Stock Plans (Tables)

12 Months Ended

Dec. 31, 2019

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
2019	2.46	%	5 years	19.96	%	2.37	%	$	7.83
2018	2.68	%	5 years	20.96	%	2.02	%	$	8.30
2017	2.04	%	6 years	22.75	%	1.74	%	$	8.57

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, 2017	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			$	371	million
Annual grant to eligible employees	4,793,570		47.72
Additional options issued	68,420		50.82
Total options granted	4,861,990		47.76
Options exercised ⁽¹⁾	(13,668,354	)	27.53			$	306	million
Options cancelled	(1,156,518	)	42.22
Balance at December 31, 2019	33,855,948		36.19		5 years	$	640	million
Exercisable at December 31, 2019	25,121,711		32.89		4 years	$	557	million

(1)

Cash received from options exercised was $369 million in 2019, $231 million in 2018 and $257 million in 2017. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $40 million in 2019, $21 million in 2018 and $31 million in 2017.

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 (4)		Weighted-Average Aggregate Fair Value (3)
Balance at January 1, 2017	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) (3)}	(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) (3)}	(2,511,992	)		38.91		$	98	million
Forfeited ⁽²⁾	(882,535	)		42.00
Balance at December 31, 2018	6,559,010			42.19
Annual grant to eligible employees:			Feb. 22, 2019
Performance share units	891,210			57.91
Deferred stock units	666,880			47.72
Additional shares granted ⁽¹⁾	205,073		Various	54.81
Total shares granted	1,763,163			53.69		$	95	million
Vested ⁽³⁾	(2,007,848	)		37.81		$	76	million
Forfeited	(652,380	)		45.88
Balance at December 31, 2019	5,661,945			46.90


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


(2)	Includes performance share units, deferred stock units and historically granted restricted stock.


(3)	The actual tax benefit/(expense) realized and recorded in the provision for income taxes for the tax deductions from the shares vested totaled $2 million in 2019, $3 million in 2018 and $7 million in 2017.

(4)

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.