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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Fair Value of Each Stock Option Award is Estimated on Grant Date, Using Option Valuation Models | The expected dividend yield is estimated based on the assumption that the dividend yield at date of grant will be maintained over the expected life of the grant.
|  | 2021 |  |  | 2020 |  |  | 2019 |
Risk-free interest rate |  |  | 0.68 | % |  |  | 1.44 | % |  |  | 2.50 | %
Expected volatility |  |  | 36 | % |  |  | 27 | % |  |  | 27 | %
Expected life, in years |  |  | 6.17 |  |  |  | 6.15 |  |  |  | 6.18 |
Expected dividend yield |  |  | 1.10 | % |  |  | 1.19 | % |  |  | 1.16 | %
Schedule of Stock Option Activity | Information regarding Time Stock Options and SARs and Performance Stock Options and SARs activity during 2021, 2020 and 2019 is summarized below (share amounts in thousands):
|  | Time Stock Options and SARs |  |  | Performance Stock Options and SARs |  |  | Total Stock Options and SARs |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value (dollars in millions) |
Options and SARs outstanding, December 31, 2018 |  |  | 9,360 |  |  |  | 2,667 |  |  |  | 12,027 |  |  | $ | 61.49 |  |  |  |  |  |  |  |  |
Granted |  |  | 1,349 |  |  |  | — |  |  |  | 1,349 |  |  |  | 138.31 |  |  |  |  |  |  |  |  |
Exercised |  |  | (1,137 | ) |  |  | (523 | ) |  |  | (1,660 | ) |  |  | 44.45 |  |  |  |  |  |  |  |  |
Cancelled |  |  | (522 | ) |  |  | — |  |  |  | (522 | ) |  |  | 93.26 |  |  |  |  |  |  |  |  |
Options and SARs outstanding, December 31, 2019 |  |  | 9,050 |  |  |  | 2,144 |  |  |  | 11,194 |  |  |  | 71.79 |  |  |  |  |  |  |  |  |
Granted |  |  | 1,120 |  |  |  | — |  |  |  | 1,120 |  |  |  | 144.47 |  |  |  |  |  |  |  |  |
Exercised |  |  | (2,159 | ) |  |  | (1,325 | ) |  |  | (3,484 | ) |  |  | 44.07 |  |  |  |  |  |  |  |  |
Cancelled |  |  | (175 | ) |  |  | — |  |  |  | (175 | ) |  |  | 111.69 |  |  |  |  |  |  |  |  |
Options and SARs outstanding, December 31, 2020 |  |  | 7,836 |  |  |  | 819 |  |  |  | 8,655 |  |  |  | 91.53 |  |  |  |  |  |  |  |  |
Granted |  |  | 877 |  |  |  | — |  |  |  | 877 |  |  |  | 174.98 |  |  |  |  |  |  |  |  |
Exercised |  |  | (2,443 | ) |  |  | (533 | ) |  |  | (2,976 | ) |  |  | 67.57 |  |  |  |  |  |  |  |  |
Cancelled |  |  | (108 | ) |  |  | — |  |  |  | (108 | ) |  |  | 138.32 |  |  |  |  |  |  |  |  |
Options and SARs outstanding, December 31, 2021 |  |  | 6,162 |  |  |  | 286 |  |  |  | 6,448 |  |  | $ | 113.15 |  |  |  | 6.2 years |  |  | $ | 927 |
Options and SARs exercisable, December 31, 2021 |  |  | 3,486 |  |  |  | 286 |  |  |  | 3,772 |  |  | $ | 89.70 |  |  |  | 5.0 years |  |  | $ | 631 |
Schedule of Restricted Stock Units Activity | Information regarding RSUs and PSUs activity during 2021, 2020 and 2019 is summarized below (share amounts in thousands):
|  | RSUs |  |  | PSUs |  |  | Total RSUs and PSUs |  |  | Weighted Average Grant Date Fair Value |
RSUs and PSUs outstanding, December 31, 2018 |  |  | 3,123 |  |  |  | 3,422 |  |  |  | 6,545 |  |  | $ | 86.32 |
Granted |  |  | 973 |  |  |  | 796 |  |  |  | 1,769 |  |  |  | 138.45 |
Performance adjustment |  |  | — |  |  |  | 227 |  |  |  | 227 |  |  |  | 69.94 |
Vested |  |  | (1,216 | ) |  |  | (1,251 | ) |  |  | (2,467 | ) |  |  | 75.97 |
Cancelled |  |  | (260 | ) |  |  | (159 | ) |  |  | (419 | ) |  |  | 103.27 |
RSUs and PSUs outstanding, December 31, 2019 |  |  | 2,620 |  |  |  | 3,035 |  |  |  | 5,655 |  |  |  | 105.23 |
Granted |  |  | 1,048 |  |  |  | 808 |  |  |  | 1,856 |  |  |  | 144.17 |
Performance adjustment |  |  | — |  |  |  | 206 |  |  |  | 206 |  |  |  | 81.89 |
Veste d |  |  | (1,030 | ) |  |  | (1,364 | ) |  |  | (2,394 | ) |  |  | 88.63 |
Cancelled |  |  | (162 | ) |  |  | (93 | ) |  |  | (255 | ) |  |  | 124.50 |
RSUs and PSUs outstanding, December 31, 2020 |  |  | 2,476 |  |  |  | 2,592 |  |  |  | 5,068 |  |  |  | 125.40 |
Granted |  |  | 899 |  |  |  | 689 |  |  |  | 1,588 |  |  |  | 174.34 |
Performance adjustment |  |  | — |  |  |  | 684 |  |  |  | 684 |  |  |  | 102.02 |
Vested |  |  | (992 | ) |  |  | (1,772 | ) |  |  | (2,764 | ) |  |  | 106.62 |
Cancelled |  |  | (192 | ) |  |  | (110 | ) |  |  | (302 | ) |  |  | 149.07 |
RSUs and PSUs outstanding, December 31, 2021 |  |  | 2,191 |  |  |  | 2,083 |  |  |  | 4,274 |  |  | $ | 150.32 |

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- 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
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- 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
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