Stock Plans (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement, Additional Disclosure [Abstract]

Activity for Restricted Stock

During 2021, the activity for RSU awards was as follows:

	Number of Shares	Weighted- Average Grant Date Fair Value Per Share
Balance at January 1, 2021	4,098,240	$	86.21
Granted	2,020,860	82.17
Vested	(1,256,441)	96.01
Forfeited	(221,895)	82.97
Balance at December 31, 2021	4,640,764	$	81.96

Schedule of Weighted Average Grant Date Fair Value and Compensation Expense Related to Share-Based Awards

During the years ended December 31, 2021, 2020 and 2019, the grant date fair value of the RSU awards granted to PMI employees and the recorded compensation expense related to RSU awards were as follows:

(in millions, except per RSU award granted)	Total Grant Date Fair Value of RSU Awards Granted		Weighted-Average Grant Date Fair Value Per RSU Award Granted		Compensation Expense related to RSU Awards
2021	$	166	$	82.17	$	139
2020	$	148	$	85.79	$	129
2019	$	133	$	77.28	$	118

During the years ended December 31, 2021, 2020 and 2019, the grant date fair value of the PSU awards granted to PMI employees and the recorded compensation expense related to PSU awards were as follows:

(in millions, except per PSU award granted)	PSU Grant Date Fair Value Subject to Other Performance Factors				PSU Grant Date Fair Value Subject to TSR Performance Factor				Compensation Expense related to PSU Awards
	Total		Per PSU Award		Total		Per PSU Award		Total
2021	$	28	$	81.86	$	25	$	106.93	$	71
2020	$	28	$	86.04	$	28	$	80.36	$	38
2019	$	30	$	77.23	$	21	$	83.59	$	54

During the years ended December 31, 2021, 2020 and 2019, share and fair value information for PMI PSU awards that vested were as follows:

(dollars in millions)	Shares of PSU Awards that Vested	Grant Date Fair Value of Vested Shares of PSU Awards		Total Fair Value of PSU Awards that Vested
2021	189,839	$	21	$	16
2020	343,806	$	35	$	30
2019	330,616	$	32	$	28

Schedule of Share and Fair Value Information for RSU Awards that Vested

During the years ended December 31, 2021, 2020 and 2019, share and fair value information for PMI RSU awards that vested were as follows:

(dollars in millions)	Shares of RSU Awards that Vested	Grant Date Fair Value of Vested Shares of RSU Awards		Total Fair Value of RSU Awards that Vested
2021	1,256,441	$	121	$	111
2020	1,206,871	$	117	$	102
2019	1,126,057	$	101	$	95

Activity for Performance Share Unit Awards

During 2021, the activity for PSU awards was as follows:

	Number of Shares	Grant Date  Fair Value Subject to Other Performance Factors		Grant Date  Fair Value Subject to TSR Performance Factor
		(Per Share)		(Per Share)
Balance at January 1, 2021	1,472,800	$	86.76	$	90.48
Granted	574,410	81.86		106.93
Vested	(189,839)	100.69		118.98
Forfeited	(320,351)	97.76		72.55
Balance at December 31, 2021	1,537,020	$	82.14	$	96.25

Schedule of Assumptions Used for PSU

The following assumptions were used to determine the grant date fair value of the PSU awards subject to the TSR performance factor for the years ended December 31, 2021, 2020 and 2019:

	For the Years Ended December 31,
	2021		2020		2019
Risk-free interest rate (a)	0.2	%	1.4	%	2.4	%
Expected volatility (b)	31.7	%	23.5	%	21.4	%

(a) Based on the U.S. Treasury yield curve.

(b) Determined using the observed historical volatility.