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Stock-Based Incentive Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2020

Stock-Based Incentive Compensation Plans [Abstract]

Compensation Expense By Award Type

	For the Years Ended December 31,
	2020			2019			2018
Stock options	$	10		$	8		$	5
Performance shares		5			17			15
RSUs		36			37			32
Total	$	51		$	62		$	52
Recognized tax benefit	$	11		$	13		$	11

Total unrecognized compensation expense for all stock-based incentive compensation plans

	For the Years Ended December 31,
	2020					2019					2018
				Weighted-					Weighted-					Weighted-
				Average					Average					Average
	Expense			Period		Expense			Period		Expense			Period
Stock options	$	8		0.7		$	9		0.9		$	9		1.1
Performance shares		14		1.3			15		1.3			14		0.9
RSUs		37		1.2			42		1.4			50		1.2
Total unrecognized stock-based
incentive compensation expense	$	59				$	66				$	73

Option price assumptions used for stock option incentive plans

	For the Years Ended December 31,
	2020			2019			2018
Weighted-average fair value per option granted	$	12.25		$	13.23		$	18.74
Weighted-average assumptions:
Dividend yield		3.0%			2.8%			2.1%
Expected volatility		30.1%			26.9%			27.2%
Risk-free interest rate (1)		0.3-1.4%			2.1-2.5%			2.5-2.9%
Expected life (in years)		5.8			5.8			5.8

⁽¹⁾Risk-free interest rate expressed as a range and not a weighted average.

Summary of activity for stock options with service conditions

						Weighted-
			Weighted-			Average
			Average		Remaining			Aggregate
			Exercise		Contractual			Intrinsic
	Shares		Price			Term		Value
Outstanding as of December 31, 2019	2,894,656		$	55.67
Granted	837,329			60.86
Exercised	(146,370	)		32.70
Forfeited or expired	(126,656	)		62.72
Outstanding as of December 31, 2020	3,458,959		$	57.64		6.46		$	12
Vested or expected to vest as of December 31, 2020 (1)	3,181,759		$	56.93		6.32		$	12
Exercisable as of December 31, 2020	2,141,140		$	54.26		5.12		$	12

⁽¹⁾Includes estimated forfeitures.

Summary of activity for stock options with performance conditions

						Weighted-
			Weighted-			Average
			Average		Remaining			Aggregate
			Exercise		Contractual			Intrinsic
	Shares		Price			Term		Value
Outstanding as of December 31, 2019	209,104		$	61.17
Granted	56,125			23.49
Exercised	(17,687	)		45.60
Forfeited or expired	(38,892	)		59.29
Outstanding as of December 31, 2020	208,650		$	52.70		2.20		$	2
Vested or expected to vest as of December 31, 2020 (1)	190,370		$	54.74		2.03		$	1
Exercisable as of December 31, 2020	172,006		$	57.21		1.82		$	1

⁽¹⁾Includes estimated forfeitures.

Summary of activity for performance shares

				Weighted-
				Average
			Grant-Date
	Shares			Fair Value
Outstanding as of December 31, 2019 (1)	471,071			$	77.29
Granted	233,039				64.62
Vested	(134,282	)			79.61
Forfeited	(27,120	)			70.54
Outstanding as of December 31, 2020 (1)	542,708			$	71.61

⁽¹⁾Represents target award amounts.

Summary of activity for restricted stock units

				Weighted-
				Average
			Grant-Date
	Shares			Fair Value
Outstanding as of December 31, 2019	1,551,129			$	70.09
Granted	623,599				60.83
Vested	(413,309	)			70.96
Forfeited	(103,517	)			66.48
Outstanding as of December 31, 2020	1,657,902			$	66.62

X

- Definition

Disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. Disclosure of the number, aggregate intrinsic value, and weighted-average remaining contractual term for both restricted stock units outstanding and restricted stock units fully vested and expected to vest as of the balance sheet date.

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Disclosure of number and weighted-average exercise prices for share options with performance conditions outstanding at beginning and end of year, exercisable at end of year, and number of share options granted, exercised, forfeited, and expired. For fully vested options and options expected to vest as of the balance sheet date, disclosure of number, weighted-average exercise price, aggregate intrinsic value, and weighted-average remaining contractual term for options outstanding and exercisable.

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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