Capital Stock (Tables)

3 Months Ended

Mar. 31, 2020

Capital [Abstract]

Summary of Cash Dividend Activity

A summary of the cash dividend activity for the three months ended March 31, 2020 and 2019 is as follows: 

Declaration Date	Record Date	Payment Date	Cash Dividend per Share	Total
Three Months Ended March 31, 2020
January 28, 2020	March 16, 2020	March 27, 2020	$0.95	$	240
Three Months Ended March 31, 2019
January 29, 2019	March 18, 2019	March 29, 2019	$0.80	$	206

Summary of Share Repurchases

A summary of common stock repurchases for the three months ended March 31, 2020 and 2019 is as follows:

	Three Months Ended March 31
	2020		2019
Shares repurchased	1.9		1.1
Average price per share	$	275.38	$	275.23
Aggregate cost	$	529	$	294
Authorization remaining at the end of the period	$	3,263	$	5,199

Summary of Stock Option Activity

A summary of stock option activity for the three months ended March 31, 2020 is as follows:

	Number of Shares		Weighted- Average Option Price per Share		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2020	3.1		$	190.31
Granted	1.0		271.27
Exercised	(0.3	)	107.46
Forfeited or expired	—		256.05
Outstanding at March 31, 2020	3.8		216.40		7.15	$	139
Exercisable at March 31, 2020	2.2		171.44		5.57	$	139

Summary of Nonvested Restricted Stock Activity Including Restricted Stock Units

A summary of the nonvested restricted stock activity, including restricted stock units, for the three months ended March 31, 2020 is as follows:

	Restricted Stock Shares and Units		Weighted- Average Grant Date Fair Value per Share
Nonvested at January 1, 2020	1.4		$	242.47
Granted	1.2		272.03
Vested	(1.1	)	193.23
Forfeited	(0.1	)	264.40
Nonvested at March 31, 2020	1.4		271.00

Summary of Weighted-Average Assumptions Used to Estimate the Fair Value of Options Granted During the Periods

The following weighted-average assumptions were used to estimate the fair values of options granted during the three months ended March 31, 2020 and 2019:

	Three Months Ended March 31
	2020		2019
Risk-free interest rate	1.30	%	2.69	%
Volatility factor	26.00	%	25.00	%
Quarterly dividend yield	0.350	%	0.260	%
Weighted-average expected life (years)	4.30		4.40

Schedule of Weighted-Average Fair Values Determined for the Periods

The following weighted-average fair values per option or share were determined for the three months ended March 31, 2020 and 2019: 

	Three Months Ended March 31
	2020		2019
Options granted during the period	$	54.03	$	68.92
Restricted stock awards granted during the period	272.03		307.59