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Share-Based Compensation Plans (Tables)

12 Months Ended

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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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 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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