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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of assumptions used to determine fair value of stock options assumed in acquisition | The fair value of options that the Company assumed in connection with the acquisition of First Data were estimated using the Black-Scholes model with the following assumptions:
Expected life (in years) | 2.5
Average risk-free interest rate | 1.9 | %
Expected volatility | 27.4 | %
Expected dividend yield | 0 | %
The fair values of stock options granted were estimated on the date of grant using a binomial option-pricing model with the following assumptions:
| 2020 |  | 2019 |  | 2018
Expected life (in years) | 6.4 |  | 6.4 |  | 6.3
Average risk-free interest rate | 1.8 | % |  | 2.7 | % |  | 2.2 | %
Expected volatility | 28.3 | % |  | 28.5 | % |  | 28.3 | %
Expected dividend yield | 0 | % |  | 0 | % |  | 0 | %
Schedule of assumptions used to determine fair value of stock options granted | The fair value of options that the Company assumed in connection with the acquisition of First Data were estimated using the Black-Scholes model with the following assumptions:
Expected life (in years) | 2.5
Average risk-free interest rate | 1.9 | %
Expected volatility | 27.4 | %
Expected dividend yield | 0 | %
The fair values of stock options granted were estimated on the date of grant using a binomial option-pricing model with the following assumptions:
| 2020 |  | 2019 |  | 2018
Expected life (in years) | 6.4 |  | 6.4 |  | 6.3
Average risk-free interest rate | 1.8 | % |  | 2.7 | % |  | 2.2 | %
Expected volatility | 28.3 | % |  | 28.5 | % |  | 28.3 | %
Expected dividend yield | 0 | % |  | 0 | % |  | 0 | %
Summary of stock option activity | 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 | 1,522 |  |  | 112.65 |  |  |  |  |
Forfeited | (186) |  |  | 93.66 |  |  |  |  |
Exercised | (2,636) |  |  | 35.07 |  |  |  |  |
Stock options outstanding - December 31, 2020 | 14,689 |  |  | $ | 50.82 |  |  | 4.60 |  | $ | 926 |
Stock options exercisable - December 31, 2020 | 12,222 |  |  | $ | 41.14 |  |  | 3.79 |  | $ | 889 |
Summary of restricted stock and performance activity | 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 |  | 1,671 |  |  | 111.27 |  |  | — |  |  | — |
Forfeited |  | (293) |  |  | 94.33 |  |  | (28) |  |  | 90.41 |
Vested |  | (3,450) |  |  | 95.86 |  |  | (479) |  |  | 92.62 |
Units - December 31, 2020 |  | 4,797 |  |  | $ | 98.29 |  |  | 1,821 |  |  | $ | 95.20 |
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 | (48) |  |  | 102.30 |  |  |  |  |
Awards - December 31, 2020 | — |  |  | $ | — |  |  |  |  |
Schedule of additional information related to stock option and restricted stock unit activity | The table below presents additional information related to stock option and restricted stock unit activity:
(In millions) |  | 2020 |  | 2019 |  | 2018
Total intrinsic value of stock options exercised |  | $ | 194 |  |  | $ | 331 |  |  | $ | 147 |
Fair value of restricted stock units vested |  | 454 |  |  | 198 |  |  | 37 |
Income tax benefit from stock options exercised and restricted stock units vested |  | 156 |  |  | 126 |  |  | 43 |
Cash received from stock options exercised |  | 83 |  |  | 104 |  |  | 29 |

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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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