XML 59 R41.htm IDEA: XBRL DOCUMENT v3.20.4
Stock Plans (Tables)
 12 Months Ended
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 LifeExpected
Volatility		Expected
Dividend Yield		Fair Value
at Grant Date
20201.34 %5 years19.64 %2.06 %$8.61 
20192.46 %5 years19.96 %2.37 %$7.83 
20182.68 %5 years20.96 %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, 201848,434,655 $29.92 $626  million
Annual grant to eligible employees5,666,530 43.51 
Additional options issued168,306 31.40 
Total options granted5,834,836 43.16 
Options exercised (1)
(9,333,271)25.16 $170  million
Options cancelled(1,117,390)42.93 
Balance at December 31, 201843,818,830 32.36 $371  million
Annual grant to eligible employees4,793,570 47.72 
Additional options issued68,420 50.82 
Total options granted4,861,990 47.76 
Options exercised (1)
(13,668,354)27.53 $306  million
Options cancelled(1,156,518)42.22 
Balance at December 31, 201933,855,948 36.19 $640  million
Annual grant to eligible employees2,280,440 59.04 
Additional options issued136,360 49.48 
Total options granted2,416,800 58.50 
Options exercised (1)
(7,847,964)30.55 $205  million
Options cancelled(672,890)44.94 
Balance at December 31, 202027,751,894 39.51 5 years$527  million
Exercisable at December 31, 202021,444,333 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 DateWeighted-Average
Fair Value
Per Share (4)		Weighted-Average
Aggregate
Fair Value (3)
Balance at January 1, 20187,669,705 $39.74 
Annual grant to eligible employees:Feb. 22, 2018
Performance share units1,048,770 51.23 
Deferred stock units788,310 43.51 
Additional shares granted (1)
446,752 Various41.78 
Total shares granted2,283,832 46.72 $107  million
Vested (2) (3)
(2,511,992)38.91 $98  million
Forfeited (2)
(882,535)42.00 
Balance at December 31, 20186,559,010 42.19 
Annual grant to eligible employees:Feb. 22, 2019
Performance share units891,210 57.91 
Deferred stock units666,880 47.72 
Additional shares granted (1)
205,073 Various54.81 
Total shares granted1,763,163 53.69 $95  million
Vested (2) (3)
(2,007,848)37.81 $76  million
Forfeited (2)
(652,380)45.88 
Balance at December 31, 20195,661,945 46.90 
Annual grant to eligible employees:Feb. 20, 2020
Performance share units825,230 65.83 
Deferred stock units545,550 59.04 
Additional shares granted (1)
390,730 Various56.90 
Total shares granted1,761,510 61.75 $109  million
Vested (3)
(2,051,054)42.87 $88  million
Forfeited(475,411)48.24 
Balance at December 31, 20204,896,990 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.