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Stock Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
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
2020 | 1.34 | % |  | 5 years |  | 19.64 | % |  | 2.06 | % |  | $ | 8.61 |
2019 | 2.46 % |  | 5 years |  | 19.96 % |  | 2.37 % |  | $ | 7.83 |
2018 | 2.68 % |  | 5 years |  | 20.96 % |  | 2.02 % |  | $ | 8.30 |
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, 2018 | 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 |  |  |  |  | $ | 640 | million
Annual grant to eligible employees | 2,280,440 |  |  | 59.04 |  |  |  |  |
Additional options issued | 136,360 |  |  | 49.48 |  |  |  |  |
Total options granted | 2,416,800 |  |  | 58.50 |  |  |  |  |
Options exercised (1) | (7,847,964) |  |  | 30.55 |  |  |  |  | $ | 205 | million
Options cancelled | (672,890) |  |  | 44.94 |  |  |  |  |
Balance at December 31, 2020 | 27,751,894 |  |  | 39.51 |  |  | 5 years |  | $ | 527 | million
Exercisable at December 31, 2020 | 21,444,333 |  |  | 36.18 |  |  | 4 years |  | $ | 478 | million
(1)Cash received from options exercised was $236 million in 2020, $369 million in 2019 and $231 million in 2018. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $27 million in 2020, $40 million in 2019 and $21 million in 2018.
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, 2018 | 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 (2) (3) | (2,007,848) |  |  |  |  | 37.81 |  |  | $ | 76 | million
Forfeited (2) | (652,380) |  |  |  |  | 45.88 |  |  |
Balance at December 31, 2019 | 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) | 390,730 |  |  | Various |  | 56.90 |  |  |
Total shares granted | 1,761,510 |  |  |  |  | 61.75 |  |  | $ | 109 | million
Vested (3) | (2,051,054) |  |  |  |  | 42.87 |  |  | $ | 88 | million
Forfeited | (475,411) |  |  |  |  | 48.24 |  |  |
Balance at December 31, 2020 | 4,896,990 |  |  |  |  | 53.80 |  |  |
(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 $5 million in 2020, $2 million in 2019 and $3 million in 2018. (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.

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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, 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 (e) -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 (c)(2) -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 (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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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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