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Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Assumptions Used to Determine Weighted-Average Fair Value of Options Granted

The weighted average fair value of options granted in 2019, 2018 and 2017 was $10.63, $8.26 and $7.04 per option, respectively, and were determined using the following assumptions:

Years Ended December 31	2019			2018			2017
Expected dividend yield	3.2	%		3.4	%		3.6	%
Risk-free interest rate	2.4	%		2.9	%		2.0	%
Expected volatility	18.7	%		19.1	%		17.8	%
Expected life (years)	5.9			6.1			6.1

Summarized Information Relative to Stock Option Plan Activity

Summarized information relative to stock option plan activity (options in thousands) is as follows:

	Number of Options			Weighted Average Exercise Price				Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding January 1, 2019	23,807			$	51.89
Granted	2,796			80.05
Exercised	(8,119	)		44.48
Forfeited	(616	)		45.48
Outstanding December 31, 2019	17,868			$	59.88			6.48		$	555
Exercisable December 31, 2019	11,837			$	55.40			5.45		$	421

Additional Information Pertaining to Stock Option Plans

Additional information pertaining to stock option plans is provided in the table below:

Years Ended December 31	2019				2018				2017
Total intrinsic value of stock options exercised	$	295			$	348			$	236
Fair value of stock options vested	27				29				30
Cash received from the exercise of stock options	361				591				499

Summary of Nonvested RSU and PSU Activity

A summary of nonvested RSU and PSU activity (shares in thousands) is as follows:

		RSUs							PSUs
		Number of Shares			Weighted Average Grant Date Fair Value				Number of Shares			Weighted Average Grant Date Fair Value
Nonvested January 1, 2019		16,128			$	58.85			2,039			$	59.42
Granted		4,811			80.08				763			83.90
Vested		(6,594	)		55.70				(748	)		57.87
Forfeited		(818	)		64.75				(82	)		66.68
Nonvested December 31, 2019		13,527			$	67.58			1,972			$	69.18

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Additional information pertaining to stock option plans.

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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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.

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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.

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