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STOCK-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Income Statement Impact from Stock Options | The following table summarizes the impact to the Consolidated Statement of Operations from stock options:
| Years Ended December 31,
2022 | 2021 | 2020
Compensation expense |  | $ | 45 |  |  | $ | 55 |  |  | $ | 50 |
Future income tax benefit recognized |  | 10 |  |  | 11 |  |  | 10 |
Share-based Compensation Fair Value Assumptions | The following table sets forth fair value per share information, including related weighted average assumptions, used to determine compensation cost:
| Years Ended December 31,
2022 | 2021 | 2020
Weighted average fair value per share of options granted during the year(1) |  | $ | 31.22 |  |  | $ | 32.42 |  |  | $ | 21.30 |
Assumptions: |  |  |  |  |  |
Expected annual dividend yield |  | 2.58 | % |  | 2.31 | % |  | 2.59 | %
Expected volatility |  | 23.05 | % |  | 24.69 | % |  | 18.76 | %
Risk-free rate of return |  | 1.97 | % |  | 0.48 | % |  | 1.32 | %
Expected option term (years) |  | 4.74 |  |  | 4.54 |  |  | 4.62 |
(1)Estimated on date of grant using Black-Scholes option-pricing model.
Stock Options Activity | The following table summarizes information about stock option activity for the three years ended December 31, 2022:
| Number of Options | Weighted Average Exercise Price
Outstanding at December 31, 2019 |  | 18,731,562 |  |  | $ | 109.87 |
Granted |  | 3,192,693 |  |  | 176.93 |
Exercised |  | (4,424,754) |  |  | 88.96 |
Lapsed or canceled |  | (930,972) |  |  | 156.62 |
Outstanding at December 31, 2020 |  | 16,568,529 |  |  | 125.75 |
Granted |  | 2,065,574 |  |  | 204.99 |
Exercised |  | (2,016,489) |  |  | 113.01 |
Lapsed or canceled |  | (764,675) |  |  | 175.42 |
Outstanding at December 31, 2021 |  | 15,852,939 |  |  | 135.31 |
Granted |  | 2,150,910 |  |  | 189.53 |
Exercised |  | (3,046,107) |  |  | 103.89 |
Lapsed or canceled |  | (905,454) |  |  | 186.35 |
Outstanding at December 31, 2022 |  | 14,052,288 |  |  | $ | 147.14 |
Vested and expected to vest at December 31, 2022(1) |  | 13,056,367 |  |  | $ | 143.72 |
Exercisable at December 31, 2022 |  | 9,509,606 |  |  | $ | 127.99 |
(1)Represents the sum of vested options of 9.5 million and expected to vest options of 3.5 million. Expected to vest options are derived by applying the pre-vesting forfeiture rate assumption to total outstanding unvested options of 4.5 million.
Schedule of Share Based Compensation by Price Ranges | The following table summarizes information about stock options outstanding and exercisable at December 31, 2022:
Range of Exercise Prices | Options Outstanding |  | Options Exercisable
Number Outstanding | Weighted Average Life(1) | Weighted Average Exercise Price per share | Aggregate Intrinsic Value |  | Number Exercisable | Weighted Average Exercise Price per share | Aggregate Intrinsic Value
$27.00–$64.99 |  | 700 |  |  | 0.20 |  | $ | 57.00 |  |  | $ | — |  |  |  | 700 |  |  | $ | 57.00 |  |  | $ | — |
$65.00–$89.99 |  | 949,592 |  |  | 1.12 |  | 88.69 |  |  | 119 |  |  |  | 949,592 |  |  | 88.69 |  |  | 119 |
$90.00–$99.99 |  | 2,837,199 |  |  | 2.52 |  | 98.79 |  |  | 328 |  |  |  | 2,837,199 |  |  | 98.79 |  |  | 328 |
$100.00–$134.99 |  | 2,092,549 |  |  | 4.05 |  | 119.49 |  |  | 198 |  |  |  | 2,026,049 |  |  | 119.16 |  |  | 197 |
$135.00–$189.99 |  | 6,459,775 |  |  | 6.87 |  | 170.71 |  |  | 282 |  |  |  | 3,270,515 |  |  | 160.19 |  |  | 248 |
$190.00–$232.60 |  | 1,712,473 |  |  | 8.08 |  | 204.52 |  |  | 18 |  |  |  | 425,551 |  |  | 204.99 |  |  | 14 |
|  | 14,052,288 |  |  | 5.33 |  | $ | 147.14 |  |  | $ | 945 |  |  |  | 9,509,606 |  |  | $ | 127.99 |  |  | $ | 906 |
(1)Average remaining contractual life in years.
Financial Statement Impact From Stock Options Exercised | The following table summarizes the financial statement impact from stock options exercised:
Options Exercised | Years Ended December 31,
2022 | 2021 | 2020
Intrinsic value(1) |  | $ | 310 |  |  | $ | 219 |  |  | $ | 379 |
Tax benefit realized |  | 71 |  |  | 48 |  |  | 84 |
(1)Represents the amount by which the stock price exceeded the exercise price of the options on the date of exercise.
Restricted Stock Units Activity | The following table summarizes information about RSU activity for the three years ended December 31, 2022:
| Number of Restricted Stock Units | Weighted Average Grant Date Fair Value Per Share
Non-vested at December 31, 2019 |  | 3,240,065 |  |  | $ | 143.07 |
Granted |  | 1,551,675 |  |  | 158.52 |
Vested |  | (1,001,101) |  |  | 117.84 |
Forfeited |  | (394,116) |  |  | 145.42 |
Non-vested at December 31, 2020 |  | 3,396,523 |  |  | 148.23 |
Granted |  | 992,854 |  |  | 214.61 |
Vested |  | (1,123,547) |  |  | 144.34 |
Forfeited |  | (308,293) |  |  | 156.74 |
Non-vested at December 31, 2021 |  | 2,957,536 |  |  | 171.73 |
Granted |  | 1,056,869 |  |  | 186.48 |
Vested |  | (864,944) |  |  | 157.21 |
Forfeited |  | (441,453) |  |  | 177.38 |
Non-vested at December 31, 2022 |  | 2,708,008 |  |  | $ | 181.10 |
Income Statement Impact from RSUs | The following table summarizes the impact to the Consolidated Statement of Operations from RSUs:
| Years Ended December 31,
2022 | 2021 | 2020
Compensation expense |  | $ | 143 |  |  | $ | 162 |  |  | $ | 118 |
Future income tax benefit recognized |  | 29 |  |  | 23 |  |  | 24 |

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