XML 87 R19.htm IDEA: XBRL DOCUMENT
v3.20.1

Stock Plans | 3 Months Ended
--- | ---
Mar. 31, 2020
Share-based Payment Arrangement [Abstract] |
Stock Plans | Note 11. Stock Plans Stock Options: 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, 2020 | 33,855,948 |  |  | $36.19 |  | 5 years |  | $ | 640 | million
Annual grant to eligible employees | 2,280,440 |  |  | 59.04 |  |  |  |
Additional options issued | 34,350 |  |  | 54.59 |  |  |  |
Total options granted | 2,314,790 |  |  | 58.97 |  |  |  |
Options exercised (1) | (4,210,414 | ) |  | 28.62 |  |  |  | $ | 120 | million
Options canceled | (262,968 | ) |  | 41.20 |  |  |  |
Balance at March 31, 2020 | 31,697,356 |  |  | 38.31 |  | 6 years |  | $ | 378 | million
(1) | Cash received from options exercised was $119 million in the three months ended March 31, 2020. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $17 million in the three months ended March 31, 2020.
Performance Share Units and Other Stock-Based Awards: Our performance share unit, deferred stock unit and historically granted 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, 2020 | 5,661,945 |  |  |  |  | $46.90 |  |
Annual grant to eligible employees: |  |  | Feb. 20, 2020 |  |  |  |
Performance share units | 825,230 |  |  |  |  | 65.83 |  |
Deferred stock units | 545,550 |  |  |  |  | 59.04 |  |
Additional shares granted (1) | 226,700 |  |  | Various |  | 57.53 |  |
Total shares granted | 1,597,480 |  |  |  |  | 62.77 |  | $ | 100 | million
Vested (2) | (1,585,787 | ) |  |  |  | 43.10 |  | $ | 68 | million
Forfeited | (287,626 | ) |  |  |  | 44.78 |  |
Balance at March 31, 2020 | 5,386,012 |  |  |  |  | 52.84 |  |
(1) | Includes performance share units and deferred stock units.
(2) | The actual tax benefit/(expense) realized and recorded in the provision for income taxes for the tax deductions from the shares vested totaled less than $3 million in the three months ended March 31, 2020.
(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.
Share Repurchase Program: Between 2013 and 2017, our Board of Directors authorized the repurchase of a total of $13.7 billion of our Common Stock through December 31, 2018. On January 31, 2018, our Finance Committee, with authorization delegated from our Board of Directors, approved an increase of $6.0 billion in the share repurchase program, raising the authorization to $19.7 billion of Common Stock repurchases, and extended the program through December 31, 2020. Repurchases under the program are determined by management and are wholly discretionary. Prior to January 1, 2020, we had repurchased $16.5 billion of Common Stock pursuant to this authorization. During the three months ended March 31, 2020, we repurchased approximately 12.9 million shares of Common Stock at an average cost of $54.25 per share, or an aggregate cost of approximately $0.7 billion, all of which was paid during the period. All share repurchases were funded through available cash and commercial paper issuances. As of March 31, 2020, we have $2.5 billion in remaining share repurchase capacity.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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