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Stock Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Stock Compensation Expense Allocation Within the Consolidated Statements of Income | Total stock compensation expense recognized is as follows:
| For Years Ended December 31,
| 2020 |  | 2019 |  | 2018
COR | $ | 21 |  |  | $ | 21 |  |  | $ | 25 |
R&D | 68 |  |  | 66 |  |  | 69 |
SG&A | 135 |  |  | 130 |  |  | 138 |
Total | $ | 224 |  |  | $ | 217 |  |  | $ | 232 |
Schedule of Weighted Average Assumptions Used to Estimate the Fair Values for Non-qualified Stock Options | We estimate the fair values for non-qualified stock options using the Black-Scholes-Merton option-pricing model with the following weighted average assumptions:
| For Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Weighted average grant date fair value, per share | $ | 25.55 |  |  | $ | 22.08 |  |  | $ | 23.20 |
Weighted average assumptions used: |  |  |  |  |
Expected volatility | 26 | % |  | 26 | % |  | 23 | %
Expected lives (in years) | 6.8 |  | 7.1 |  | 7.2
Risk-free interest rates | 1.53 | % |  | 2.66 | % |  | 2.57 | %
Expected dividend yields | 2.76 | % |  | 2.95 | % |  | 2.25 | %
Schedule of Stock Option and RSU Transactions Under Long-term Incentive and Director Compensation Plans | Stock option and RSU transactions under our long-term incentive and director compensation plans are as follows:
| Stock Options |  | RSUs
| Shares |  | Weighted Average Exercise Price per Share |  | Shares |  | Weighted Average Grant Date Fair Value per Share
Outstanding grants, December 31, 2019 | 32,493,944 |  |  | $ | 66.57 |  |  | 5,897,800 |  |  | $ | 79.62 |
Granted | 4,253,606 |  |  | 130.48 |  |  | 1,005,778 |  |  | 130.59 |
Stock options exercised/RSUs vested | (8,392,354) |  |  | 53.28 |  |  | (2,034,933) |  |  | 53.88 |
Forfeited and expired | (359,919) |  |  | 111.06 |  |  | (157,021) |  |  | 103.90 |
Outstanding grants, December 31, 2020 | 27,995,277 |  |  | 79.69 |  |  | 4,711,624 |  |  | 100.80 |
Schedule of Shares Outstanding Under Stock Option Plans, by Exercise Price Range | Summarized information about stock options outstanding as of December 31, 2020, is as follows:
|  |  | Stock Options Outstanding |  | Options Exercisable
Exercise Price Range |  | Number Outstanding (Shares) |  | Weighted Average Remaining Contractual Life (Years) |  | Weighted Average Exercise Price per Share |  | Number Exercisable (Shares) |  | Weighted Average Exercise Price per Share
$ | 28.13 to 161.98 |  | 27,995,277 |  |  | 5.8 |  | $ | 79.69 |  |  | 17,221,451 |  |  | $ | 59.33 |
Schedule of Stock Options That are Vested and Expected to Vest, Outstanding and Exercisable | Summarized information as of December 31, 2020, about outstanding stock options that are vested and expected to vest, as well as stock options that are currently exercisable, is as follows:
| Outstanding Stock Options (Fully Vested and Expected to Vest) (a) |  | Options Exercisable
Number of outstanding (shares) | 27,596,705 |  |  | 17,221,451 |
Weighted average remaining contractual life (in years) | 5.8 |  | 4.4
Weighted average exercise price per share | $ | 79.13 |  |  | $ | 59.33 |
Intrinsic value (millions of dollars) | $ | 2,346 |  |  | $ | 1,805 |
(a)Includes effects of expected forfeitures. Excluding the effects of expected forfeitures, the aggregate intrinsic value of stock options outstanding was $2.36 billion.
Schedule of ESPP Transactions | ESPP transactions are as follows:
| Shares |  | Exercise Price
Outstanding grants, December 31, 2019 | 173,849 |  |  | $ | 110.14 |
Granted | 714,680 |  |  | 108.74 |
Exercised | (745,483) |  |  | 103.48 |
Outstanding grants, December 31, 2020 | 143,046 |  |  | 137.89 |
Schedule of Changes in Treasury Stock | The following table reflects the changes in our treasury shares:
| Stock Options |  | RSUs |  | Treasury Shares
Balance, December 31, 2017 |  |  |  |  | 757,657,217 |
Repurchases |  |  |  |  | 49,482,220 |
Shares used for: |  |  |  |  |
Stock options/RSUs | (8,432,458) |  |  | (2,769,994) |  |  |
Stock applied to taxes | — |  |  | 553,720 |  |  |
ESPP | (819,878) |  |  | — |  |  |
Director deferred stock units | — |  |  | — |  |  | (5,181) |
Total issued | (9,252,336) |  |  | (2,216,274) |  |  | (11,468,610) |
Balance, December 31, 2018 |  |  |  |  | 795,665,646 |
Repurchases |  |  |  |  | 27,398,701 |
Shares used for: |  |  |  |  |
Stock options/RSUs | (11,529,174) |  |  | (2,370,762) |  |  |
Stock applied to taxes | — |  |  | 490,347 |  |  |
ESPP | (798,806) |  |  | — |  |  |
Director deferred stock units | — |  |  | — |  |  | (71,571) |
Total issued | (12,327,980) |  |  | (1,880,415) |  |  | (14,208,395) |
Balance, December 31, 2019 |  |  |  |  | 808,784,381 |
Repurchases |  |  |  |  | 23,430,215 |
Shares used for: |  |  |  |  |
Stock options/RSUs | (8,392,354) |  |  | (2,034,933) |  |  |
Stock applied to taxes | — |  |  | 421,518 |  |  |
ESPP | (745,483) |  |  | — |  |  |
Director deferred stock units | — |  |  | — |  |  | (1,557) |
Total issued | (9,137,837) |  |  | (1,613,415) |  |  | (10,751,252) |
Balance, December 31, 2020 |  |  |  |  | 821,461,787 |
Schedule of Cash Proceeds Received from Share-based Payment Awards | The effects on cash flows are as follows:
| For Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Proceeds from common stock transactions (a) | $ | 470 |  |  | $ | 539 |  |  | $ | 373 |
Tax benefit realized from stock compensation | $ | 195 |  |  | $ | 224 |  |  | $ | 179 |
Reduction to deferred tax asset | (44) |  |  | (49) |  |  | (43) |
Excess tax benefit for stock compensation | $ | 151 |  |  | $ | 175 |  |  | $ | 136 |
(a)Net of taxes paid for employee shares withheld of $53 million, $52 million and $60 million in 2020, 2019 and 2018, respectively.

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