Share-Based Compensation

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

The Company recognized $66 million and $108 million of share-based compensation expense during the three months ended March 31, 2021 and 2020, respectively. The Company’s annual grant of share-based awards generally occurs in the first quarter. At March 31, 2021, 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 $410 million is expected to be recognized over a weighted-average period of 2.4 years. During the three months ended March 31, 2021 and 2020, stock options to purchase 1.6 million and 0.9 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, 2020	14,689	$	50.82

Granted	4	102.69
Forfeited	(18)	104.04
Exercised	(1,598)	34.37
Stock options outstanding - March 31, 2021	13,077	$	52.77	4.57	$	867
Stock options exercisable - March 31, 2021	11,578	$	46.08	4.04	$	845

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


	Restricted Stock Units and Awards			Performance Share Units
	Shares (In thousands)	Weighted-Average Grant Date Fair Value		Shares (In thousands)	Weighted-Average Grant Date Fair Value
Units - December 31, 2020	4,797	$	98.29	1,821	$	95.20

Granted	1,989	103.23		255	108.68
Forfeited	(62)	100.26		(51)	101.22
Vested	(2,008)	99.26		(223)	79.70
Units - March 31, 2021	4,716	$	99.92	1,802	$	97.17