XML 79 R42.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Share-Based Compensation Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
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 2023, 2022 and 2021 was $21.69, $15.45 and $9.80 per option, respectively, and were determined using the following assumptions:
Years Ended December 31 | 2023 |  | 2022 |  | 2021
Expected dividend yield | 3.1 | % |  | 3.1 | % |  | 3.1 | %
Risk-free interest rate | 3.4 | % |  | 3.0 | % |  | 1.0 | %
Expected volatility | 22.4 | % |  | 22.5 | % |  | 20.9 | %
Expected life (years) | 5.8 |  | 5.9 |  | 5.9
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, 2023 | 13,719 |  |  | $ | 70.55 |  |  |  |  |
Granted | 1,826 |  |  | 117.89 |  |  |  |  |
Exercised | (1,934) |  |  | 64.57 |  |  |  |  |
Forfeited | (84) |  |  | 111.37 |  |  |  |  |
Outstanding December 31, 2023 | 13,527 |  |  | $ | 77.54 |  |  | 6.2 |  | $ | 442 |
Vested and expected to vest December 31, 2023 | 13,119 |  |  | $ | 76.63 |  |  | 6.1 |  | $ | 438 |
Exercisable December 31, 2023 | 9,451 |  |  | $ | 68.97 |  |  | 5.2 |  | $ | 379 |
Additional Information Pertaining to Stock Option Plans | Additional information pertaining to stock option plans is provided in the table below:
Years Ended December 31 | 2023 |  | 2022 |  | 2021
Total intrinsic value of stock options exercised | $ | 95 |  |  | $ | 225 |  |  | $ | 106 |
Fair value of stock options vested | 30 |  |  | 30 |  |  | 27 |
Cash received from the exercise of stock options | 125 |  |  | 384 |  |  | 202 |
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, 2023 |  | 12,700 |  |  | $ | 81.25 |  |  | 2,021 |  |  | $ | 78.60 |
Granted |  | 6,438 |  |  | 117.46 |  |  | 685 |  |  | 108.97 |
Vested |  | (5,921) |  |  | 79.35 |  |  | (683) |  |  | 73.03 |
Forfeited |  | (675) |  |  | 93.06 |  |  | (57) |  |  | 89.66 |
Nonvested December 31, 2023 |  | 12,542 |  |  | $ | 100.10 |  |  | 1,966 |  |  | $ | 90.80 |
Expected to vest December 31, 2023 |  | 11,171 |  |  | $ | 99.17 |  |  | 1,847 |  |  | $ | 89.91 |

X
- Definition Additional information pertaining to stock option plans. + References No definition available. + Details
Name: | mrk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresTableTextBlock
Namespace Prefix: | mrk_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration