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Share-Based Compensation Plans | 6 Months Ended
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Jun. 30, 2020
Share-based Payment Arrangement [Abstract] |
Share-Based Compensation Plans | Share-Based Compensation Plans The Company has share-based compensation plans under which the Company grants restricted stock units (RSUs) and performance share units (PSUs) to certain management level employees. In addition, employees and non-employee directors may be granted options to purchase shares of Company common stock at the fair market value at the time of grant. The following table provides the amounts of share-based compensation cost recorded in the Condensed Consolidated Statement of Income:
| Three Months Ended June 30, |  | Six Months Ended June 30,
($ in millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Pretax share-based compensation expense | $ | 121 |  |  | $ | 111 |  |  | $ | 229 |  |  | $ | 204 |
Income tax benefit | (16 | ) |  | (15 | ) |  | (31 | ) |  | (28 | )
Total share-based compensation expense, net of taxes | $ | 105 |  |  | $ | 96 |  |  | $ | 198 |  |  | $ | 176 |
During the first six months of 2020, the Company granted 6 million RSUs with a weighted-average grant date fair value of $77.74 per RSU and during the first six months of 2019 granted 6 million RSUs with a weighted-average grant date fair value of $76.31 per RSU. During the first six months of 2020, the Company granted 773 thousand PSUs with a weighted-average grant date fair value of $75.22 per PSU and during the first six months of 2019 granted 609 thousand PSUs with a weighted-average grant date fair value of $90.50 per PSU. During the first six months of 2020, the Company granted 4 million stock options with a weighted-average exercise price of $77.67 per option and during the first six months of 2019 granted 3 million stock options with a weighted-average exercise price of $80.00 per option. The weighted-average fair value of options granted during the first six months of 2020 and 2019 was $9.93 and $10.63 per option, respectively, and was determined using the following assumptions:
| Six Months Ended June 30,
| 2020 |  | 2019
Expected dividend yield | 3.1 | % |  | 3.2 | %
Risk-free interest rate | 0.4 | % |  | 2.4 | %
Expected volatility | 22.1 | % |  | 18.7 | %
Expected life (years) | 5.8 |  |  | 5.9 |
At June 30, 2020, there was $908 million of total pretax unrecognized compensation expense related to nonvested stock options, RSU and PSU awards which will be recognized over a weighted-average period of 2.2 years. For segment reporting, share-based compensation costs are unallocated expenses.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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