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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Summary of the changes in outstanding stock options The following is a summary of the changes in outstanding stock options for 2019:
 
Share units             (in thousands)
 
Weighted
Average
Exercise
Price / Share
 
Weighted Average
Remaining
Contractual
Term (Years)
 
Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2019
2,125

 
$
43.08

 
6.5
 
 
Granted
334

 
$
74.08

 
 
 
 
Exercised
(348
)
 
$
35.56

 
 
 
 
Forfeited and expired
(71
)
 
$
67.97

 
 
 
 
Outstanding at December 31, 2019
2,040

 
$
48.56

 
6.3
 
$
62

Options exercisable at December 31, 2019
1,432

 
$
39.83

 
5.3
 
$
56

Vested and non-vested expected to vest as of December 31, 2019
1,996

 
$
48.00

 
6.2
 
$
61
Weighted-average assumptions The following are weighted-average assumptions used for 2019, 2018, and 2017:
 
2019
 
2018
 
2017
Dividend yield
1.30
%
 
1.12
%
 
1.49
%
Volatility
24.10
%
 
23.41
%
 
25.39
%
Risk-free interest rate
2.55
%
 
2.76
%
 
2.07
%
Expected term (in years)
5.4

 
5.1

 
5.1

Weighted-average fair value per option
$
17.04

 
$
17.80

 
$
10.66
Summary of restricted stock activity
Our restricted stock units activity was as follows for 2019:
 
Share Units (in thousands)
 
Weighted Average
Grant Date Fair
Value / Share
Outstanding at January 1, 2019
537

 
$
59.41

Granted
287

 
74.36

Vested
(257
)
 
55.09

Forfeited
(55
)
 
67.80

Outstanding at December 31, 2019
512

 
68.95
Schedule of Share-based Compensation, Performance-Based Units Award Activity
Our ROIC performance share unit activity was as follows for 2019:
 
Share units (in thousands)
 
Weighted Average
Grant Date Fair
Value / Share
Outstanding at January 1, 2019
274

 
$
52.11

Granted
77

 
74.07

Adjustment for Performance Condition Achieved (a)
74

 
37.86

Vested
(174
)
 
37.86

Forfeited
(26
)
 
63.89

Outstanding at December 31, 2019
225

 
64.51


(a) Represents an increase in the number of original ROIC performance share units awarded based on the final performance criteria achievement at the end of the performance period of such awards.
TSR Performance Share Unit Grants
The following is a summary of our TSR performance share unit grants for 2019:
 
Share units (in thousands)
 
Weighted Average
Grant Date Fair
Value / Share
Outstanding at January 1, 2019
274

 
$
61.04

Granted
77

 
89.62

Adjustment for Performance Condition Achieved (a)
74

 
37.86

Vested
(174
)
 
37.86

Forfeited
(26
)
 
63.89

Outstanding at December 31, 2019
225

 
75.80
Fair value assumptions for performance-based awards The following are weighted-average key assumptions for 2019 grants.
Volatility
20.90
%
Risk-free interest rate
2.52
%