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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2018
Stock-Based Compensation |
Stock-Based Compensation Expense | Stock-Based Compensation Expense
| Three months ended |
| March 31, |
(Millions) | 2018 |  | 2017 |
Cost of sales | $ | 23 |  | $ | 23 |
Selling, general and administrative expenses |  | 109 |  |  | 98 |
Research, development and related expenses |  | 27 |  |  | 26 |
Stock-based compensation expenses | $ | 159 |  | $ | 147 |
Income tax benefits | $ | (98) |  | $ | (148) |
Stock-based compensation expenses (benefits), net of tax | $ | 61 |  | $ | (1) |
Stock Option Activity | Stock Option Program The following table summarizes stock option activity during the three months ended March 31, 2018:
|  |  |  | Weighted |  |  |  |
|  |  |  |  |  |  | Average |  |  |  |
|  |  |  | Weighted |  | Remaining |  | Aggregate |
|  | Number of |  | Average |  | Contractual |  | Intrinsic Value |
(Shares in thousands) |  | Options |  | Exercise Price |  | Life (months) |  | (millions) |
Under option — |  |  |  |  |  |  |  |  |  |  |
January 1 |  | 34,965 |  | $ | 125.73 |  |  |  |  |  |
Granted: |  |  |  |  |  |  |  |  |  |  |
Annual |  | 3,174 |  |  | 233.62 |  |  |  |  |  |
Exercised |  | (1,844) |  |  | 90.20 |  |  |  |  |  |
Forfeited |  | (22) |  |  | 180.69 |  |  |  |  |  |
March 31 |  | 36,273 |  | $ | 136.94 |  | 73 |  | $ | 3,040 |
Options exercisable |  |  |  |  |  |  |  |  |  |  |
March 31 |  | 27,757 |  | $ | 120.20 |  | 63 |  | $ | 2,757 |
Stock Option Assumptions | Stock Option Assumptions
|  | Annual |
|  | 2018 |
Exercise price |  | $ | 233.63 |
Risk-free interest rate |  |  | 2.7 | %
Dividend yield |  |  | 2.4 | %
Expected volatility |  |  | 21.0 | %
Expected life (months) |  |  | 78 |
Black-Scholes fair value |  | $ | 41.59 |
Restricted Stock and Restricted Stock Units Activity | Restricted Stock and Restricted Stock Units The following table summarizes restricted stock and restricted stock unit activity during the three months ended March 31, 2018:
|  |  |  | Weighted |
|  |  |  | Average |
|  | Number of |  | Grant Date |
(Shares in thousands) |  | Awards |  | Fair Value |
Nonvested balance — |  |  |  |  |  |
As of January 1 |  | 1,994 |  | $ | 162.60 |
Granted |  |  |  |  |  |
Annual |  | 467 |  |  | 233.61 |
Vested |  | (611) |  |  | 165.67 |
Forfeited |  | (6) |  |  | 171.27 |
As of March 31 |  | 1,844 |  | $ | 179.55 |
Performance Shares Activity | The following table summarizes performance share activity during the three months ended March 31, 2018:
|  |  |  | Weighted |
|  |  |  | Average |
|  | Number of |  | Grant Date |
(Shares in thousands) |  | Awards |  | Fair Value |
Undistributed balance — |  |  |  |  |  |
As of January 1 |  | 686 |  | $ | 171.90 |
Granted |  | 156 |  |  | 231.34 |
Distributed |  | (206) |  |  | 159.82 |
Performance change |  | 28 |  |  | 205.82 |
Forfeited |  | (2) |  |  | 181.11 |
As of March 31 |  | 662 |  | $ | 191.02 |

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- Definition Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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