Share-Based Compensation

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

The Company recognized $108 million and $19 million of share-based compensation expense during the three months ended March 31, 2020 and 2019, respectively. The Company’s annual grant of share-based awards generally occurs in the first quarter. At March 31, 2020, the total remaining unrecognized compensation cost for unvested stock options, restricted stock units and awards and performance share units and awards, net of estimated forfeitures, of $537 million is expected to be recognized over a weighted-average period of 2.0 years. During the three months ended March 31, 2020 and 2019, stock options to purchase 0.9 million and 1.3 million shares, respectively, were exercised.

A summary of stock option activity is as follows:



	Shares (In thousands)		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In millions)
Stock options outstanding - December 31, 2019	15,989		$	42.83
Granted	1,503		112.87
Forfeited	(52	)	81.53
Exercised	(899	)	33.09
Stock options outstanding - March 31, 2020	16,541		$	49.61	5.25	$	778
Stock options exercisable - March 31, 2020	13,646		$	40.06	4.44	$	750

A summary of restricted stock unit and performance share unit activity is as follows:



	Restricted Stock Units				Performance Share Units
	Shares (In thousands)		Weighted-Average Grant Date Fair Value		Shares (In thousands)		Weighted-Average Grant Date Fair Value
Units - December 31, 2019	6,869		$	93.80	2,328		$	94.61
Granted	1,174		113.00		—		—
Forfeited	(64	)	86.60		(16	)	91.60
Vested	(2,418	)	95.53		(175	)	75.92
Units - March 31, 2020	5,561		$	97.18	2,137		$	96.17

A summary of restricted stock award activity is as follows:



	Restricted Stock Awards
	Shares (In thousands)	Weighted-Average Grant Date Fair Value
Awards - December 31, 2019	48	$	102.30
Granted	—	—
Forfeited	—	—
Vested	—	—
Awards - March 31, 2020	48	$	102.30