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Share-Based Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2021
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 2021, 2020 and 2019 was $9.80, $9.93 and $10.63 per option, respectively, and were determined using the following assumptions:
Years Ended December 31202120202019
Expected dividend yield3.1 %3.1 %3.2 %
Risk-free interest rate1.0 %0.4 %2.4 %
Expected volatility20.9 %22.1 %18.7 %
Expected life (years)5.95.85.9
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, 2021 (1)
19,446 $63.64 
Granted (1)
4,781 75.99 
Exercised (1)
(3,728)54.14 
Forfeited (1)
(626)73.97   
Awards transferred to Organon in the spin-off(1,947)72.15 
Adjustment to Merck awards related to the spin-off of Organon (2)
646 — 
Outstanding December 31, 202118,572 $65.27 6.3$213 
Vested and expected to vest December 31, 202117,829 $64.90 6.2$212 
Exercisable December 31, 202112,136 $60.41 5.0$198 
(1) Activity prior to the Organon spin-off has not been restated.
(2) In connection with the spin-off of Organon, all outstanding Merck stock options (whether vested or unvested) were converted into adjusted Merck awards for current and former Merck employees or Organon awards for Organon employees. Such adjusted awards preserved the same intrinsic value and general terms and conditions (including vesting) as were in place immediately prior to the adjustments.
Additional Information Pertaining to Stock Option Plans
Additional information pertaining to stock option plans is provided in the table below:
Years Ended December 31202120202019
Total intrinsic value of stock options exercised$106 $51 $295 
Fair value of stock options vested27 25 27 
Cash received from the exercise of stock options202 89 361 
Summary of Nonvested RSU and PSU Activity
A summary of nonvested RSU and PSU activity (shares in thousands) is as follows:
 RSUsPSUs
  
Number
of Shares		Weighted
Average
Grant Date
Fair Value		Number
of Shares		Weighted
Average
Grant Date
Fair Value
Nonvested January 1, 2021 (1)
11,915 $74.17 2,100 $75.08 
Granted (1)
7,897 76.16 1,487 69.33 
Vested (1)
(6,066)70.25 (1,284)57.14 
Forfeited (1)
(1,015)76.62 (149)79.33 
Awards transferred to Organon in the spin-off(1,309)76.99 (248)77.39 
Adjustment to Merck awards related to the spin-off of Organon (2)
368 — 60 — 
Nonvested December 31, 202111,790 $74.88 1,966 $77.13 
Expected to vest December 31, 202110,499 $74.93 1,832 $77.40 
(1) Activity prior to the Organon spin-off has not been restated.
(2) In connection with the spin-off of Organon, all outstanding Merck RSUs and PSUs (whether vested or unvested) were converted into adjusted Merck awards for current and former Merck employees or Organon awards for Organon employees. Such adjusted awards preserved the same intrinsic value and general terms and conditions (including vesting) as were in place immediately prior to the adjustments.