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Share-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
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 | 2021 |  | 2020 |  | 2019
Share-based compensation expense | $ | 139.2 |  |  | $ | 92.4 |  |  | $ | 109.6 |
After tax | $ | 120.4 |  |  | $ | 78.3 |  |  | $ | 94.2 |
Earnings per common share-diluted | $ | 0.16 |  |  | $ | 0.10 |  |  | $ | 0.12 |
Schedule of Weighted Average Assumptions | Weighted-average assumptions
| 2021 | 2020 | 2019
Expected dividend yield | 2.4 | % | 2.3 | % | 2.7 | %
Expected stock price volatility | 21.8 | % | 19.1 | % | 18.9 | %
Risk-free interest rate | 0.7 | % | 1.4 | % | 2.5 | %
Expected life of options (in years) | 5.7 | 5.7 | 5.8
Fair value per option granted | $ | 30.91 |  | $ | 29.40 |  | $ | 25.60 |
Summary of Stock Option Grants | A summary of the status of the Company’s stock option grants as of December 31, 2021, 2020 and 2019, and changes during the years then ended, is presented in the following table:
| 2021 |  | 2020 |  | 2019
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 | 13.4 |  |  |  | $ | 139.44 |  |  |  |  |  |  |  | 14.6 |  |  |  | $ | 124.21 |  |  | 16.6 |  |  |  | $ | 113.06 |
Granted | 2.1 |  |  |  | 215.73 |  |  |  |  |  |  |  | 1.8 |  |  |  | 214.18 |  |  | 2.0 |  |  |  | 175.17 |
Exercised | (2.4) |  |  |  | 115.29 |  |  |  |  |  |  |  | (2.8) |  |  |  | 104.58 |  |  | (3.6) |  |  |  | 97.70 |
Forfeited/expired | (1.1) |  |  |  | 160.50 |  |  |  |  |  |  |  | (0.2) |  |  |  | 184.69 |  |  | (0.4) |  |  |  | 154.65 |
Outstanding at end of year | 12.0 |  |  |  | $ | 156.13 |  |  | 5.8 |  |  | $ | 1,343.7 |  |  | 13.4 |  |  |  | $ | 139.44 |  |  | 14.6 |  |  |  | $ | 124.21 |
Exercisable at end of year | 7.8 |  |  |  | $ | 130.70 |  |  | 4.5 |  |  | $ | 1,078.2 |  |  | 8.8 |  |  |  |  |  | 9.2 |  |  |  |
Summary of Restricted Stock Unit Activity | A summary of the Company’s RSU activity during the years ended December 31, 2021, 2020 and 2019 is presented in the following table:
| 2021 |  | 2020 |  | 2019
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 | 1.3 |  |  |  | $ | 176.81 |  |  | 1.4 |  |  |  | $ | 150.95 |  |  | 1.5 |  |  |  | $ | 132.56 |
Granted | 0.6 |  |  |  | 206.92 |  |  | 0.6 |  |  |  | 201.92 |  |  | 0.6 |  |  |  | 171.48 |
Vested | (0.4) |  |  |  | 153.55 |  |  | (0.6) |  |  |  | 127.99 |  |  | (0.6) |  |  |  | 116.42 |
Forfeited | (0.2) |  |  |  | 168.38 |  |  | (0.1) |  |  |  | 172.45 |  |  | (0.1) |  |  |  | 153.58 |
Nonvested at end of year | 1.3 |  |  |  | $ | 197.10 |  |  | 1.3 |  |  |  | $ | 176.81 |  |  | 1.4 |  |  |  | $ | 150.95 |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + 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 (c)(1) -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 weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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