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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
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 rate1.9 %
Expected volatility27.4 %
Expected dividend yield%
The fair values of stock options granted were estimated on the date of grant using a binomial option-pricing model with the following assumptions:
202120202019
Expected life (in years)6.56.46.4
Average risk-free interest rate0.6 %1.8 %2.7 %
Expected volatility29.3 %28.3 %28.5 %
Expected dividend yield%%%
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 rate1.9 %
Expected volatility27.4 %
Expected dividend yield%
The fair values of stock options granted were estimated on the date of grant using a binomial option-pricing model with the following assumptions:
202120202019
Expected life (in years)6.56.46.4
Average risk-free interest rate0.6 %1.8 %2.7 %
Expected volatility29.3 %28.3 %28.5 %
Expected dividend yield%%%
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, 2020
14,689 $50.82 
Granted168 111.86 
Forfeited(214)108.74 
Exercised(4,414)37.51 
Stock options outstanding - December 31, 202110,229 $56.36 4.26$498 
Stock options exercisable - December 31, 20218,822 $48.38 3.65$492 
Summary of restricted stock and performance activity A summary of restricted stock unit, restricted stock award and performance share unit activity is as follows:
Restricted Stock Units and AwardsPerformance Share Units
Shares
(In thousands)
Weighted-
Average
Grant Date
Fair Value
Shares
(In thousands)
Weighted-
Average
Grant Date
Fair Value
Units and awards - December 31, 20204,797 $98.29 1,821 $95.20 
Granted3,152 104.38 255 108.68 
Forfeited(420)103.99 (158)103.12 
Vested(2,455)99.09 (526)92.72 
Units and awards - December 31, 20215,074 $101.09 1,392 $96.32 
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)202120202019
Total intrinsic value of stock options exercised$339 $194 $331 
Fair value of restricted stock units vested332 454 198 
Income tax benefit from stock options exercised and restricted stock units vested
142 156 126 
Cash received from stock options exercised91 83 104