.21	4.7 years	$	132

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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 $41 million and $37 million for the three months ended September 30, 2022 and 2021, respectively, and $141 million and $126 million for the nine months ended September 30, 2022 and 2021, respectively. The related tax benefits recognized in earnings were $7 million for both the three months ended September 30, 2022 and 2021, and $24 million and $22 million for the nine months ended September 30, 2022 and 2021, respectively.

The total unrecognized compensation cost related to all nonvested share-based incentive compensation awards at September 30, 2022 was $212 million, which is expected to be recognized over a weighted-average period of 1.8 years.