Stock Plans (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Stock Options Activity

Stock option activity is reflected below:

	Shares Subject to Option	Weighted- Average Exercise or Grant Price Per Share	Average Remaining Contractual Term	Aggregate Intrinsic Value
Balance at January 1, 2022	23,503,759	$42.65	5 years	$	556	million
Annual grant to eligible employees	2,180,540	64.65
Additional options issued	1,710	65.97
Total options granted	2,182,250	64.65
Options exercised (1)	(2,329,139)	34.61		$	74	million
Options canceled	(208,761)	53.50
Balance at March 31, 2022	23,148,109	45.43	6 years	$	406	million

(1)Cash received from options exercised was $70 million in the three months ended March 31, 2022. The actual tax benefit realized and recorded in the provision for income taxes for the tax deductions from the option exercises totaled $10 million in the three months ended March 31, 2022.

Performance Share Units and Other Stock-Based Awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Performance Share Units and Stock-Based Awards Activity

Our performance share unit, deferred stock unit and historically granted restricted stock activity is reflected below:

	Number of Shares	Grant Date	Weighted-Average Fair Value Per Share (3)	Weighted-Average Aggregate Fair Value (3)
Balance at January 1, 2022	4,668,046		$57.04
Annual grant to eligible employees:		Feb 24, 2022
Performance share units	806,590		61.87
Deferred stock units	505,090		64.65
Additional shares granted (1)	653,365	Various	60.17
Total shares granted	1,965,045		62.02	$	122	million
Vested (2)	(1,670,302)		55.34	$	92	million
Forfeited	(187,367)		61.42
Balance at March 31, 2022	4,775,422		59.51

(1)Includes performance share units and deferred stock units.

(2)The actual tax benefit/(expense) realized and recorded in the provision for income taxes for the tax deductions from the shares vested totaled $5 million in the three months ended March 31, 2022.

(3)The grant date fair value of performance share units is determined based on the Monte Carlo simulation model for the market-based total shareholder return component and the closing market price of the Company’s stock on the grant date for performance-based components. The Monte Carlo simulation model incorporates the probability of achieving the total shareholder return market condition. Compensation expense is recognized using the grant date fair values regardless of whether the market condition is achieved, so long as the requisite service has been provided.