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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following weighted-average assumptions were used to value the grants in 2020, 2019 and 2018: 

Year Ended December 31,			2020						2019						2018
Dividend yield			2.2		%				2.0		%				2.1		%
Volatility			15.8		%				14.3		%				14.4		%
Risk-free interest rate			0.60		%				2.38		%				2.67		%
Expected term years			6						6						5

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes option activity under the plans as of December 31, 2020 and changes during the period then ended (averages are calculated on a weighted basis; life in years; intrinsic value expressed in millions): 

Activity			Number  of Options (000’s)						Average Exercise Price						Average Remaining Life						Aggregate Intrinsic Value
Outstanding at January 1, 2020			9,297						$	127.04
Granted			1,155						173.16
Exercised			(2,205)						115.34
Cancelled or expired			(180)						162.97
Outstanding at December 31, 2020			8,067						$	136.05					6.0						$	1,028
Exercisable at December 31, 2020			5,707						$	123.93					5.0						$	797

Performance Based and Restricted Stock Activity

The following table summarizes non-vested performance-based and restricted stock award activity as of December 31, 2020 and changes during the period then ended (shares based on target amounts, averages are calculated on a weighted basis): 

			Performance-Based												Restricted Stock
			Number of Shares (000’s)						Average Grant Date Fair Value						Number of Shares (000’s)						Average Grant Date Fair Value
Non-vested at January 1, 2020			246						$	184.29					884						$	129.43
Granted			224						174.70						186						174.95
Vested			—						—						(355)						117.62
Cancelled and Forfeited			(33)						178.27						(27)						160.90
Non-vested at December 31, 2020			437						$	179.76					688						$	148.56

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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.

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-Name Accounting Standards Codification
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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.

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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.

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