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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Summary Of Stock Option Activity Under All Stock Plans

Option activity during 2021 under all the stock plans was as follows (in millions, except per share amounts):

			Stock Options Outstanding
			Number Outstanding						Weighted-Average Exercise Price Per Share
Balance as of December 31, 2020			13.4						$	101.69
Options granted			1.1						$	294.53
Options exercised			(2.7)						$	74.39
Options forfeited/expired			(0.1)						$	198.34
Balance as of December 31, 2021			11.7						$	125.07

Summary Of Significant Ranges Of Outstanding And Exercisable Options

The following table summarizes significant ranges of outstanding and exercisable options as of December 31, 2021 (number of shares and aggregate intrinsic value in millions):

						Options Outstanding																								Options Exercisable
Range of Exercise Prices						Number of Shares						Weighted-Average Remaining Contractual Life						Weighted-Average Exercise Price Per Share						Aggregate Intrinsic Value (1)						Number of Shares						Weighted-Average Remaining Contractual Life						Weighted-Average Exercise Price Per Share						Aggregate Intrinsic Value (1)
$29.91-$49.34						1.4						1.9						$	45.18											1.4												$	45.18
$51.02-$57.11						1.4						2.5						$	54.39											1.4												$	54.39
$57.48-$59.46						1.4						2.9						$	58.78											1.4												$	58.78
$59.58-$77.00						1.3						2.8						$	69.07											1.3												$	69.07
$77.04-$139.52						1.6						5.6						$	108.72											1.6												$	108.24
$143.49-$174.26						1.4						7.1						$	168.88											1.1												$	169.46
$175.53-$182.83						1.3						7.6						$	179.91											0.7												$	180.38
$182.90-$245.60						1.3						8.7						$	234.88											0.4												$	230.62
$249.83-$341.16						0.1						9.1						$	270.94											—												$	251.85
$347.42-$347.42						0.5						9.6						$	347.42											0.1												$	347.42
Total						11.7						5.1						$	125.07					$	2,737					9.4						4.3						$	99.52					$	2,453

(1)The aggregate intrinsic value represents the total pre-tax intrinsic value, based on the Company’s closing stock price of $359.30 as of December 31, 2021, which would have been received by the option holders had all in-the-money option holders exercised their options as of that date.

Summary of RSU Activity

RSU activity for the year ended December 31, 2021, was as follows (in millions, except per share amounts):

			Shares						Weighted-Average Grant Date Fair Value
Unvested balance as of December 31, 2020			5.3						$	163.30
Granted			1.9						$	256.52
Vested			(2.1)						$	145.60
Forfeited			(0.3)						$	193.61
Unvested balance as of December 31, 2021			4.8						$	207.37

Summary Of Share-Based Compensation Expense

The following table summarizes share-based compensation expense (in millions):

			Years Ended December 31,
			2021						2020						2019
Cost of sales—products			$	68.9					$	58.9					$	46.6
Cost of sales—services			22.2						24.0						20.4
Total cost of sales			91.1						82.9						67.0
Selling, general and administrative			231.6						202.2						169.5
Research and development			134.1						113.6						101.4
Share-based compensation expense before income taxes			456.8						398.7						337.9
Income tax effect			93.7						81.4						70.2
Share-based compensation expense after income taxes			$	363.1					$	317.3					$	267.7

Schedule Of Estimated Fair Values Of The Option Using Black-Scholes Option Pricing Model, Weighted Average Assumptions and Fair Value of RSUs

The weighted-average estimated fair values of stock options, the rights to acquire stock under the ESPP, and RSUs, as well as the weighted-average assumptions used in calculating the fair values of stock options and rights to acquire stock under the ESPP that were granted during the years ended December 31, 2021, 2020, and 2019, were as follows:

			Years Ended December 31,
STOCK OPTION PLANS			2021						2020						2019
Risk-free interest rate			0.8%						0.6%						2.0%
Expected term (years)			4.1						4.1						4.1
Volatility			32%						32%						30%
Fair value at grant date			$78.23						$54.34						$47.51
EMPLOYEE STOCK PURCHASE PLAN
Risk-free interest rate			0.1%						0.9%						2.1%
Expected term (years)			1.2						1.2						1.2
Volatility			29%						30%						29%
Fair value at grant date			$89.98						$57.29						$49.66
RESTRICTED STOCK UNITS
Fair value at grant date			$256.52						$181.89						$180.45

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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