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STOCK-BASED COMPENSATION.
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION.
SHARES AUTHORIZED FOR STOCK-BASED COMPENSATION PROGRAMS.

At December 31, 2019, a total of 36,377,502 shares of unissued common stock were authorized for issuance under our stock-based compensation plans. Additionally, a total of 1,964,676 shares are authorized for issuance under a plan whereby substantially all employees may acquire common stock through payroll deductions at prevailing market prices.

STOCK OPTIONS.

The following table summarizes the status of, and changes in, our stock options during 2019.
 
Options
 
Weighted-
average
exercise
price
 
Weighted-average
remaining
contractual
term in
years
Outstanding at December 31, 2018
11,300,393

 
$
69.05

 
 
Exercised
(3,787,735
)
 
$
64.92

 
 
Forfeited
(116,751
)
 
$
76.69

 
 
Expired
(7,839
)
 
$
59.03

 
 
Outstanding at December 31, 2019
7,388,068

 
$
71.06

 
3.8
Exercisable at December 31, 2019
6,716,511

 
$
70.58

 
3.7


Compensation and related costs includes a charge for stock option-based compensation expense of $5.1 million in 2019, $15.3 million in 2018, and $28.1 million in 2017.

The total intrinsic value of options exercised was $170.9 million in 2019, $208.4 million in 2018, and $293.0 million in 2017. At December 31, 2019, the aggregate intrinsic value of in-the-money options outstanding was $375.2 million, including $344.3 million related to options exercisable.

RESTRICTED SHARES AND STOCK UNITS.

The following table summarizes the status of, and changes in, our nonvested restricted shares and restricted stock units during 2019. 
 
Restricted
shares
 
Restricted
stock
units
 
Weighted-
average
fair value
Nonvested at December 31, 2018
136,964

 
6,603,920

 
$
87.07

Time-based grants
7,404

 
2,120,284

 
$
120.22

Performance-based grants
—

 
84,240

 
$
120.79

Vested (value at vest date was $227.1 million)
(126,885
)
 
(1,741,795
)
 
$
84.18

Nonvested dividend equivalents granted to non-employee directors
—

 
1,808

 
$
111.26

Forfeited
(10,079
)
 
(350,196
)
 
$
87.84

Nonvested at December 31, 2019
7,404

 
6,718,261

 
$
98.75



Nonvested at December 31, 2019 includes performance-based restricted stock units of 458,061. These nonvested performance-based restricted units include 213,000 units for which the performance period has lapsed, and the performance threshold has been met.

Compensation and related costs includes expenses for restricted shares and restricted stock units of $201.5 million in 2019, $181.8 million in 2018, and $124.0 million in 2017.

At December 31, 2019, non-employee directors held 57,243 vested stock units that will convert to common shares upon their separation from the Board.

FUTURE STOCK-BASED COMPENSATION EXPENSE.

The following table presents the compensation expense to be recognized over the remaining vesting periods of the stock-based awards outstanding at December 31, 2019. Estimated future compensation expense will change to reflect future grants, changes in the probability of performance thresholds being met, and adjustments for actual forfeitures.

(in millions)
 
First quarter 2020
$
59.6

Second quarter 2020
54.5

Third quarter 2020
53.2

Fourth quarter 2020
46.3

Total 2020
213.6

2021 through 2025
198.0

Total
$
411.6