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Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Share-based Compensation Expense

Share-based compensation expense and the effect on diluted earnings per common share were as follows:

In millions, except per share data			2020						2019						2018
Share-based compensation expense			$	92.4					$	109.6					$	125.1
After tax			$	78.3					$	94.2					$	108.1
Earnings per common share-diluted			$	0.10					$	0.12					$	0.14

Schedule of Weighted Average Assumptions

Weighted-average assumptions

			2020			2019			2018
Expected dividend yield			2.3		%	2.7		%	2.6		%
Expected stock price volatility			19.1		%	18.9		%	18.7		%
Risk-free interest rate			1.4		%	2.5		%	2.7		%
Expected life of options (in years)			5.7			5.8			5.8
Fair value per option granted			$	29.40		$	25.60		$	23.80

Summary of Stock Option Grants

A summary of the status of the Company’s stock option grants as of December 31, 2020, 2019 and 2018, and changes during the years then ended, is presented in the following table:

			2020																														2019															2018
Options			Shares in millions						Weighted- average exercise price									Weighted- average remaining contractual life in years						Aggregate intrinsic value in millions									Shares in millions						Weighted- average exercise price									Shares in millions						Weighted- average exercise price
Outstanding at beginning of year			14.6									$	124.21																				16.6									$	113.06					18.9									$	101.55
Granted			1.8									214.18																					2.0									175.17						2.7									157.95
Exercised			(2.8)									104.58																					(3.6)									97.70						(4.5)									89.31
Forfeited/expired			(0.2)									184.69																					(0.4)									154.65						(0.5)									137.08
Outstanding at end of year			13.4									$	139.44					5.8									$	1,005.5					14.6									$	124.21					16.6									$	113.06
Exercisable at end of year			8.8									$	118.46					4.6									$	843.1					9.2															10.0

Summary of Restricted Stock Unit Activity

A summary of the Company’s RSU activity during the years ended December 31, 2020, 2019 and 2018 is presented in the following table:

			2020															2019															2018
RSUs			Shares in millions						Weighted- average grant date fair value									Shares in millions						Weighted- average grant date fair value									Shares in millions						Weighted- average grant date fair value
Nonvested at beginning of year			1.4									$	150.95					1.5									$	132.56					1.6									$	107.34
Granted			0.6									201.92						0.6									171.48						0.6									158.28
Vested			(0.6)									127.99						(0.6)									116.42						(0.6)									91.20
Forfeited			(0.1)									172.45						(0.1)									153.58						(0.1)									132.14
Nonvested at end of year			1.3									$	176.81					1.4									$	150.95					1.5									$	132.56

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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.

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