XML 37 R27.htm IDEA: XBRL DOCUMENT
v3.21.1

Stock-based Compensation (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
Stock-based compensation [Abstract] |
Stock-Based Compensation | Information regarding stock-based compensation appears in the table below:
Millions, |  |  |  |
for the Three Months Ended March 31, | 2021 | 2020
Stock-based compensation, before tax: |  |  |  |
Stock options | $ | 4 | $ | 4
Retention awards |  | 16 |  | 18
Total stock-based compensation, before tax | $ | 20 | $ | 22
Excess tax benefits from equity compensation plans | $ | 15 | $ | 33
Stock Options Weight Average Assumptions | The table below shows the annual weighted-average assumptions used for valuation purposes:
Weighted-Average Assumptions | 2021 | 2020
Risk-free interest rate |  | 0.4% |  | 1.5%
Dividend yield |  | 1.9% |  | 2.1%
Expected life (years) |  | 4.6 |  | 4.9
Volatility |  | 28.3% |  | 23.4%
Weighted-average grant-date fair value of options granted | $ | 39.97 | $ | 32.20
Stock Options Activity | A summary of stock option activity during the three months ended March 31, 2021, is presented below:
| Options (thous.) | Weighted-Average ‎Exercise Price | Weighted-Average Remaining Contractual Term | Aggregate Intrinsic Value (millions)
Outstanding at January 1, 2021 | 2,569 | $ | 132.49 | 6.4 | yrs. | $ | 195
Granted | 387 |  | 204.45 |  | N/A |  | N/A
Exercised | (252) |  | 122.76 |  | N/A |  | N/A
Forfeited or expired | (34) |  | 136.24 |  | N/A |  | N/A
Outstanding at March 31, 2021 | 2,670 | $ | 143.79 | 6.7 | yrs. | $ | 204
Vested or expected to vest at March 31, 2021 | 2,644 | $ | 143.51 | 6.7 | yrs. | $ | 203
Options exercisable at March 31, 2021 | 1,814 | $ | 123.73 | 5.6 | yrs. | $ | 175
Stock Option Exercises | Additional information regarding stock option exercises appears in the following table:
Millions, |  |  |  |
for the Three Months Ended March 31, | 2021 | 2020
Intrinsic value of stock options exercised | $ | 23 | $ | 48
Cash received from option exercises |  | 30 |  | 33
Treasury shares repurchased for employee taxes |  | (6) |  | (8)
Tax benefit realized from option exercises |  | 4 |  | 11
Aggregate grant-date fair value of stock options vested |  | 14 |  | 14
Retention Awards Activity | Changes in our retention awards during the three months ended March 31, 2021, were as follows:
| Shares ‎(thous.) | Weighted-Average ‎Grant-Date Fair Value
Nonvested at January 1, 2021 | 1,476 | $ | 141.06
Granted | 279 |  | 204.55
Vested | (409) |  | 107.82
Forfeited | (16) |  | 156.98
Nonvested at March 31, 2021 | 1,330 | $ | 164.41
Performance Based Units Activity | Changes in our performance retention awards during the three months ended March 31, 2021, were as follows:
| Shares ‎(thous.) | Weighted-Average ‎Grant-Date Fair Value
Nonvested at January 1, 2021 | 773 | $ | 148.17
Granted | 227 |  | 204.45
Vested | (140) |  | 129.60
Unearned | (150) |  | 128.78
Forfeited | (13) |  | 185.87
Nonvested at March 31, 2021 | 697 | $ | 173.70

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=SL79508275-113901 + Details
Name: | us-gaap_CashProceedsReceivedAndTaxBenefitFromShareBasedPaymentAwardsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + 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 (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + 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)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + 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 (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ShareBasedCompensationAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration