Stock Plans (Tables)

12 Months Ended

Dec. 31, 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Weighted-Average Black-Scholes Fair Value Assumptions

Our weighted-average Black-Scholes and Lattice Model fair value assumptions were:



	Risk-Free Interest Rate		Expected Life	Expected Volatility		Expected Dividend Yield		Fair Value at Grant Date
2018	2.68	%	5 years	20.96	%	2.02	%	$	8.30
2017	2.04	%	6 years	22.75	%	1.74	%	$	8.57
2016	1.40	%	6 years	23.11	%	1.61	%	$	7.86

Schedule of Stock Options Activity

Stock option activity is reflected below:



	Shares Subject to Option		Weighted- Average Exercise or Grant Price Per Share		Average Remaining Contractual Term	Aggregate Intrinsic Value
Balance at January 1, 2016	57,034,108		$	26.12		$	1,068	million
Annual grant to eligible employees	7,517,290		39.70
Additional options issued	115,800		42.26
Total options granted	7,633,090		39.74
Options exercised ⁽¹⁾	(8,883,101	)	24.09			$	174	million
Options cancelled	(2,182,485	)	35.23
Balance at December 31, 2016	53,601,612		28.02			$	874	million
Annual grant to eligible employees	6,012,140		43.20
Additional options issued	162,880		42.54
Total options granted	6,175,020		43.18
Options exercised ⁽¹⁾	(9,431,009	)	26.17			$	170	million
Options cancelled	(1,910,968	)	38.10
Balance at December 31, 2017	48,434,655		29.92			$	626	million
Annual grant to eligible employees	5,666,530		43.51
Additional options issued	168,306		31.40
Total options granted	5,834,836		43.16
Options exercised ⁽¹⁾	(9,333,271	)	25.16			$	170	million
Options cancelled	(1,117,390	)	42.93
Balance at December 31, 2018	43,818,830		32.36		5 years	$	371	million
Exercisable at December 31, 2018	33,902,437		29.35		4 years	$	369	million

(1)

Cash received from options exercised was $231 million in 2018, $257 million in 2017 and $221 million in 2016. The actual tax benefit realized for the tax deductions from the option exercises totaled $21 million in 2018, $31 million in 2017 and $31 million in 2016.

Deferred Stock Units, Performance Units and Restricted Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Deferred Stock Units, Performance Share Units and Restricted Stock Activity

Our performance share unit, deferred stock unit and restricted stock activity is reflected below:



	Number of Shares		Grant Date	Weighted-Average Fair Value Per Share (3)		Weighted-Average Aggregate Fair Value (3)
Balance at January 1, 2016	9,418,216			$	33.71
Annual grant to eligible employees:			Feb. 22, 2016
Performance share units	1,406,500			34.35
Deferred stock units	1,040,790			39.70
Additional shares granted ⁽¹⁾	864,851		Various	32.90
Total shares granted	3,312,141			35.65		$	118	million
Vested ⁽²⁾	(3,992,902	)		28.15		$	112	million
Forfeited ⁽²⁾	(1,143,828	)		37.58
Balance at December 31, 2016	7,593,627			36.90
Annual grant to eligible employees:			Feb. 16, 2017
Performance share units	1,087,010			43.14
Deferred stock units	845,550			43.20
Additional shares granted ⁽¹⁾	1,537,763		Various	42.22
Total shares granted	3,470,323			42.75		$	148	million
Vested ⁽²⁾	(2,622,807	)		35.78		$	94	million
Forfeited ⁽²⁾	(771,438	)		38.69
Balance at December 31, 2017	7,669,705			39.74
Annual grant to eligible employees:			Feb. 22, 2018
Performance share units	1,048,770			51.23
Deferred stock units	788,310			43.51
Additional shares granted ⁽¹⁾	446,752		Various	41.78
Total shares granted	2,283,832			46.72		$	107	million
Vested ⁽²⁾	(2,511,992	)		38.91		$	98	million
Forfeited ⁽²⁾	(882,535	)		42.00
Balance at December 31, 2018	6,559,010			42.19


(1)	Includes performance share units and deferred stock units.


(2)	Includes performance share units, deferred stock units and restricted stock. The actual tax benefit realized for the tax deductions from the shares vested totaled $3 million in 2018, $7 million in 2017 and $18 million in 2016.

(3)

The grant date fair value of performance share units is determined based on the Monte Carlo simulation model for the market-based total shareholder return component and the closing market price of the Company’s stock on the grant date for performance-based components. The Monte Carlo simulation model incorporates the probability of achieving the total shareholder return market condition. Compensation expense is recognized using the grant date fair values regardless of whether the market condition is achieved, so long as the requisite service has been provided.