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Stock-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2019
Stock-Based Compensation |
Stock-Based Compensation Expense | Stock-Based Compensation Expense
|  | Three months ended |
|  | March 31, |
(Millions) |  | 2019 |  | 2018 |
Cost of sales |  | $ | 22 |  | $ | 23 |
Selling, general and administrative expenses |  |  | 82 |  |  | 109 |
Research, development and related expenses |  |  | 26 |  |  | 27 |
Stock-based compensation expenses |  | $ | 130 |  | $ | 159 |
Income tax benefits |  | $ | (80) |  | $ | (98) |
Stock-based compensation expenses (benefits), net of tax |  | $ | 50 |  | $ | 61 |
Stock Option Activity | Stock Option Program The following table summarizes stock option activity during the three months ended March 31, 2019:
|  |  |  | Weighted |  |  |  |
|  |  |  |  |  |  | Average |  |  |  |
|  |  |  | Weighted |  | Remaining |  | Aggregate |
|  | Number of |  | Average |  | Contractual |  | Intrinsic Value |
(Options in thousands) |  | Options |  | Exercise Price |  | Life (months) |  | (millions) |
Under option — |  |  |  |  |  |  |  |  |  |  |
January 1 |  | 34,569 |  | $ | 138.98 |  |  |  |  |  |
Granted: |  |  |  |  |  |  |  |  |  |  |
Annual |  | 3,423 |  |  | 201.12 |  |  |  |  |  |
Exercised |  | (1,983) |  |  | 82.26 |  |  |  |  |  |
Forfeited |  | (9) |  |  | 205.82 |  |  |  |  |  |
March 31 |  | 36,000 |  | $ | 148.00 |  | 71 |  | $ | 2,233 |
Options exercisable |  |  |  |  |  |  |  |  |  |  |
March 31 |  | 28,703 |  | $ | 133.67 |  | 61 |  | $ | 2,154 |
Stock Option Assumptions | Stock Option Assumptions
|  | Annual |
|  | 2019 |
Exercise price |  | $ | 201.12 |
Risk-free interest rate |  |  | 2.6 | %
Dividend yield |  |  | 2.5 | %
Expected volatility |  |  | 20.4 | %
Expected life (months) |  |  | 79 |
Black-Scholes fair value |  | $ | 34.19 |
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, 2019:
|  |  |  | Weighted |
|  |  |  | Average |
|  | Number of |  | Grant Date |
(Shares in thousands) |  | Shares |  | Fair Value |
Nonvested balance — |  |  |  |  |  |
As of January 1 |  | 1,789 |  | $ | 180.02 |
Granted |  |  |  |  |  |
Annual |  | 551 |  |  | 201.12 |
Other |  | 1 |  |  | 199.63 |
Vested |  | (669) |  |  | 147.90 |
Forfeited |  | (17) |  |  | 169.34 |
As of March 31 |  | 1,655 |  | $ | 200.17 |
Performance Shares Activity | The following table summarizes performance share activity during the three months ended March 31, 2019:
|  |  |  | Weighted |
|  |  |  | Average |
|  | Number of |  | Grant Date |
(Shares in thousands) |  | Shares |  | Fair Value |
Undistributed balance — |  |  |  |  |  |
As of January 1 |  | 562 |  | $ | 188.96 |
Granted |  | 162 |  |  | 207.49 |
Distributed |  | (210) |  |  | 162.16 |
Performance change |  | (125) |  |  | 209.40 |
As of March 31 |  | 389 |  | $ | 204.50 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=109197908&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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