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Stock Options And Other Stock Plans (Tables)

12 Months Ended

Dec. 31, 2020

Stock Options And Other Stock Plans [Abstract]

Schedule Of Stock-Based Compensation

Information regarding stock-based compensation appears in the table below:

Millions	2020		2019		2018
Stock-based compensation, before tax:
Stock options	$	15	$	16	$	17
Retention awards		58		77		79
Total stock-based compensation, before tax	$	73	$	93	$	96
Excess tax benefits from equity compensation plans	$	55	$	52	$	28

Schedule Of Stock Options Weighted Average Assumptions

The table below shows the annual weighted-average assumptions used for valuation purposes:

Weighted-Average Assumptions	2020		2019		2018
Risk-free interest rate		1.5%		2.5%		2.6%
Dividend yield		2.1%		2.2%		2.3%
Expected life (years)		4.9		5.2		5.3
Volatility		23.4%		22.7%		21.1%
Weighted-average grant-date fair value of options granted	$	32.20	$	30.37	$	21.70

Summary Of Stock Options Activity

A summary of stock option activity during 2020 is presented below:

	Options (thous.)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value (millions)
Outstanding at January 1, 2020	3,502	$	113.38	6.1	yrs.	$	236
Granted	558		176.63	N/A			N/A
Exercised	(1,402)		100.41	N/A			N/A
Forfeited or expired	(89)		162.52	N/A			N/A
Outstanding at December 31, 2020	2,569	$	132.49	6.4	yrs.	$	195
Vested or expected to vest ‎     at December 31, 2020	2,538	$	132.11	6.4	yrs.	$	193
Options exercisable at December 31, 2020	1,547	$	112.98	5.3	yrs.	$	147

Schedule Of Stock Option Exercises

Additional information regarding stock option exercises appears in the following table:

Millions	2020		2019		2018
Intrinsic value of stock options exercised	$	120	$	193	$	83
Cash received from option exercises		95		130		76
Treasury shares repurchased for employee payroll taxes		(24)		(37)		(20)
Tax benefit realized from option exercises		28		48		21
Aggregate grant-date fair value of stock options vested		15		15		19

Schedule Of Retention Awards

Changes in our retention awards during 2020 were as follows:

	Shares (thous.)	Weighted-Average ‎Grant-Date Fair Value
Nonvested at January 1, 2020	1,898	$	112.12
Granted	315		185.99
Vested	(645)		77.74
Forfeited	(92)		141.83
Nonvested at December 31, 2020	1,476	$	141.06

Schedule Of Performance Retention Awards

Changes in our performance retention awards during 2020 were as follows:

	Shares (thous.)	Weighted-Average ‎Grant-Date Fair Value
Nonvested at January 1, 2020	929	$	123.32
Granted	287		177.23
Vested	(339)		102.97
Unearned	(8)		153.89
Forfeited	(96)		153.74
Nonvested at December 31, 2020	773	$	148.17

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Tabular disclosure of cash received from exercise of stock options and similar instruments granted under share-based payment arrangements and tax benefit from exercise of stock options.

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