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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract] |
Schedule of weighted-average fair value of options, assumptions used | The weighted-average fair value of options granted was estimated at $15.92, $13.54 and $13.56, in 2020, 2019 and 2018, respectively, per option on the date of grant based on the following assumptions:
| Year Ended December 31
| 2020 |  | 2019 |  | 2018
Dividend yield | 3.3 | % |  | 3.3 | % |  | 3.9 | %
Volatility | 21.9 | % |  | 17.0 | % |  | 20.8 | %
Risk-free interest rate | 0.3 | % |  | 2.3 | % |  | 2.8 | %
Expected life - years | 4.5 |  | 4.6 |  | 4.6
Schedule of total remaining unrecognized compensation costs and amortization period | Total remaining unrecognized compensation costs and amortization period are as follows:
| December 31, 2020 |  | Weighted-Average Service Years
Stock options | $ | 15 |  |  | 1.3
Restricted shares and time-vested restricted share units | 12 |  |  | 1.5
Performance-based restricted share units | 82 |  |  | 1.8
Summary of stock-based compensation | A summary of stock-based compensation is presented below:
Stock Options | Shares (in thousands) |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at January 1, 2020 | 5,892 |  |  | $ | 115.26 |  |  |  |  |
Granted | 1,568 |  |  | 139.18 |  |  |  |  |
Exercised | (1,909) |  |  | 113.58 |  |  |  |  |
Forfeited or expired | (160) |  |  | 124.97 |  |  |  |  |
Outstanding at December 31, 2020 | 5,391 |  |  | 123.14 |  |  | 7.75 |  | $ | 70 |
Exercisable at December 31, 2020 | 2,813 |  |  | 116.94 |  |  | 5.34 |  | $ | 50 |
Summary of nonvested restricted share units |
| Time-Vested Restricted Share Units |  | Performance-Based Restricted Share Units
Other Stock-Based Awards | Shares (in thousands) |  | Weighted- Average Grant-Date Fair Value |  | Shares (in thousands) |  | Weighted- Average Grant-Date Fair Value
Nonvested at January 1, 2020 | 156 |  |  | $ | 123.15 |  |  | 1,584 |  |  | $ | 118.71 |
Granted | 123 |  |  | 134.31 |  |  | 623 |  |  | 134.81 |
Vested | (83) |  |  | 122.07 |  |  | (370) |  |  | 124.41 |
Forfeited | (14) |  |  | 122.14 |  |  | (300) |  |  | 128.52 |
Nonvested at December 31, 2020 | 182 |  |  | 130.91 |  |  | 1,537 |  |  | 122.56 |

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- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=116856206&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=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement. + 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 (i) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the change in restricted stock units (RSUs). + References No definition available. + Details
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