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Share-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
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 2020, 2019 and 2018 was $9.93, $10.63 and $8.26 per option, respectively, and were determined using the following assumptions:
Years Ended December 31 | 2020 |  | 2019 |  | 2018
Expected dividend yield | 3.1 | % |  | 3.2 | % |  | 3.4 | %
Risk-free interest rate | 0.4 | % |  | 2.4 | % |  | 2.9 | %
Expected volatility | 22.1 | % |  | 18.7 | % |  | 19.1 | %
Expected life (years) | 5.8 |  | 5.9 |  | 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, 2020 | 17,868 |  |  | $ | 59.88 |  |  |  |  |
Granted | 3,564 |  |  | 77.67 |  |  |  |  |
Exercised | (1,685) |  |  | 52.73 |  |  |  |  |
Forfeited | (301) |  |  | 67.73 |  |  |  |  |
Outstanding December 31, 2020 | 19,446 |  |  | $ | 63.64 |  |  | 6.27 |  | $ | 353 |
Exercisable December 31, 2020 | 13,141 |  |  | $ | 58.30 |  |  | 5.13 |  | $ | 309 |
Additional Information Pertaining to Stock Option Plans | Additional information pertaining to stock option plans is provided in the table below:
Years Ended December 31 | 2020 |  | 2019 |  | 2018
Total intrinsic value of stock options exercised | $ | 51 |  |  | $ | 295 |  |  | $ | 348 |
Fair value of stock options vested | 25 |  |  | 27 |  |  | 29 |
Cash received from the exercise of stock options | 89 |  |  | 361 |  |  | 591 |
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, 2020 |  | 13,527 |  |  | $ | 67.58 |  |  | 1,972 |  |  | $ | 69.18 |
Granted |  | 6,627 |  |  | 77.79 |  |  | 996 |  |  | 77.82 |
Vested |  | (7,511) |  |  | 65.70 |  |  | (824) |  |  | 64.01 |
Forfeited |  | (728) |  |  | 72.06 |  |  | (44) |  |  | 80.06 |
Nonvested December 31, 2020 |  | 11,915 |  |  | $ | 74.17 |  |  | 2,100 |  |  | $ | 75.08 |

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- Definition Additional information pertaining to stock option plans. + References No definition available. + Details
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- Definition 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. + 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 (e) -URI http://asc.fasb.org/extlink&oid=120381028&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 (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&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 (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + 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://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=120381028&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=120381028&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=120381028&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=120381028&loc=d3e5070-113901 + Details
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